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HIGH COURT OF DELHI
W.P.(C) 834/2017 & CMs No.3805 & 3806/2017
NORTH EAST REGION FINSERVICE LIMITED ..... Petitioner
Through: Mr. Gaurav Mitra, Mr. Rudra Nath Sinha, Ms. Rashmita Roy Choudhury, Mr. Lokesh Chopra, Advocates.
Through: Ms. Ekta Sikri, Ms. Adwaita Sharma, Advocates along with Mr. Ashok K. Sharma, AGM/AR of the respondent/Bank
JUDGMENT
1. The present petition has been filed by the petitioner praying inter alia for issuance of a writ of mandamus to the respondent for granting it further time to sell the property proposed to be auctioned by them in terms of the order dated 21.5.2016 passed by the Lok Adalat wherein the parties had arrived at a settlement.
2. Ms. Sikri, learned counsel who appears on an advance notice states on instructions that the settlement had fallen through on account of failure on the part of the petitioner to abide by the undertakings recorded in the settlement and the said decision was duly communicated by the respondent. Only thereafter was it decided to auction the subject property. She however 2017:DHC:533 W.P.(C) 834/2017 states that though the auction has been fixed for tomorrow, at a reserve price of Rs.1,72,00,000/, till today, nobody has shown any interest in participating in the auction.
3. Learned counsel for the petitioner states that the petitioner may be permitted to approach the respondent/Bank with a fresh proposal for a One Time Settlement.
4. Leave, as prayed for is granted. The petitioner is permitted to approach the respondent/Bank with a fresh proposal for a One Time Settlement. If the respondent receives such a proposal, it shall consider the same in accordance with law and convey a decision to the petitioner within four weeks from the date of receipt.
5. The petition is disposed of, along with the pending applications. HIMA KOHLI, J JANUARY 30, 2017 ap