IN THE HIGH COURT OF UTTARAKHAND AT NAINITAL WRIT PETITION (M/S) NO. 2241 OF 2010 M/s Hans Seeds Pvt. Ltd. ………….Petitioner. Versus Central Bank of India …….Respondent. Present: Sri Atul Bansal, Advocate for the petitioner. Sri P.C. Maulekhi, Advocate for the respondent. AND WRIT PETITION (M/S) NO. 232 OF 2010 M/s Hans Seeds Pvt. Ltd. ………….Petitioner. Versus Central Bank of India …….Respondent. Present: Sri Atul Bansal, Advocate for the petitioner. Sri P.C. Maulekhi, Advocate for the respondent. Hon’ble Sudhanshu Dhulia, J. (Oral) Heard Sri Atul Bansal, Advocate for the petitioner as well as Sri P.C. Maulekhi, Advocate for the respondent. The petitioner M/s Hans Seeds Pvt. Ltd. had taken a loan from the Central Bank of India, Branch Ramnagar Road, Kashipur, District Udham Singh Nagar. Since the loan was not repaid by the petitioner, recovery proceedings were initiated against the petitioner by the bank. Meanwhile the Reserve Bank of India has come up with a scheme for “One Time Settlement” which was applicable to the bank. Since the benefit of said scheme was not given, the petitioner filed a writ petition being Writ Petition (M/S) No. 2241 of 2010 before this Court. The second writ petition being Writ Petition (M/S) No. 232 of 2011 was filed as the property mortgaged before the bank was being auctioned by the bank. Writ petition was filed praying for writ of mandamus directing 2 the respondent bank to keep the “notice for sale” dated 21.1.2011 in abeyance till one time settlement attains finality. Today when the matter was being heard, learned counsel representing the petitioner Sri Atul Bansal and learned counsel representing the Central Bank of India Sri P.C. Maulekhi have very fairly made a statement before the Court that during the pendency of the petition a compromise has already reached between the parties on 28.2.2011. Learned counsel for the petitioner states that in terms of the compromise dated 28.2.2011 reached between the petitioner and the respondent bank, certain amount has already been paid by the petitioner and the remaining amount will be paid within a period of three months. On the basis of this statement, counsel for the respondent bank has agreed that in case the petitioner deposits the remaining amount within a period of three months from today, all the pending disputes between the parties shall come to an end. On the basis of the aforesaid statement made by both the counsels, both the writ petitions are disposed of with the direction that the petitioner shall pay the remaining amount of loan in terms of compromise dated 28.2.2011 reached between the petitioner and the respondent bank, within a period of three months from today. Writ petition is disposed of as above. No order as to costs. (Sudhanshu Dhulia, J.) 24.5.2011 Avneet