Karnataka High Court
Shri Maruti S/O Vaiju Kadolkar vs The Branch Manager on 21 July, 2022
Author: R.Devdas
Bench: R.Devdas
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WP No. 102689 of 2022
AND CONNECTED MATTERS
IN THE HIGH COURT OF KARNATAKA, DHARWAD BENCH
DATED THIS THE 21ST DAY OF JULY, 2022
BEFORE
THE HON'BLE MR JUSTICE R.DEVDAS
WRIT PETITION NO.102689 OF 2022 (GM-RES)
C/W
WRIT PETITION NOS. 102690, 102691, 102692, 102693,
102694, 102695, 102696, 102697, 102698, 102699,
102700 AND 102701 OF 2022 (GM-RES)
IN W.P.NO.102689/2022
BETWEEN:
SHRI MARUTI S/O VAIJU KADOLKAR
AGE. 42 YEARS, OCCU. BUSINESS,
R/O. PLOT NO.46, BIDYAGIRI,
BAUXITE ROAD, BELAGAVI 590010.
...PETITIONER
(BY SRI. SANTOSH P.PUJARI.,ADVOCATE)
AND:
1. THE BRANCH MANAGER
UNION BANK OF INDIA,
R/O. SHIVAJI ROAD, YELLUR, BELAGAVI 591146.
2. THE REGIONAL MANAGER
UNION BANK OF INDIA,
R/O. 1ST FLOOR MOORUSAVIRAMATH,
PRESS BUILDING NEW COTTON MARKET,
HUBBALLI 578151.
3. THE FIELD GENERAL MANAGER
UNION BANK OF INDIA,
FGM OFFICE BENGALURU 10,
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WP No. 102689 of 2022
AND CONNECTED MATTERS
CHANDRAKIRAN KASTURBA ROAD,
BANGALORE 560001.
...RESPONDENTS
(BY SRI.G.S.HULAMANI, ADVOCATE)
THIS WRIT PETITION IS FILED UNDER ARTICLES 226 AND 227
OF THE CONSTITUTION OF INDIA PRAYING TO ISSUE A WRIT OF
MANDAMUS OR ANY OTHER ORDER OR DIRECTIONS TO THE
RESPONDENTS TO CONSIDER THE ONE TIME SETTLEMENT
PROPOSAL OF THE PETITIONER DTD.21/06/2022 VIDE ANNEXURE-A.
IN W.P.NO.102690/2022
BETWEEN:
HARE KRISHNA MOTORS
R/BY ITS PROPRIETOR
SHRI . MARUTI S/O. VAIJU KADOLKAR,
AGE. 42, OCC. BUSINESS,
R/O. PLOT NO.46, VIDYAGIRI,
BAUXITE ROAD, BELAGAVI-590010
...PETITIONER
(BY SRI. SANTOSH P. PUJARI.,ADVOCATE)
AND:
1. THE BRANCH MANAGER
UNION BANK OF INDIA,
R/O. BELUR INDUSTRIAL AREA,
DHARWAD HIGH COURT ROAD, DHARWAD-580011
2. THE REGIONAL MANAGER,
UNION BANK OF INDIA,
R/O. 1ST FLOOR, MOORUSAVIRAMATH,
PRESS BUILDING, NEW COTTON MARKET,
HUBBALLI-578151
3. THE FEILD GENERAL MANAGER,
UNION BANK OF INDIA,
FGM OFFICE - BENGALURU 10A,
CHANDRAKIRAN, KASTURBA ROAD, BENGALURU-560001
...RESPONDENTS
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WP No. 102689 of 2022
AND CONNECTED MATTERS
(BY SRI.G.S.HULAMANI, ADVOCATE)
THIS WRIT PETITION IS FILED UNDER ARTICLES 226 AND 227
OF THE CONSTITUTION OF INDIA PRAYING TO ISSUE A WRIT OF
MANDAMUS OR ANY OTHER ORDER OR DIRECTIONS TO THE
RESPONDENTS TO CONSIDER THE ONE TIME SETTLEMENT
PROPOSAL OF THE PETITIONER DTD.21/06/2022 VIDE ANNEXURE-A.
