ORDER :

1. The petitioner is before this Court calling in question action of the respondent/Canara Bank (‘the Bank’ for short) in notifying conduct of e-auction on 29-04-2021, further communication dated 23-03-2021 whereby the Bank withdraws One Time Settlement (‘OTS’) that was offered and has also sought for a direction by issuance of a writ in the nature of mandamus to accept OTS.

2. The facts adumbrated in the petition are as follows:

The petitioner is a private limited Company in the name and style of M/s Rima Transformers and Conductors Private Limited, incorporated under the provisions of the Companies Act, 1956. The Managing Director of the Company will be hereinafter referred to as the petitioner. The petitioner approaches the respondent/Bank for availing credit facility. The total loan that was availed by the petitioner was Rs. 18 crores. The installments towards loan not having been made at regular intervals as was necessary, the account of the petitioner slipped into becoming a Non-Performing Asset (‘NPA’). Negotiations were held between the petitioner and the Bank.

3. T