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Judgment
This matter is taken up through hybrid mode.
Heard Mr. S. Mishra, learned counsel appearing for the petitioners and Mr. S.K. Mishra appearing on behalf of Mr. Tuna Sahu, learned Standing Counsel for the opposite party-Bank.
In compliance of the order dated 01.03.2023 passed by this Court in earlier W.P.(C) No.1675 of 2023, the petitioners have already deposited Rs.15,00,000/- with the Bank. In response to the same, the Bank, vide letter dated 17.03.2023, communicated the petitioners stating that they have deposited Rs.15,00,000/- with the Bank on 06.03.2023 and the said amount has not been adjusted towards settlement of loan accounts and as per recovery policy of the Bank, as on date the settlement amount comes around Rs.38,00,000/- taking into account the outstanding of their 5 NPA accounts. Therefore, the Bank requested the petitioners to deposit the above mentioned amount along with an application of OTS towards full and final settlement of the account.
Mr. S. Mishra, learned counsel appearing for the petitioners contended that the Bank has not given any proposal with regard to settlement of their loan accounts through OTS, rather the Bank has pointed out the total amount due to the petitioners.
Mr. S.K. Mishra appearing on behalf of Mr. Tuna Sahu, learned Standing Counsel for the opposite party-Bank contended that in compliance of the order dated 01.03.2023 passed by this Court in earlier W.P.(C) No.1675 of 2023, the petitioners have already deposited Rs.15,00,000/- with the Bank against the total outstanding dues and, as such, no proposal of OTS for settlement of the loan accounts from the side of the petitioners has not been submitted before the Bank. In any case, the petitioners have been communicated vide letter dated 17.03.2023, that total outstanding amount is Rs.38,00,000/- and if Rs.15,00,000/- is adjusted towards the loan account, still there is outstanding of Rs.23,00,000/- which can be considered through OTS subject to filing of an application for OTS.
Considering the contentions raised by learned counsel for the parties and after going through the records, this Court finds that since the petitioners have already deposited Rs.15,00,000/-with the Bank in compliance of the order dated 01.03.2023 passed by this Court in earlier W.P.(C) No.1675 of 2023, the said amount may be adjusted against the total outstanding, as per the letter dated 17.03.2023 under Annexure-17. Accordingly, the petitioners are permitted to move for settlement of the loan account through OTS proposal against the total outstanding amount after adjustment of Rs.15,00,000/-. In such event, the Bank shall consider the same and pass appropriate order by extending the benefit to the petitioners in accordance with law.
With the above observation and direction, the writ petition stands disposed of.
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