JUDGMENT

Jaswant Singh, J. - The present petition has been filed by the petitioners/principal borrowers who had availed two credit facilities from Respondent No. 2 - a Non Banking Financial Company and are aggrieved of the inaction of the respondent No. 2 in considering their application for grant of extension in time, for making the repayment of the balance settlement amount in terms of One Time Settlement (OTS) dated 02.01.2019 (AnnexureP-11) entered between the petitioners and respondent No. 2.

2. In brief, the pleaded case of petitioners, who are husband and wife, is that they had availed two Term Loans (Loan Against Property) from Respondent No. 2 on 12.08.2015. The first Term Loan was sanctioned for Rs.1.45 Crore (Annexure P-1) in the shape of Loan Against Property (LAP) against the security of a residential house and was repayable in a tenure of15 years with Equated Monthly Instalment (EMI) of Rs.2,07,036/-. The second Term Loan was availed for Rs. 58' Lakhs, against the same security of the said residential house, (mortgaged in both the accounts) which was to be repaid in a tenure of 30 years with Equated Monthly Instalment of Rs.75,284/-.

3. The petitioners are stated to be