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Judgment
This matter is taken up by virtual/physical mode.
Learned counsel for the Bank states that after deposit a sum of ₹2 lakhs, the possession of the residential houses situated in plot Nos. 1258 stands restored back to the Petitioner. He submits that the auction sale conducted for both the mortgaged properties i.e. plot Nos. 1258 and 1257 on 15.09.2021 did not fetch any bid. He further submits that as on 25.10.2021, a sum of ₹10,55,849.00 is due apart from a sum of ₹2 lakhs already deposited. He further submits that the Bank is not averse for any settlement provided that 25% amount of outstanding liability is paid upfront with reasonable schedule of repayment of balance amount.
In response, learned counsel for the Petitioner prays for time to seek instructions and, if need to file an affidavit regarding a schedule of repayment, if any OTS is accepted.
List on 03.12.2021 for further consideration.
The Petitioner is free to approach the Bank to negotiate the aforesaid proposal.