ANOOP V. MOHTA, J.

Rule. Rule made returnable forthwith.

Heard finally, by consent of the parties.

2. The Petitioners, by this Writ Petition filed on 8 May 2016, have challenged the stated action of Respondent No.3, not considering the Application for One Time Settlement Scheme (OTS Scheme), under the Reserve Bank of India Guidelines (RBI Guidelines). The prayer is also made for appropriate orders and to issue direction to consider the Application for OTS scheme.

3. The background history of the issues so raised in the matter, is as under:

The Petitioners are running the Hospital. Respondent No.4 is a bank, registered under the Banking Regulation Act and runs under the RBI guidelines. The Petitioners obtain a home loan of Rs.34,00,000/- in the year 2002 and another loan of Rs.6,80,000/- in the year 2003 from Respondent No.4. The Petitioners by 78 EMI of Rs.49,273/- per EMI, paid total amount of Rs.40,00,000/-. But due to some difficulties the Petitioners unable to repay some EMIs within time. On 15 December 2007, Respondent No.4Bank issued two notices under Section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002