IN W.P.NO.102691/2022
BETWEEN:
SHRI MARUTI S/O VAIJU KADOLKAR
AGE. 42 YEARS, OCC. BUSINESS,
R/O. PLOT NO. 46, VIDYAGIRI,
BAUXITE ROAD, BELAGAVI 590010.
...PETITIONER
(BY SRI. SANTOSH P. PUJARI.,ADVOCATE)
AND:
1. THE BRANCH MANAGER
UNION BANK OF INDIA,
R/O. BELUR INDUSTRIAL AREA,
DHARWAD HIGH COURT ROAD, DHARWAD 580011.
2. THE REGIONAL MANAGER
UNION BANK OF INDIA,
R/O. 1ST FLOOR MOORUSAVIRAMATH,
PRESSING BUILDING NEW COTTON MARKET,
HUBBALLI 578151.
3. THE FIELD GENERAL MANAGER
UNION BANK OF INDIA,
FGM OFFICE, BENGALURU 10A,
CHANDRAKIRAN, KUSTURBA ROAD,
BANGALORE 560001.
...RESPONDENTS
(BY SRI.G.S.HULAMANI, ADVOCATE)
-4-
WP No. 102689 of 2022
AND CONNECTED MATTERS
THIS WRIT PETITION IS FILED UNDER ARTICLES 226 AND 227
OF THE CONSTITUTION OF INDIA PRAYING TO ISSUE A WRIT OF
MANDAMUS OR ANY OTHER ORDER OR DIRECTIONS TO THE
RESPONDENTS TO CONSIDER THE ONE TIME SETTLEMENT
PROPOSAL OF THE PETITIONER DTD.21/06/2022 VIDE ANNEXURE-A.
IN W.P.NO.102692/2022
BETWEEN:
SHRI MARUTI S/O VAIJU KADOLKAR
AGE. 42 YEARS, OCCU. BUSINESS,
R/O. PLOT NO.46, VIDYAGIRI,
BAUXITE ROAD, BELAGAVI 590010.
...PETITIONER
(BY SRI. SANTOSH P. PUJARI.,ADVOCATE)
AND:
1. THE BRANCH MANAGER
UNION BANK OF INDIA,
R/O. BELUR INDUSTRIAL AREA,
DHARWAD HIGH COURT ROAD,
DHARWAD 580011.
2. THE REGIONAL MANAGER
UNION BANK OF INDIA,
R/O. 1ST FLOOR MOORUSAVIRAMATH,
PRESS BUILDING,
NEW COTTON MARKET,
HUBBALLI 578151.
3. THE FIELD GENERAL MANAGER
UNION BANK OF INDIA,
FGM OFFICE BENGALURU 10A,
CHANDRAKIRAN, KASTURBA ROAD,
BANGALORE 560001.
...RESPONDENTS
(BY SRI.G.S.HULAMANI, ADVOCATE)
-5-
WP No. 102689 of 2022
AND CONNECTED MATTERS
THIS WRIT PETITION IS FILED UNDER ARTICLES 226 AND 227
OF THE CONSTITUTION OF INDIA PRAYING TO ISSUE A WRIT OF
MANDAMUS OR ANY OTHER ORDER OR DIRECTIONS TO THE
RESPONDENTS TO CONSIDER THE ONE TIME SETTLEMENT
PROPOSAL OF THE PETITIONER DTD.21/06/2022 VIDE ANNEXURE-A.
IN W.P.NO.102693/2022
BETWEEN:
HARE KRISHNA TRANSPORT
REPRESENTED BY ITS PARTNER
SHRI MARUTI S/O VAIJU KODOLKAR,
AGE. 42 YEARS, OCCU. BUSINESS,
R/O. PLOT NO.46, VIDYAGIRI,
BAUXITE ROAD, BELAGAVI 590010.
