ORDER : 1. The petitioner-M/S Jai Durge Automobile, through the medium of the present petition, seeks quashment of a Communication No. NT/MU/24-25/136-40 dated 09.12.2024 addressed by the respondent No. 3-Naib Tehsildar, Executive Magistrate Muthi Jammu, whereby the respondent No. 1-Jammu and Kashmir Bank Ltd has been directed to take into possession the residential house constructed over land measuring 9 marlas falling under khasra No. 712/413 min situated at Lane No. 7, Netar Kothey, Lower Barnai, Jammu, in terms of Section 14 of the SARFAESI Act, 2002 and a further direction to the respondents to consider the case of the petitioner under OTS Scheme and grant a considerable time to clear the dues. 2. Mr. Chauhan, learned counsel for the petitioner, submits that the petitioner had raised loan from the respondent- Jammu and Kashmir Bank Ltd, however, due to certain personal difficulties, the loan could not be repaid and the petitioner intends to liquidate the amount provided he is given some time to liquidate the same by way of installments keeping in view the financial difficulties faced by the petitioner. 3. He has further argued that the respondents have taken an action whereby the residential house which had been mortgaged for raising the loan is being sealed and divesting the proprietor of the petitioner-firm shall create great deal of difficulties to his family and prayed that as an interim measure, the impugned communication be stayed till the matter is finally disposed of. 4. Mr. Akash Gupta, learned counsel appearing for the respondent-Jammu and Kashmir Bank Ltd and Mrs. Monika Kohli, learned Sr. AAG for respondent No. 3- Naib Tehsildar, Executive Magistrate, who are incidentally present in the Court, have taken strong exception to the maintainability of the petition filed by the petitioner stating that the petitioner has not challenged the basic orders passed under the SARFAESI Act and in absence of such a challenge, the petitioner cannot challenge the impugned Communication addressed by the respondent No. 3-Naib Tehsildar, Executive Magistrate whereby only a date was fixed for sealing of the mortgaged property and the respondent- Jammu and Kashmir Bank had been asked to depute field staff for identification of the property. 5. 5. Learned counsel appearing for the respondents have strongly resisted the present petition on the ground that this petition cannot be maintained in absence of any challenge to the statutory actions already taken by the respondent-Jammu and Kashmir Bank Ltd in terms of SARFAESI Act, 2002. 6. Learned counsel for the petitioner, at this stage, submits that this petition be disposed of with a liberty to the petitioner to avail the appropriate remedy if need arises and in the meantime, the respondents be directed to consider the case of the petitioner for settlement of its loan case in terms of OTS Scheme available with the respondent-Bank considering the financial difficulties of the petitioner as the petitioner intends to deposit the amount. 7. Learned counsel appearing for the respondent-Jammu and Kashmir Bank Ltd, has fairly submitted that the respondent-Bank shall have no hesitation in considering the case of the petitioner for some settlement under OTS Scheme in case the petitioner approaches the Bank with its justifiable credentials in this respect. 8. In view of the pleadings and having regard to the submissions made at the Bar by the respective counsel for both the sides, this petition is disposed of at this stage with a direction to the respondent-Jammu and Kashmir Bank Ltd to consider the case of the petitioner for settlement under OTS Scheme as the petitioner intends to deposit the amount as has been stated by its counsel. The petitioner shall submit the proposal for OTS, within a period of two weeks from the date of this order, with the respondent-Bank, who shall consider the same within two weeks thereafter. It is also provided that the mortgaged property shall not be subjected to auction without considering the plea of the petitioner for settlement under OTS Scheme. Needless to mention that the petitioner shall also be at liberty to avail the legal remedy in case the need arises. 9. The writ petition along with connected application stands disposed of accordingly at the motion stage.