JUDGMENT

The petitioners admit that they are indebted for certain amounts to the erstwhile State Bank of Travancore and that this debt appears to have been assigned by the said Bank in favour of the respondent-Asset Reconstruction Company (ARC for short).

2. The limited prayer made by the petitioners in this Writ Petition is that the ARC be directed to allow them to pay off the entire liability by remitting the amounts that they have earlier agreed through Ext.P4, which was in the nature of a One-Time-Settlement between them. They say that for certain reasons, they were unable to make the payment under Ext.P4 and therefore, that they have preferred subsequent requests and representations to the ARC offering to pay the amounts indicated in Ext.P4, along with all applicable charges and interest and even modest compensation. They submit that, however, Ext.P6 Email was sent to them by the respondent-ARC that the One-Time-Settlement offer stands cancelled and that they will pursue further action under the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act ('the SARFAESI Act' for brevity). They, therefore, pray that Ext.P6 Email communication