Rekha v. The Authorized Officer

O R D E R [Order of the Court was made by M.S.Ramesh, J.] Through an One Time Settlement offer, the respondent-Bank had permitted the petitioners to settle the loan amount at a sum of Rs.74.85 Lakhs out of which a sum of Rs.10,00,000/- (Rupees Ten Lakhs only) was already paid. The time offered by the respondent-Bank for such payment was only three days.

¶2While the learned counsel for the petitioners submitted that the petitioners are willing to repay the loan as per the One Time Settlement, but requires further time, the learned Standing Counsel for the respondent-Bank would submit that in view of the end of the accounting year, the respondent-Bank were constrained to give only three days time.

¶3In this background, the petitioners are granted liberty to give a representation for an One Time Settlement of the loan amount within a period of two weeks from the date of receipt of a copy of this order. On receipt of such representation, the respondent-Bank shall give a revised One Time Settlement proposal within a period of one week therefrom. Till such time, no coercive steps shall be taken for recovery of the loan amount.

¶4With the above direction, this Writ Petition is disposed of. No costs. Consequently, connected miscellaneous petition is closed.

[M.S.R., J.] [P.T.A., J.]

24.05.2023 NCC : Yes/No Index : Yes/No Internet : Yes abr M.S.RAMESH

, J.

and

P.T.ASHA, J. abr To

1.The Authorized Officer, South Indian Bank, 1st Floor, Y.M.C.A. Building, Ellis Nagar, Madurai-625 106.

2.The Manager, South Indian Bank, Mutharasanallur Branch, Trichy.

24.05.2023

BEFORE THE MADURAI BENCH OF MADRAS HIGH COURT DATED : 24.05.2023 CORAM: THE HONOURABLE MR.JUSTICE M.S.RAMESH and THE HONOURABLE MS.JUSTICE P.T.ASHA and W.M.P.(MD) No.10567 of 2023 1.Rekha 2.K.Venkatesan ... Petitioners -vs- 1.The Authorized Officer, South Indian Bank, 1st Floor, Y.M.C.A. Building, Ellis Nagar, Madurai-625 106. 2.The Manager, South Indian Bank, Mutharasanallur Branch, Trichy. ... Respondents Prayer: Petition filed under Article 226 of the Constitution of India, to issue a Writ of Certiorarified Mandamus calling for the records relating to the proceedings in Ref.RO/MDU/SAR/09/2023-24 dated 24.04.2023 on the file of the first respondent herein and quash the same consequently directing the respondents to permit the petitioner to pay the amount in installments. For Petitioners : Mr.V.Illanchezian For Respondents : Mr.R.Pandivel Standing Counsel