IN THE HIGH COURT FOR THE STATES OF PUNJAB AND HARYANA AT CHANDIGARH. C.W.P. No. 18170 of 2008. Date of Decision: 25th May, 2009. M/s Jaggi Brothers International & Ors. ....Petitioners through Ms. Jyoti Sareen, Advocate Versus Punjab & Sind Bank & Anr. .Respondents through Mr. I.P.Singh, Advocate. CORAM: HON'BLE MR. JUSTICE SURYA KANT. 1. Whether Reporters of local papers may be allowed to see the judgment? 2. To be referred to the Reporters or not? 3. Whether the judgment should be reported in the Digest? SURYA KANT, J. [ORAL) The petitioners seek a direction to the respondent Bank to consider their request for settlement under the 'One Time Settlement' Scheme. They have also sought quashing of the notice dated 22.9.2008 whereby the secured assets were being sold through auction. Vide order dated 21.10.2008, this Court stayed the auction, subject to the petitioners' depositing a sum of Rs. 10 lacs. Learned counsel for the respondent – Bank points out that though the petitioners have deposited a sum of Rs.10 lacs, however, they are still liable to pay over Rs. One Crore to the respondent Bank. He further submits that the petitioners' proposal for OTS has already been considered and rejected vide order dated 10.3.2009. Learned counsel for the petitioners, while disputing the liability as assessed by the Bank, contends that a revised offer for OTS has been made by the petitioners. Having heard learned counsel for the parties and keeping in view the nature of relief sought in this writ petition and the petitioners' stand that a revised offer has been made, this petition is disposed of with a direction to the respondent Bank to consider and dispose of the revised offer for OTS, if any, received by it, within a period of one month from today, subject to the petitioners' further depositing a sum of Rs. 5 lacs within three weeks from today. It is made clear that in case the petitioners fail to deposit the aforesaid amount of Rs. 5 lacs, their revised offer for OTS shall be deemed to have been rejected. If the offer of the petitioners does not find favour with the respondent Bank, they shall be at liberty to take all the pleas before the Debts Recovery Tribunal. Till then status-quo shall be maintained. Disposed of. Dasti. May 25, 2009. ( SURYA KANT ) dinesh JUDGE