...PETITIONER
(BY SRI. SANTOSH P. PUJARI.,ADVOCATE)
AND:
1. THE BRANCH MANAGER
UNION BANK OF INDIA,
R/O. BELUR INDUSTRIAL AREA,
DHARWAD HIGH COURT ROAD,
DHARWAD 580011.
2. THE REGIONAL MANAGER
UNION BANK OF INDIA,
R/O. 1ST FLOOR MOORUSAVIRAMATH,
PRESS BUILDING, NEW COTTON MARKET,
HUBBALLI 578151.
3. THE FILED GENERAL MANAGER
UNION BANK OF INDIA,
FGM OFFICE, BENGALURU 10A,
CHANDRAKIRAN, KUSTURBA ROAD,
BANGALORE 560001.
...RESPONDENTS
(BY SRI.G.S.HULAMANI, ADVOCATE)
-6-
WP No. 102689 of 2022
AND CONNECTED MATTERS
THIS WRIT PETITION IS FILED UNDER ARTICLES 226 AND 227
OF THE CONSTITUTION OF INDIA PRAYING TO ISSUE A WRIT OF
MANDAMUS OR ANY OTHER ORDER OR DIRECTIONS TO THE
RESPONDENTS TO CONSIDER THE ONE TIME SETTLEMENT
PROPOSAL OF THE PETITIONER DTD.21/06/2022 VIDE ANNEXURE-A.
IN W.P.NO.102694/2022
BETWEEN:
SMT MATHURA W/O MARUTI KADOLKAR
AGE. 40 YEARS, OCCU. BUSINESS,
R/O. PLOT NO. 46, VIDYAGIRI,
BAUXITE ROAD, BELAGAVI 590010.
...PETITIONER
(BY SRI. SANTOSH P. PUJARI.,ADVOCATE)
AND:
1. THE BRANCH MANAGER
UNION BANK OF INDIA,
R/O. BELUR INDUSTRIAL AREA,
DHARWAD HIGH COURT ROAD,
DHARWAD 580011.
2. THE REGIONAL MANAGER
UNION BANK OF INDIA,
R/O. 1ST FLOOR MOORUSAVIRAMATH,
PRESS BUILDING NEW COTTON MARKET,
HUBBALLI 578151.
3. THE FIELD GENERAL MANAGER
UNION BANK OF INDIA,
FGM OFFICE, BENGALURU 10A,
CHANDRAKIRAN, KUSTURBA ROAD,
BANGALORE 560001.
...RESPONDENTS
(BY SRI.G.S.HULAMANI, ADVOCATE)
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WP No. 102689 of 2022
AND CONNECTED MATTERS
THIS WRIT PETITION IS FILED UNDER ARTICLES 226 AND 227
OF THE CONSTITUTION OF INDIA PRAYING TO ISSUE A WRIT OF
MANDAMUS OR ANY OTHER ORDER OR DIRECTIONS TO THE
RESPONDENTS TO CONSIDER THE ONE TIME SETTLEMENT
PROPOSAL OF THE PETITIONER DTD.21/06/2022 VIDE ANNEXURE-A.
