JASVEER KAUR Vs. INDIAN BANK

JUDGEMENT

(1.) The only grievance raised in this petition by the petitioners, who are borrowers, as projected by the learned counsel for the petitioners, is that the One Time Settlement (OTS) proposal, which was made in November 2025, along with an upfront amount of Rs.47,00,000.00 deposited with the Bank, the same has not seen the light of the day and it is still under active consideration of the Bank.

(2.) The aforesaid situation is not disputed by learned counsel appearing virtually for the respondent-Bank.

(3.) Though we have been informed by the learned counsel for the respondent-Bank that notices dtd. 4/6/2022 and 23/8/2022 u/s 13 (2) of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act for brevity) and u/s 13 (4) of SARFAESI Act, respectively, have been issued and followed by sale of one of the mortgaged properties.