HEMANT GUPTA, J.

1. In the present writ petition, the petitioners have claimed a writ of mandamus directing the respondents to accept 75% of the balance amount of Rs. 17,80,445.52 in instalments in terms of one Time Settlement Scheme issued by the Reserve Bank of India.

2. Petitioner No. 1 is a firm and petitioner No. 2 is a partner thereof. It is pleaded in the writ petition that the firm has availed loan against the security of residential house situated in Mohalla Ramgali Rewari and land measuring 21 Kanals 5 Marlas and 3 Kanals 5 Marlas at Jhajjar Road, Rewari.

3. In terms of one time settlement scheme issued by the Reserve Bank of India in the year 2001, the respondent Bank issued a letter to the firm on 13-3-2001 informing the conditions of one time settlement scheme. The said communication was made in view of the default in making the payments in repayment of the amount loaned by the bank to the petitioners. The firm on 30-3-2001 communicated its acceptance to the bank by payment of Rs. 17,70,000/- as a full and final settlement. The said communication reads as under :-

Rama Industries

Engineers and Manufacturers

Rewari (Haryana)

30-3-2001

To

The Branch Manager,

State B