IN W.P.NO.102695/2022
BETWEEN:
HARE KRISHNA TRANSPORT
R/BY ITS PROPRIETOR
SHRI . MARUTI S/O. VAIJU KADOLKAR,
AGE. 42, OCC. BUSINESS,
R/O. PLOT NO.46, VIDYAGIRI,
BAUXITE ROAD, BELAGAVI-590010
...PETITIONER
(BY SRI. SANTOSH P.PUJARI.,ADVOCATE)
AND:
1. THE BRANCH MANAGER
UNION BANK OF INDIA,
R/O. BELUR INDUSTRIAL AREA,
DHARWAD HIGH COURT ROAD,
DHARWAD-580011
2. THE REGIONAL MANAGER,
UNION BANK OF INDIA,
R/O. 1ST FLOOR, MOORUSAVIRAMATH,
PRESS BUILDING, NEW COTTON MARKET,
HUBBALLI-578151
3. THE FIELD GENERAL MANAGER
UNION BANK OF INDIA,
FGM OFFICE - BENGALURU 10A,
CHANDRAKIRAN, KASTURBA ROAD,
BENGALURU-560001
...RESPONDENTS
(BY SRI.G.S.HULAMANI, ADVOCATE)
-8-
WP No. 102689 of 2022
AND CONNECTED MATTERS
THIS WRIT PETITION IS FILED UNDER ARTICLES 226 AND 227
OF THE CONSTITUTION OF INDIA PRAYING TO ISSUE A WRIT OF
MANDAMUS OR ANY OTHER ORDER OR DIRECTIONS TO THE
RESPONDENTS TO CONSIDER THE ONE TIME SETTLEMENT
PROPOSAL OF THE PETITIONER DTD.21/06/2022 VIDE ANNEXURE-A.
IN W.P.NO.102696/2022
BETWEEN:
SHRI MARUTI S/O VAIJU KADOLKAR
AGE. 42 YEARS, OCC. BUSNESS,
R/O. PLOT NO.46, VIDYAGIRI,
BAUXITE ROAD, BELAGAVI 590010.
...PETITIONER
(BY SRI. SANTOSH P. PUJARI.,ADVOCATE)
AND:
1. THE BRANCH MANAGER
UNION BANK OF INDIA,
R/O. BELUR INDUSTRIAL AREA DHARWAD HIGH COURT
ROAD, DHRWAD 580001.
2. THE REGIONAL MANAGER
UNION BANK OF INDIA,
R/O. 1ST FLOOR MOORUSAVIRAMATH,
PRESS BUILDING, NEW COTTON MARKET,
HUBBALLI 578151.
3. THE FIELD GENERAL MANAGER
UNION BANK OF INDIA,
FGM OFFICE BENGALURU 10A,
CHANDRAKIRAN, KASTURBA ROAD,
BANGALORE 560001.
...RESPONDENTS
(BY SRI.G.S.HULAMANI, ADVOCATE)
THIS WRIT PETITION IS FILED UNDER ARTICLES 226 AND 227
OF THE CONSTITUTION OF INDIA PRAYING TO ISSUE A WRIT OF
MANDAMUS OR ANY OTHER ORDER OR DIRECTIONS TO THE
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WP No. 102689 of 2022
AND CONNECTED MATTERS
RESPONDENTS TO CONSIDER THE ONE TIME SETTLEMENT
PROPOSAL OF THE PETITIONER DTD.21/06/2022 VIDE ANNEXURE-A.
IN W.P.NO.102697/2022
BETWEEN:
HARE KRISHNA TRANSPORT
REPRESENTED BY ITS PARTNER,
SHRI MARUTI S/O VAIJU KADOLKAR,
AGE. 42 YEARS, OCCU. BUSINESS,
R/O. PLOT NO. 26, VIDYAGIRI,
BAUXITE ROAD, BELAGAVI 590010.
...PETITIONER
(BY SRI. SANTOSH P.PUJARI.,ADVOCATE)
AND:
1. THE BRANCH MANAGER
UNION BANK OF INDIA,
R/O. BELUR INDUSTRIAL AREA,
DHARWAD HIGH COURT ROAD,
DHARWAD 580011
2. THE REGIONAL MANAGER
UNION BANK OF INDIA,
R/O. 1ST FLOOR MOORUSAVIRAMATH,
PRESS BUILDING, NEW COTTON MARKET,
HUBBALLI 578151.
