BIJNOR URBAN COOPERATIVE BANK LIMITED Vs. MEENAL AGARWAL

JUDGEMENT

(1.) Feeling aggrieved and dissatisfied with the impugned judgment and order dated 16.08.2021passed by the High Court of Judicature at Allahabad in Writ Petition No. 15194 of 2021, by which the High Court has allowed the said writ petition preferred by respondent No.1 herein (original writ petitioner) and has, in exercise of powers under Article 226 of the Constitution of India, issued a writ of mandamus directing the appellant - Bank to positively consider the original writ petitioner's application for One Time Settlement (OTS), the Bank has preferred the present appeal.

(2.) The facts leading to the present appeal in a nutshell are as under: That the original writ petitioner had obtained credit facility from the bank of about Rs. 1 crore. The said loan account with the Bank was categorised as "Non-Performing Asset, (NPA)". The Bank also initiated proceedings under the provisions of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as the 'SARFAESI Act'). That there were two other loan accounts also which were being regularly serviced by respondent no.1 - original writ petitioner, meaning thereby that the payment was regularised insofar as two other loan accounts are concerned. However, so far as the present loan account is concerned, which was declared as NPA, not a single amount was paid till an application for extending the benefit of OTS was submitted.

(3.) Ms. Meenakshi Arora, learned Senior Advocate has appeared on behalf of the appellant herein - Bank and Shri V.K. Shukla, learned Senior Advocate has appeared on behalf of respondent no.1 herein.