The court allows the petitioner to propose a One Time Settlement to the bank with conditions on compliance and suspension of recovery proceedings.

JUDGMENT

This writ petition has been filed challenging the proceedings initiated by the respondent bank to recover amounts due under the credit facilities availed by the petitioner from the respondent bank.

2. When this matter is taken up for consideration today, it is the submission of the learned counsel appearing for the petitioner that the petitioner may be permitted to approach the respondent bank for One Time Settlement.

3. Learned counsel appearing for the respondent bank submits that, calculated with reference to the date 31.01.2026, the liability of the petitioner is Rs.6,27,574/- (Rupees Six lakhs twenty seven thousand five hundred and seventy four only).

4. Having heard the learned counsel appearing for the petitioner and the learned counsel appearing for the respondent bank and considering the limited nature of relief now sought for by the petitioner, this writ petition will stand disposed of, directing that if the petitioner were to approach the bank with a proposal for One Time Settlement in terms of any Scheme that may be available within a period of one week from today, the said application shall be considered by the Competent Authority of the respondent bank . The said Authority shall take a decision on the application, without undue delay. The decision on the application to be submitted by the petitioner shall also be intimated to the petitioner specifying the amount to be paid. If an application is submitted within the time specified, further recovery proceedings against the petitioner shall remain suspended till a decision is taken by the Competent Authority. It is made clear that if One Time Settlement is granted to the petitioner, the petitioner will be governed by the terms of the One Time Settlement and the petitioner shall duly and faithfully comply with the terms of One Time Settlement. If the petitioner fails to comply with the terms of One Time Settlement, it will be open to the respondent bank to continue with the proceedings initiated against the petitioner.

The writ petition is disposed of as above.

Sd/-