ANITA Vs. PUNJAB NATIONAL BANK

JUDGEMENT

(1.) This petition has been pending for more than five years and this Court would not like to keep it pending any further, having heard the learned counsel for rival parties at length. This Court is of the considered view that the only prayer made in the present petition is for direction to the respondent/Bank to accept the One Time Settlement (OTS) proposal submitted by the petitioner/borrower vide Annexures P-5, P-8, and P-11.

(2.) It is not disputed at the Bar that the secured asset was put to auction on four occasions, but the same could not fructify.

(3.) The present petition involves a large number of disputed questions of fact, which ought not to be gone into while exercising writ jurisdiction under Article 226 of the Constitution of India, especially when the petitioner has not availed the alternative statutory remedy of challenging the order dtd. 19/9/2018 passed u/s 14 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short 'SARFAESI Act') by the District Magistrate, Rewari, which came to be issued during the pendency of the present petition.