IN THE HIGH COURT OF JUDICATURE AT PATNA CWJC No.4151 of 2010 M/S MAITRI TRADERS Versus UCO BANK & ORS with CWJC No.4378 of 2010 M/S ANJU TRADERS Versus UCO BANK & ORS ----------- For the Petitioners: Mr. Sanjay Singh,& Mr. Neeraj Singh Advocates For the Respondents: Mrs. Nilu Agrawal, Advocate ------------ 3 19.4.2010 Heard learned counsel for the petitioners and learned counsel for the respondent UCO Bank. The stand of the UCO Bank is that after the initial payment and considering the total outstanding against the petitioners the offer of instalment which has been made is a very meagre sum which does not inspire confidence that the loan amount can be diluted and rounded up within a reasonable time frame. In fact, the settlement had already been reached by intervention of the Lok Adalat and waiver of interest was granted to the petitioners but even then the petitioners are not coming forward within the time frame fixed to pay the loan amount. Learned counsel for the petitioners thereafter submits that in terms of section 9 of the SARFAESI Act the petitioners are willing to move the Bank for restructuring of the loan and other relief because they have intent to pay back the loan amount but the time is the essence and for that they want to long time in this regard, for repayment. Prima facie the action of the respondent Bank is - 2 - not in conflict with any law in this regard. This Court is not willing to pass any order in the matter so far as the desires of the petitioners are concerned. The petitioners may approach the Bank for restructuring of loan amount or deferred payment. The will have to be sorted out between the parties and the Court has no role to play. Both the writ applications stand disposed of as above. RPS (Ajay Kumar Tripathi,J.)