JUDGMENT

Dated this the 4th day of November, 2022 The petitioner availed a chitty loan of Rs. 20 Lakhs from the 2nd respondent in the year 2012. According to the petitioner, the loan was repaid promptly till 2014, but fell in default due to unforeseen circumstances. The petitioner had earlier approached the 2nd respondent with an offer to close the loan under One Time Settlement Scheme. The 1st respondent acceded to the request and gave substantial deductions. The petitioner could not raise the amount and effect payment. Hence, the 1st respondent initiated revenue recovery proceedings.

2. Learned Counsel for the petitioner submitted that, even now the petitioner is willing to pay off the entire amount by availing the OTS benefit. On the earlier occasion, although petitioner had raised a substantial amount, the entire amount required for closing the loan under OTS facility was not available at that point of time.

3. Learned counsel for respondents 1 and 2 submitted that, the petitioner having failed to close the loan account despite granting OTS facility, the facility cannot be granted again. It is pointed out that the only option available to the petitioner is to approach the Managing Director of the 1st respondent or any competent officer authorized by the Managing Director with a reasonable proposal. In such event, the request will be considered and an appropriate decision taken.

4. I find merit in the contention of the learned Standing Counsel that, having failed to avail OTS benefit on the earlier occasion, the 1st respondent cannot be compelled to grant the facility again.

Therefore, the writ petition is disposed of directing the petitioner to approach the Managing Director of the 1st respondent with a proposal for settlement of the loan account.

On such proposal being submitted, the same shall be considered and appropriate decision taken expeditiously.

Sd/- V.G.ARUN JUDGE sb APPENDIX PETITIONER'S EXTS:

EXT. P1 : TRUE COPY OF THE NOTICE DATED 9.3.2017 ISSUED BY THE 3RD RESPONDENT.

EXT. P2 : TRUE COPY OF NOTICE DATED 27.5.2017 ISSUED BY THE 3RD RESPONDENT.

EXT. P3 : TRUE COPY OF NOTICE DATED 5.6.2017 ISSUED BY THE 3RD RESPONDENT.

EXT. P4 : TRUE COPY OF THE LETTER DATED 21.6.2022 OF THE 1ST RESPONDENT.

EXT. P5 : TRUE COPPY OF THE AGREEMENT DATED 22.8.2022.

EXT. P6 : TRUE COPY OF THE E-MAIL FROM THE 2ND RESPONDENT.