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loan account, as the petitioner is ready and willing to pay the overdue amount till date, or alternatively, to consider the petitioner’s case under the One Time Settlement (OTS) Scheme by paying a substantial amount, and also seeks issuance of a writ in the nature of prohibition staying the auction proceedings and/or taking of physical possession pursuant to the aforesaid notices during the pendency of the present writ petition, in the interest of justice.
On the last date of hearing, the following order was passed by this Court:-
“Learned Senior Counsel appearing for the respondent states that the total overdue amount in respect of both accounts of the petitioner is 5,19,656/-. Learned Counsel for the petitioner submits that he has brought a demand draft for 3,50,000/- and a cheque for 69,000/- and further submits that a demand draft for the remaining balance amount will be brought tomorrow so as to regularize the accounts of the petitioner. Learned Senior Counsel for the respondent states that in case the petitioner tenders the drafts towards the aforesaid overdue amount of 5,19,656/- tomorrow, both accounts of the petitioner shall stand regularized. Adjourned to 19.08.2026.”
Today, learned counsel for the petitioner submitted that he has handed over a demand draft of 3,50,000/- and another demand draft of � 2,01,581/- to the learned Senior Counsel appearing for the respondent/Bank.
Learned Senior Counsel for the respondent submitted that in view of the aforesaid fact that the overdue amount has been paid in full, the Bank will now regularise the account of the petitioner.
Both learned counsel for the parties have submitted that in view of the aforesaid position, the present petition may be disposed of.
Accordingly, the petition is disposed of.
At this stage, learned counsel for the petitioner has submitted that the petitioner has already filed another representation (Annexure P-4) for rescheduling of the loan account before the respondent/Bank and prays that he may be permitted to pursue the same before the Bank and a direction may be issued to the Bank to consider the said representation in accordance with law and decide it accordingly.
Learned Senior Counsel for the respondent Bank submitted that she has no objection to the aforesaid limited prayer for consideration of the representation (Annexure P-4) filed by the petitioner to the respondent/Bank in accordance with law.
In view of the above, it is directed that the representation (Annexure P-4) filed by the petitioner shall be considered and decided by the respondent/Bank in accordance with law within a period of three months from today.