ORDER :

1. In this petition, which is filed under Article 226 of the Constitution of India, the petitioner has prayed that the respondent Financial Institution be directed to accept the One-Time Settlement proposal (OTS) produced by the petitioner at Annexure-A of the compilation.

2. Heard learned advocate Mr. N.V. Gandhi for the petitioner and learned advocate Mr. Dhruvik Patel for the respondents.

3. Learned advocate for the petitioner referred the averments made in the memo of the petition and, thereafter, contended that as per the last demand notice issued under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (“SARFAESI Act” for short), the respondent Financial Institution had calculated the outstanding loan amount of the petitioner at Rs.4,46,39,961.11 payable as on 08.08.2019. Learned advocate has referred Paragraph-11 of the memo of the petition. It is further submitted that the petitioner has shown willingness to pay the amount of approximately Rs.4,39,00,000/- as per the OTS proposal given by it on 09.03.2020. Copy of the said application is placed on record at Page-29 of the compilation. At this stage,