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Judgment
Manoj Kumar Tiwari, J
Petitioner is a borrower, against whom recovery proceedings have been initiated by the lending bank.
In this writ petition, petitioner has challenged the recovery citation issued by Tehsildar, Haridwar.
Learned counsel for the petitioner submits that petitioner is ready & willing to liquidate the loan. He, therefore, submits that petitioner has submitted
a proposal for One Time Settlement on 04.01.2022 and the Competent Authority in the respondent-Bank may be directed to take decision thereupon at
the earliest.
Learned counsel for the respondent-Bank admits that petitioner has made an offer for One Time Settlement, which shall be considered as per
R.B.I. Guidelines.
Accordingly, the writ petition is disposed of with direction to Competent Authority in Indian Overseas Bank to consider offer for One Time
Settlement submitted by the petitioner and take appropriate decision, in accordance with law, as early as possible; but, not later than four weeks’
from the date of production of certified copy of this order alongwith copy of proposal.