3. THE FIELD GENERAL MANAGER
UNION BANK OF INDIA,
FGM OFFICE, BENGALURU 10A,
CHANDRAKIRAN, KUSTURBA ROAD,
BANGALORE 560001.
...RESPONDENTS
(BY SRI.G.S.HULAMANI, ADVOCATE)
THIS WRIT PETITION IS FILED UNDER ARTICLES 226 AND 227
OF THE CONSTITUTION OF INDIA PRAYING TO ISSUE A WRIT OF
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WP No. 102689 of 2022
AND CONNECTED MATTERS
MANDAMUS OR ANY OTHER ORDER OR DIRECTIONS TO THE
RESPONDENTS TO CONSIDER THE ONE TIME SETTLEMENT
PROPOSAL OF THE PETITIONER DTD.21/06/2022 VIDE ANNEXURE-A.
IN W.P.NO.102698/2022
BETWEEN:
SHRI MARUTI S/O VAIJU KADOLKAR
AGE. 42, OCC. BUSINESS,
R/O. PLOT NO.46, VIDYAGIRI,
BAUXITE ROAD, BELAGAVI-590010
...PETITIONER
(BY SRI. SANTOSH P.PUJARI.,ADVOCATE)
AND:
1. THE BRANCH MANAGER
UNION BANK OF INDIA,
R/O. BELUR INDUSTRIAL AREA,
DHARWAD HIGH COURT ROAD,
DHARWAD-580011
2. THE REGIONAL MANAGER,
UNION BANK OF INDIA,
R/O. 1ST FLOOR, MOORUSAVIRAMATH,
PRESS BUILDING, NEW COTTON MARKET,
HUBBALLI-578151
3. THE FILED GENERAL MANAGER
UNION BANK OF INDIA,
FGM OFFICE - BENGALURU 10A,
CHANDRAKIRAN, KASTURBA ROAD,
BENGALURU-560001
...RESPONDENTS
(BY SRI.G.S.HULAMANI, ADVOCATE)
THIS WRIT PETITION IS FILED UNDER ARTICLES 226 AND 227
OF THE CONSTITUTION OF INDIA PRAYING TO ISSUE A WRIT OF
MANDAMUS OR ANY OTHER ORDER OR DIRECTIONS TO THE
- 11 -
WP No. 102689 of 2022
AND CONNECTED MATTERS
RESPONDENTS TO CONSIDER THE ONE TIME SETTLEMENT
PROPOSAL OF THE PETITIONER DTD.21/06/2022 VIDE ANNEXURE-A.
IN W.P.NO.102699/2022
BETWEEN:
HARE KRISHNA MOTORS
REPRESENTED BY ITS PROPRIETOR
SHRI MARUTI S/O VAJJU KADOLKAR
AGE. 42, OCCU. BUSINESS,
R/O. PLOT NO. 46, VIDYAGIRI
BAUXITE ROAD, BELAGAVI - 590010.
...PETITIONER
(BY SRI. SANTOSH P.PUJARI.,ADVOCATE)
AND:
1. THE BRANCH MANAGER
UNION BANK OF INDIA
R/O. BELUR INDUSTRIAL AREA DHARWAD
HIGH COURT ROAD, DAHRWAD 580011.
2. THE REGIONAL MANAGER
UNION BANK OF INDIA
R/O 1ST FLOOR MOORUSAVIRAMATH PRESS BUILDING
NEW COTTON MARKET HUBALLI -578151
3. THE FIELD GENERAL MANAGER
UNION BANK OF INDIA FGM OFFICE - BENGALURU 10-A
CHANDRAKIRAN KASTURBA ROAD,
BANGALORE 560001.
...RESPONDENTS
(BY SRI.G.S.HULAMANI, ADVOCATE)
THIS WRIT PETITION IS FILED UNDER ARTICLES 226 AND 227
OF THE CONSTITUTION OF INDIA PRAYING TO ISSUE A WRIT OF
MANDAMUS OR ANY OTHER ORDER OR DIRECTIONS TO THE
RESPONDENTS TO CONSIDER THE ONE TIME SETTLEMENT
PROPOSAL OF THE PETITIONER DTD.21/06/2022 VIDE ANNEXURE-A.
