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Judgment
Manoj Kumar Tiwari, CJ
1) Petitioner, a partnership firm, took a loan from Bank of India, Dehradun Branch. Since petitioner defaulted in repayment of loan, therefore, the bank initiated recovery proceedings against it. Debt Recovery Tribunal, Dehradun has decided against petitioner and now auction notice has been issued against him.
2) Learned counsel for the petitioner submits that secured assets have not been auctioned so far.
3) In this petition, petitioner has challenged the judgment rendered by DRT. Since petitioner has remedy of filing an appeal before the Appellate Authority, therefore, we are not inclined to entertain the challenge to the judgment rendered by the DRT, by the petitioner.
4) Learned counsel for the petitioner submits that petitioner is ready to repay the loan, and for that purpose, petitioner is willing to submit a proposal for One Time Settlement.
5) Mr. Vikas Pande, learned counsel for the bank submits that if that is the case, then petitioner can approach the competent authority in the bank by submitting its offer.
6) Accordingly, writ petition is disposed of with liberty to petitioner to approach the Chief Manager, Bank of India, Dehradun, with its offer, within 48 hours. If petitioner submits its proposal, the Chief Manager shall examine and take decision thereupon, as per law, within one week thereafter.
7) Let copy of this judgment be supplied to learned counsel for the parties today itself on payment of usual charges.