TAJINDER KUMAR GUPTA Vs. PUNJAB NATIONAL BANK

JUDGEMENT

(1.) Heard learned counsel for the parties. Record perused.

(2.) The petitioner is a proprietor of M/s. Tassu Engineering. The said firm availed the Cash Credit Limit of ? 30.00 Lacs and ODIP Credit Facilities Limit of ? 50.00 Lacs and mortgaged certain properties as a security. The Whether reporters of the local papers may be allowed to see the judgment? petitioner having failed to repay the due amount on time, his account has been classified as 'NPA' and measures under . Section 13 of the Securitization and Reconstruction of Financial Assistance and Enforcement of Security Interest Act, 2002 have been taken.

(3.) The respondent­Bank made an effort to auction one of the mortgaged property but it appears that the Bank could not succeed in selling the same. r Meanwhile, the petitioner has come forward with One Time Settlement proposal as he wants to settle the loan account of the firm. It appears to us that a decision in this regard has to be taken by the bank keeping in view its policy or best practices and/or the RBI Guidelines issued from time to time.