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WP No. 102689 of 2022
AND CONNECTED MATTERS
IN W.P.NO.102700/2022
BETWEEN:
SHRI GAJANAN HANUMANT SABHAJICHE
AGE. 44, OCC. BUSINESS,
R/O. C/O. PLOT NO.46, VIDYAGIRI,
BAUXITE ROAD, BELAGAVI-590010
...PETITIONER
(BY SRI. SANTOSH P.PUJARI.,ADVOCATE)
AND:
1. THE BRANCH MANAGER
UNION BANK OF INDIA,
R/O. BELUR INDUSTRIAL AREA,
DHARWAD HIGH COURT ROAD, DHARWAD-580011
2. THE REGIONAL MANAGER,
UNION BANK OF INDIA,
R/O. 1ST FLOOR, MOORUSAVIRAMATH,
PRESS BUILDING, NEW COTTON MARKET,
HUBBALLI-578151
3. THE FIELD GENERAL MANAGER
UNION BANK OF INDIA,
FGM OFFICE - BENGALURU 10A,
CHANDRAKIRAN, KASTURBA ROAD, BENGALURU-560001
...RESPONDENTS
(BY SRI.G.S.HULAMANI, ADVOCATE)
THIS WRIT PETITION IS FILED UNDER ARTICLES 226 AND 227
OF THE CONSTITUTION OF INDIA PRAYING TO ISSUE A WRIT OF
MANDAMUS OR ANY OTHER ORDER OR DIRECTIONS TO THE
RESPONDENTS TO CONSIDER THE ONE TIME SETTLEMENT
PROPOSAL OF THE PETITIONER DTD.21/06/2022 VIDE ANNEXURE-A.
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WP No. 102689 of 2022
AND CONNECTED MATTERS
IN W.P.NO.102701/2022
BETWEEN:
HARE KRISHNA ENTERPRISES AND MILK SUPPLIERS
REPRESENTED BY ITS PROPRIETOR,
SHRI MARUTI S/O VAIJU KADOLKAR, AGE. 42 YEARS,
OCCU. BUSINESS, R/O. PLOT NO. 46, VIDYAGIRI,
BAUXITE ROAD, BELAGAVI 590010.
...PETITIONER
(BY SRI. SANTOSH P.PUJARI.,ADVOCATE)
AND:
1. THE BRANCH MANAGER
UNION BANK OF INDIA,
R/O. SHIVAJI ROAD, YELLUR, BELAGAVI, 591146.
2. THE REGIONAL MANAGER
UNIONBANK OF INDIA,
R/O. 1ST FLOOR MOORUSAVIRAMATH,
PRESS BUILDING NEW COTTON MARKET,
HUBBALLI 578151.
3. THE FIELD GENERAL MANAGER
UNION BANK OF INDIA,
FGM OFFICE BENGALURU 10A,
CHANDRAKIRAN, KASTURBA ROAD,
BANGALORE 560001.
...RESPONDENTS
(BY SRI.G.S.HULAMANI, ADVOCATE)
THIS WRIT PETITION IS FILED UNDER ARTICLES 226 AND 227
OF THE CONSTITUTION OF INDIA PRAYING TO ISSUE A WRIT OF
MANDAMUS OR ANY OTHER ORDER OR DIRECTIONS TO THE
RESPONDENTS TO CONSIDER THE ONE TIME SETTLEMENT
PROPOSAL OF THE PETITIONER DTD.21/06/2022 VIDE ANNEXURE-A.
THESE WRIT PETITIONS COMING ON FOR PRELIMINARY
HEARING THIS DAY THE COURT MADE THE FOLLOWING.
