Court No. - 37 Case :- WRIT - C No. - 14870 of 2010 Petitioner :- M/S. Smart Traders & Anr. Respondent :- Canara Bank Civil Lines Allahabad Petitioner Counsel :- Om Prakash Sharma Respondent Counsel :- T.S. Rai Hon'ble Rajes Kumar,J.
Hon’ble Bharati Sapru,J.
Supplementary affidavit filed today is taken on record. It
appears that the petitioner has borrowed a loan from the
respondent Canara Bank, Allahabad and when he was not
able to pay the said loan, recovery proceedings under the
SARFEASI Act have been initiated.
Aggrieved, the petitioner filed an appeal being appeal no. 70
of 2008 before the Debt Recovery Tribunal, Allahabad. The
said appeal has been rejected by the order dated 13.7.2009.
However it is observed that if any proposal for the
compromise with the respondent bank is made by the
petitioner, the same shall be considered within the
parameters. Learned counsel for the petitioner submitted
that the petitioner applied for the One Time Settlement
(OTS) and his application is not being considered.
Sri Siddarth learned counsel for the respodent bank states
that his instruction is that no such application has been
moved by the petitioner.
Taking into consideration the entire facts and circumstances
of the case, we decline to interfere in the matter.
The writ petition fails and is hereby dismissed. No costs.
Order Date :- 10.5.2010
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