A petitioner can avoid coercive bank actions by complying with payment schemes under the SARFAESI Act.

JUDGMENT

It is aggrieved by the coercive action taken by the 1^st respondent under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act , 2002 (hereinafter referred to as the ‘SARFAESI Act' for short), this writ petition has been preferred by the petitioner.

2. Heard the learned counsel for the petitioner and the learned Standing Counsel for the 1^st respondent.

3. The learned Standing Counsel for the 1^st respondent submitted that, an One Time Settlement facility has been granted to the petitioner and as per the OTS scheme, an amount of Rs.49,30,000/- (Rupees Forty Nine Lakhs Thirty Thousand only), has to be remitted on or before 31.03.2026.

4. The learned counsel for the petitioner submitted that, the petitioner is willing to pay the afore amount, before

31.03.2026 and close the account.

In the light of the said submissions, this writ petition is disposed of, directing the petitioner to pay a sum of Rs.49,30,000/- (Rupees Forty Nine Lakhs Thirty Thousand only), to the bank, on or before 31.03.2026, as per the OTS scheme. If such payment is made by the petitioner, no coercive steps shall be taken by the 1^st respondent against the petitioner.