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WP No. 102689 of 2022
AND CONNECTED MATTERS
COMMON ORDER
R.DEVDAS J., (ORAL):
Since the grievance of the petitioners in all these matters are common, inasmuch as the petitioners having obtained loan/financial assistance from the respondent- bank, are seeking writ of mandamus directing the respondent-bank to consider the case of the petitioners for One Time Settlement in terms of the OTS scheme of the respondents-bank, as found at Annexure-B, which is valid upto 30.09.2022, these matters are disposed of by this common order.
2. It was pointed out by the learned counsel for the respondent-bank that earlier the petitioners were before this court and various orders have been passed, including one in W.P.No.100008/2022 dated 07.01.2022 permitting the petitioners to file a fresh undertaking before the Debts Recovery Tribunal in the pending proceedings in SA No.325/2021 within a period of two weeks and in spite of the petitioners filing an undertaking before the Tribunal,
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WP No. 102689 of 2022
AND CONNECTED MATTERS nevertheless, the Tribunal has not passed any orders till date. Learned counsel for the respondent-bank has pointed out from the said order dated 07.01.2022 that there are allegation of fraud on the petitioners. Nevertheless, after hearing the learned counsels and on perusing the petition papers, this court find that if the petitioners are entitled to seek benefit of OTS scheme, the same should be granted by the respondent-bank. It has been pointed out from the OTS scheme that the petitioners will have to deposit OTS amount as per the settlement formula provided in the scheme itself. On the basis of the information available on record, it is found that balance outstanding amount including interest is around Rs.7.5 crores and the petitioners will have to deposit about Rs.35 lakhs even in terms of the said scheme.
3. Although it is the contention of the learned counsel for the petitioners that if 5% of the OTS amount is to be worked out in terms of the formula provided in the
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WP No. 102689 of 2022
AND CONNECTED MATTERS scheme, the 5% amount would be much less than Rs.35 lakhs, nevertheless, learned counsel for the petitioners has submitted that petitioners may be directed to deposit Rs.35 lakhs as 5% of the OTS amount in order to enable the respondent-bank to consider the proposal of OTS settlement for the petitioners. Learned counsel would further submit that the petitioners will deposit the said sum on or before 01.08.2022 with the respondent-bank.
4. Having regard to the submission made by the learned counsel for the petitioners, this court is of the considered opinion that, in order to give a quietus to this litigation, a direction could be given to the respondent- bank to consider the proposal that would be given by the petitioners. Consequently, this court proceeds to pass the following:
ORDER
i) All these writ petitions stand disposed of permitting the petitioners to deposit Rs.35
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WP No. 102689 of 2022
AND CONNECTED MATTERS lakhs with the respondent-bank on or before 01.08.2022;
ii) This amount that would be deposited by the petitioners shall be considered as 5% of the OTS amount as per the OTS scheme at Annexure-B;
iii) If the petitioners deposit the said amount, the respondent-bank shall consider the proposal in terms of the scheme. After considering the proposal, if any settlement is arrived at, the petitioners shall be bound by the said settlement;
iv) In case, the proposal given by the petitioners is not accepted by the respondent-bank, the respondent-bank shall be free to proceed against the petitioners and take possession of the securities offered by the petitioners;
v) However, as requested by the learned counsel for the petitioners, insofar as dwelling units of the petitioners are concerned, a breathing time of 15 days shall be given by the respondent- bank to enable the petitioners to vacate the same and handover the possession of the dwelling units voluntarily;
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WP No. 102689 of 2022
AND CONNECTED MATTERS
vi) Similarly, the respondent-bank shall proceed to take possession of other secured assets by granting a period of 7 days to the petitioners to vacate and handover the vacant possession, voluntarily;
vii) This order shall not be understood to have in any way restrained the respondent-bank to take support of the authorities including the police officials to take possession of the secured assets.
viii) Ordered accordingly.
SD JUDGE MBS