CWP.No.17356 of 2011 #1# IN THE HIGH COURT FOR THE STATES OF PUNJAB AND HARYANA AT CHANDIGARH CWP.No.17356 of 2011 Date of Order: 15.9.2011 Sushil Kumar and another .....Petitioners Vs. State Bank of India and others .....Respondents CORAM: HON'BLE MR. JUSTICE HEMANT GUPTA HON'BLE MR. JUSTICE JASWANT SINGH Present: Mr. Aalok Jagga, Advocate for the petitioners. HEMANT GUPTA, J (ORAL) Petitioners, who are alleged to be the guarantors by respondent No.1-Bank in respect of loan availed by respondent Nos.3 & 4, have preferred the instant writ petition under Article 226 of the Constitution for issuance of a writ in the nature of mandamus directing respondent Nos.1 & 2 to consider the One Time Settlement proposal dated 28.5.2010 (P.5) submitted by them. Respondent-Bank had filed an original application for recovery of the amount under Section 19 of the Recovery of Debts Due to Banks & Financial Institutions Act, 1993. The Debt Recovery Tribunal-II, Chandigarh (for short “the Tribunal”) passed an order on 27.1.2011 holding the present petitioners liable to pay a sum of Rs.29,94,825.34 paise with costs, current and future interest @ 17.60% p.a with quarterly rests from the date of filing of the original application i.e 31.10.2000 till the date of realization. CWP.No.17356 of 2011 #2# It is pointed out by the petitioners that they had applied for One Time Settlement proposal in terms of the Scheme framed by the Reserve Bank of India and such proposal is not being considered by the Bank. It is admitted that the petitioners are already in appeal against the order passed by the Tribunal. Having heard learned counsel for the petitioners, we dispose of the present writ petition with a direction to the respondents-Bank to take a decision on the proposal of One Time Settlement submitted by the petitioners within two months. However, if the petitioner is aggrieved against the decision of the Bank on the proposal of One Time Settlement, it shall be open to the petitioners to make grievance before the Appellate Tribunal seized of the appeal filed by the petitioner. Writ petition stands disposed of accordingly. ( HEMANT GUPTA ) JUDGE September 15, 2011 ( JASWANT SINGH ) manoj JUDGE