RAVI KANDOI Vs. STATE BANK OF INDIA

JUDGEMENT

(1.) It is not in dispute that the petitioners happen to be the borrowers and having taken a financial assistance from the respondents bank are facing the proceedings drawn against them by issuance of notice under Sec. 13(2) of the SARFAESI Act on 10/8/2017 and consequent notice dtd. 6/2/2018, which has been issued by the respondents under Sec. 13(4) read with Rule 8(1) of the Rules framed under the Act.

(2.) Simultaneously, the petitioners have also argued that under the scheme floated by the respondents which is called as RINN Samadhan Scheme, it provides an opportunity of one-time settlement to the defaulter. The petitioners have filed an application before the respondents for seeking the benefit under the said scheme for consideration of the one time settlement.

(3.) Since the scheme itself has been floated by the respondents Bank and in accordance with the stand taken by the petitioners, they already applied under the same. The fact as to whether the petitioners are entitled to be benefited by the scheme or not is a question which the bank was bound to decide. Till date, no decision has been taken on the same and the same is pending consideration.