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Judgment
Sathish Ninan, J.
Petitioners are faced with recovery proceedings in respect of liability due to 1st respondent Bank. More than Rs.7 lakhs is due to the Bank. Petitioners seek for compromise settlement on verification of the accounts.
Heard the learned counsel on both sides.
I am of the opinion that the request of the petitioners for a compromise settlement after verification of the accounts can be granted provided the petitioners show their bonafides.
Accordingly, the writ petitions are disposed of with the following directions:
(a) Petitioners shall pay an amount of Rs.2.5 lakhs within a period of three weeks from today.
(b) Along with the payment as above, if the petitioners make a request before the Bank for compromise settlement, the petitioners shall be provided with the statement of accounts and the request of the petitioners shall be considered by the Bank as per the Banks' norms and appropriate orders passed.
(c) Further proceedings for recovery will be in terms thereof.