JUDGMENT

(Dated this the 20^th day of February, 2026)

The petitioner is the Managing Director of J & A Foundation Pvt. Ltd., a company engaged in piling works across Kerala. According to the petitioner, a loan was availed from the respondent Bank in connection with the business activities of the company. Upon default in repayment, the 2^nd respondent initiated proceedings by filing O.A. No.131/2014 before the Debts Recovery Tribunal, Ernakulam, and obtained a Recovery Certificate.

2. Subsequently, a proclamation of sale was issued as Ext. P1 for the sale of four lots of properties as Schedules A to H.

3. The learned counsel for the petitioner submits that a third party was willing to purchase the petitioner’s property and that an agreement has already been executed between the petitioner and the said third party, which is produced as Ext. P2. The consideration shown therein is ₹32,00,000/-

(Rupees Thirty-Two Lakhs only).

4. It is further submitted that the petitioner had approached the 2^nd respondent with a one-time settlement proposal for ₹4 crores, which is produced as Ext. P3. However, the petitioner was served with Ext. P4 rejection notice.

Thereafter, another proposal was submitted as