2025:UHC:11096 SL. No. Dat e Office Not es, r epor t s, or der s or pr oceedin gs or dir ect ion s an d Regist r ar ’s or der w it h Sign at u r es COURT’S OR JUDGE’S ORDERS W PMS/ 3 4 4 7 / 2 0 2 5 Hon’ble Manoj Kumar Tiwari, J. Mr. Tajhar Qayyum, Advocate for the petitioners. Mr. Siddharth Jain, Advocate for the respondent/Bank. 2. Petitioners jointly took a term loan for construction of house in March, 2024 from ICICI Bank; since petitioners defaulted in repayment of loan, therefore the Bank has invoked its power under Sections 13 (2) and 13(4) of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. Thus feeling aggrieved, petitioners have approached this Court. 3. Learned counsel for the petitioners submits that due to some family problem, petitioners could not repay the loan in time. He submits that petitioners are ready and willing to liquidate the loan, if some reasonable time is given to them for the purpose. He thus submits that petitioners be permitted to submit a proposal for One Time Settlement (OTS). 4. Mr. Siddharth JaiN, learned counsel appearing for the Bank assures that if petitioners submit OTS proposal along with some upfront amount, the same shall be considered 2025:UHC:11096 favourably. 5. The writ petition is, accordingly disposed of with liberty to the petitioners to submit OTS proposal along with upfront deposit of Rs. 3.00 lakh. If such proposal is submitted within ten days from today, decision thereupon shall be taken within eight weeks thereafter. 6. For a period of ten weeks or till decision is taken on OTS proposal, whichever is earlier, no coercive action shall be taken against the petitioners. (Manoj Kumar Tiwari, J.) 12.12.2025 Mahinder/ MAHINDER SINGH Digitally signed by MAHINDER SINGH DN: c=IN, o=HIGH COURT OF UTTARAKHAND, ou=HIGH COURT OF UTTARAKHAND, 2.5.4.20=da6212e6e78d94ed3134842bc6a8d6ca168979ca7b8c2f031a92d1a18b08923c, postalCode=263001, st=UTTARAKHAND, serialNumber=AB77B7C5B240908B392BE84F5CDD4C2AF35DC4626D305B1BC9EA4BABA43D 2B8F, cn=MAHINDER SINGH Date: 2025.12.12 17:33:09 +05'30'