BRIJ LAL Vs. STATE BANK OF INDIA

JUDGEMENT

(1.) This writ petition has been filed by petitioner- Brij Lal assailing the demand notice, dtd. 7/1/2019 issued to him by respondent- Bank under Sec. 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, with the prayer that the respondents- Bank be directed to consider the application of the petitioner (Annexure P- 2), dtd. 2/8/2019 and grant at least one year to him to repay the loan amount.

(2.) In the course of argument, the learned counsel for the petitioner argued that the respondents- Bank had, on his request, offered him to settle the loan account by One Time Settlement by paying a sum of Rs.15,18,067.48 as against the due amount of Rs.20,24,089.97, as on 31/3/2020, on the condition that the application for One Time Settlement shall be processed only on deposit of minimum 5% of the OTS Amount. Another 10% of the OTS Amount was to be deposited as first installment within thirty days.

(3.) The learned counsel for the petitioner submitted that the petitioner was facing immense financial difficulty at that time and, therefore, he could not avail all the opportunities given to him by the respondents- Bank. He subsequently submitted a representation to the respondents- Bank on 30/3/2021 (Annexure A- 5), for settlement of loan under One Time Settlement Scheme, but, the same was rejected vide communication, dtd. 2/4/2021 (Annexure A- 6). The petitioner again sent a representation to the respondents- Bank on 23/11/2021 (Annexure A- 9), praying for One Time Settlement of his loan account as per the offer earlier given on 19/10/2020, but the respondents- Bank has again rejected the representation of the petitioner vide communication, dtd. 29/11/2021.