2025:UHC:8463 SL. No. Date Office Notes, reports, orders or proceedings or directions and Registrar’s order with Signatures COURT’S OR JUDGE’S ORDERS WPMS/2742/2025 Hon’ble Manoj Kumar Tiwari, J 1. Mr. Manoj Mohan, learned counsel for the petitioner. 2. Mr. Pallav Sharma, learned counsel appearing for the respondent-Finance Company. 3. In the year 2019, petitioner took a commercial loan from respondent- Finance Company. Since there was default in repayment of the loan, therefore, respondent has invoked power under SARFAESI Act for realisation of outstanding dues. 4. In this writ petition, petitioner has challenged a possession notice dated 23.06.2025 issued under Section 13(4) of SARFAESI Act. The amount outstanding against the petitioner, as on 23.06.2025, is indicated as ₹9,87,161/- in the said possession notice. 5. Learned counsel for the petitioner submits that petitioner is ready and willing to repay the loan, however, owing to family circumstances, there was some default in repayment of loan. He submits that if petitioner is given an opportunity to submit proposal for one time settlement, he intends to enter into a settlement with the Bank. 6. Mr. Pallav Sharma, learned counsel appearing for respondent submits that if petitioner submit a proposal for one time settlement with the Competent Authority 2025:UHC:8463 in the Finance Company, then his request shall be considered favourably. 7. The writ petition is, accordingly, disposed of by permitting the petitioner to submit a proposal for one time settlement to the Competent Authority in the Finance Company. Petitioner will deposit upfront amount of ₹50,000/- with the Finance Company along with OTS proposal to show his bona fide. If petitioner submits such proposal, along with aforesaid amount, within ten days from today, the Competent Authority in the Finance Company, shall take decision thereupon within three weeks thereafter. For a period of four weeks or till decision is taken on petitioner’s proposal, whichever is earlier, no coercive action shall be taken against the petitioner. 8. In case of any default by the petitioner, he shall not be entitled to protection of this order and Finance Company will be free to proceed against him, in accordance with law. (Manoj Kumar Tiwari, J) 22.09.2025 Aswal NITI RAJ SINGH ASWAL Digitally signed by NITI RAJ SINGH ASWAL DN: c=IN, o=HIGH COURT OF UTTARAKHAND, ou=HIGH COURT OF UTTARAKHAND, 2.5.4.20=eacc6757ee7881e933ff8934f07477005aa85f9802a3a08b08d1369512 ea30f3, postalCode=263001, st=UTTARAKHAND, serialNumber=44EB54CBF00B7698CB6F10C2CE3D26F5C22DACF4F4610C1FE5 8A58531726FBB0, cn=NITI RAJ SINGH ASWAL Date: 2025.09.22 07:33:44 -07'00' 2025:UHC:8463