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Judgment
Surya Kant, J. (Oral)
The loan amount recoverable from the petitioner-borrower is Rs.3.84 crores as on 19.02.2018. The respondent bank has taken physical possession
of the secured assets though according to the petitioner Bank has taken possession of the area far-in-excess of the mortgaged space.
In our considered view, such like question of facts cannot be determined in these writ proceedings as the petitioner has got an efficacious alternative
remedy to approach the Debts Recovery Tribunal. Still further, 'One Time Settlement' proposal submitted by the petitioner has already been rejected
by the respondent-bank. Nevertheless, with a view to give one more opportunity to the petitioner to settle its loan account, the writ petition is
disposed of with liberty to it to submit a fresh 'One Time Settlement' proposal to the bank within one week from today, which may be considered by
the bank sympathetically and in accordance with the bank policy. In the event of submission of such proposal, the secured assets may not be
auctioned without first considering the said proposal.
As regard to removal of goods lying in the premises which is now in physical possession of the respondent-bank, learned counsel for the bank states
that he has no objection to this. The petitioner may intimate the authorized representative of the bank, the date and time when its representative will
visit the premises and remove the goods.
Ordered accordingly.
Dasti.