Sujit Narayan Prasad,J. - (1.) The writ petition is under Article 226 of the Constitution of India, whereby and whereunder, the direction has been sought for upon the respondent in proceeding further with the auction of property as per the notice of auction as contained in ROSARB: Ranchi:18-19/52 dated 11.07.2019.
(2.) Mr. A.K. Das, learned counsel appearing for the petitioner has fairly submitted that the current credit facilities have been provided by the respondent bank but for one reason or the other, the account having come under the category of Non-Performing Assets (NPA) which resulted into initiation of the proceeding under the SARFAESI Act, 2002 which has reached to the stage of the auction of the property and after symbolic possession having been made by virtue of the provision as contained under the provision of Section 13(4) of the SARFAESI Act, 2002 but the bank in the meanwhile, has come out with the decision communicated to the petitioner dated 11.07.2019 offering the petitioner for settlement of the claim by way of one time settlement scheme floated by the respondent bank under the OTS policy (annexure-9).
(3.) The petitioner is ready for settlement and has also offered his willingness to settle the issue but as yet no decision has been taken and in the meanwhile, the respondent bank initiated the process for auction of the mortgage property, therefore, the present writ petition has been filed for passing appropriate direction upon the respondent bank, first to decide the proposal for OTS before proceeding of the auction process.;