IN THE HIGH COURT OF JUDICATURE AT PATNA CWJC No.8844 of 2009 VINAY PRAKASH Versus THE UNION BANK OF INDIA & ORS ----------- 2 3.8.2009 A cash credit limit up to Rs.4 lacs was sanctioned in favour of M/s Vinay Kiran Stores owned by the petitioner vide C.C.Account No.132 in the Union Bank of India at Doriganj, Chapra. The petitioner Kiran Stores was insured with the New India Assurance Company Ltd. Chapra. The petitioner submits that on 25.7.2005 the Kirana Stores of the petitioner caught fire and goods and articles worth Rs.3,50,000/- was destroyed. As the Assurance Company did not pay the claim, the petitioner filed a case bearing Consumer Case No.148 of 2008 before the District Consumer Disputes Redressal Forum, Chapra. The Consumer Court directed the Assurance Company to pay a sum of Rs.1,50,000/- along with 8% interest. On settlement of claim, the petitioner paid a sum of Rs.1,81,134/- to the Bank and his two fixed deposits amounting to Rs.84,000/- was also adjusted in his C.C. Account by the Bank. The petitioner also submits that he applied for one time settlement with the Bank in view of the guide lines provided by the Reserve Bank of India but still he has not heard anything from the Bank. However, the Bank vide its notice dated 30.6.2009 while holding the petitioner to be a N.P.A. made a demand of Rs.301395/- under section 13(2) of the SARFAESI Act. The petitioner submits 2 KHAN that the respondents ought to have allowed one time settlement in favour of the petitioner as he has paid substantial amount to the Bank. Having heard counsel for the parties, this writ petition is disposed of with an observation that the petitioner should file his reply to the notice dated 30.6.2009 within two weeks from today before the Union Bank of India, Patna. On receipt of reply, the respondent Bank would consider the aspect whether one time settlement can be arrived at between the parties or not. No coercive steps would be taken against the petitioner for four weeks. (S.P.Singh,J)