SANTHOSH KUMAR V P Vs. MANAGER

JUDGEMENT

(1.) IN this writ petition, petitioners are challenging the proceedings initiated by the Bank evidenced by Exts.P11 and P13, under Section 13(2) and (4) of the SARFAESI Act. The main ground on which the relief is sought is that the petitioners are Micro Industries covered by the Micro Small and Medium Enterprises Development Act, 2006 and that in respect of such Industries, One Time Settlement Scheme introduced by the Reserve Bank of India is in force and that it is entitled to such benefits.

(2.) IN the counter affidavit, the Bank has justified its action and has also detailed the various liabilities that are due from the petitioners. However, insofar as the claim of the petitioners for the benefit of the settlement of their liability is concerned, in the concluding paragraph of its counter affidavit, the Bank has stated that it is agreeable to take up the matter further with the higher authorities of the Bank for settlement of the liability with maximum concession provided petitioner approaches the Bank for further discussions and with the concrete proposals.

(3.) THEREFORE, I dispose of this writ petition leaving it open to the petitioners to approach the respondent Bank in which event, as stated in the counter affidavit, Bank will consider the claim of the petitioners for settlement of liability.