Bank of Baroda vs Jaswant Singh and 3 Ors

Heard the learned counsel for the appellant.

Learned counsel for the appellant contends that the respondent nos. 2 to 4-Borrowers have already deposited the amount, therefore, perhaps for this reason, they are not appearing repeatedly before the Tribunal below. It is contended that an OTS proposal was moved by the borrowers before the bank along with an application for withdrawing the proceeding pending before the Tribunal below on account of settlement between the parties, thus the Tribunal below has passed the impugned order rejecting the OTS proposal on the ground of lesser amount.

It is further argued that since the settlement has been reached and the amount has already been deposited, therefore, the order of the Tribunal below cannot be sustained and as the respondents-Borrowers have already deposited the amount, therefore, they need not to be noticed. It is also contended that the OTS is under the specific scheme of the Government of India. Learned counsel for the appellant has reiterated that the affidavit of service was filed earlier, according to which all the respondents have been served, but the report of the postal department is that notice sent to the respondent nos. 1 to 4 have returned back with remark “recipient is out of town for a long time”.

It is contended by the learned counsel for the appellant that the settlement has already been reached between the parties, therefore, the Tribunal below may be directed to consider and decide the matter in accordance with said settlement arrived at between the parties.

In view of the above, there is remedy open to the appellant by filing appropriate application for redressal of his grievances before the Tribunal below within 10 days. If such application is filed, this Tribunal has no doubt that the Tribunal below shall consider and decide the same in accordance with law most expeditiously preferably within one month thereafter.

In view of the aforesaid, the present appeal is finally disposed off.