CLASSIC AGENCIES Vs. REGIONAL OFFICE, INDIAN OVERSEAS BANK

JUDGEMENT

(1.) The appellants-petitioners filed W.P.(C)No.24490 of 2025 invoking the extraordinary jurisdiction of this Court under Article 226 of the Constitution of India, seeking a writ of mandamus commanding the 2nd respondent Indian Overseas Bank not to cancel the One Time Settlement (OTS) facility granted vide Ext.P2 sanction letter dtd. 26/12/2024 and to consider favourably the proposal made by the petitioners in Ext.P6 request dtd. 16/6/2025, for extending the timeline of the OTS facility sanctioned vide Ext.P2. The petitioners have also sought for a writ of mandamus commanding the respondents to keep in abeyance all coercive steps against the secured assets, till a decision is taken by Indian Overseas Bank on the proposal made in Ext.P6 request for extending the timeline of the OTS facility sanctioned vide Ext.P2.

(2.) Before the learned Single Judge, the learned Standing Counsel for Indian Overseas Bank filed a statement dtd. 17/7/2025, opposing the reliefs sought for. By the judgment dtd. 1/8/2025, the learned Single Judge disposed of the writ petition, taking note of the submission made by the learned Standing Counsel for Indian Overseas Bank that the Bank has already taken a decision on the proposal made by the petitioners in Ext.P6 request. In the said judgment, the learned Single Judge directed the respondents to communicate the decision taken on Ext.P6 request within a week. To enable the petitioners to work out their remedies, it was ordered that no steps shall be taken by the Bank, against the petitioners, for a period of two weeks.

(3.) Feeling aggrieved by the judgment dtd. 1/8/2025 of the learned Single Judge in W.P.(C)No.24490 of 2025, the appellants-petitioners are before this Court in this writ appeal, invoking the provisions under Sec. 5(i) of the Kerala High Court Act, 1958.