Office Notes,

reports, orders or proceedings

SL.

Date or directions COURT’S OR JUDGE’S ORDERS

No.

and Registrar’s

order with Signatures

WPMS/ 2742/ 2025

Hon’ble Manoj Kumar Tiwari, J

1. Mr. Manoj Mohan, learned counsel

for the petitioner.

2. Mr. Pallav Sharma, learned counsel appearing for the respondent-Finance

Company.

3. In the year 2019, petitioner took a commercial loan from respondent- Finance Company. Since there was default in repayment of the loan, therefore, respondent has invoked power under SARFAESI Act for realisation of

outstanding dues.

4. In this writ petition, petitioner has challenged a possession notice dated 23.06.2025 issued under Section 13(4) of SARFAESI Act. The amount outstanding against the petitioner, as on 23.06.2025, is indicated as ₹9,87,161/-

in the said possession notice.

5. Learned counsel for the petitioner submits that petitioner is ready and willing to repay the loan, however, owing to family circumstances, there was some default in repayment of loan. He submits that if petitioner is given an opportunity to submit proposal for one time settlement, he intends to enter into a 6. Mr. Pallav Sharma, learned counsel appearing for respondent submits that if petitioner submit a proposal for one time

in the Finance Company, then his request shall be considered favourably.

7. The writ petition is, accordingly, disposed of by permitting the petitioner to submit a proposal for one time settlement to the Competent Authority in the Finance Company. Petitioner will deposit upfront amount of ₹50,000/- with the Finance Company along with OTS proposal to show his bona fide. If petitioner submits such proposal, along with aforesaid amount, within ten days from today, the Competent Authority in the Finance Company, shall take decision thereupon within three weeks thereafter. For a period of four weeks or till decision is taken on petitioner’s proposal, whichever is earlier, no coercive action shall be taken against the petitioner.

8. In case of any default by the petitioner, he shall not be entitled to protection of this order and Finance Company will be free to proceed against him, in accordance with law.

(Manoj Kumar Tiwari, J)

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