M/S Rinu Footwear And ANR. v. Indian Overseas Bank And ORS.

01.12.2025 sdas WPA 9067 of 2025 M/s. Rinu Footwear & Anr.

Vs.

Indian Overseas Bank & Anr.

Mr. Purnasish Gupta Mr. Jayanta Kumar Mukhopadhyay ....... for the petitioners Mr. Rahul Sarkar Ms. Dipika Sarkar Ms. Casurina Chatterjee ........ for the respondents

1. Let affidavit-of-service, as filed in Court, be kept on record.

2. The petitioners are desirous of settling the loan account with the respondent Bank and propose a one time settlement, better than the one, proposed in January, 2025, of Rs.9,00,000/-.

3. Mr. Gupta, learned Advocate appearing for the petitioners, submits that they are willing to offer a better proposal to the concerned Bank for settlement, with a substantial upfront payment towards the liquidation of the loan.

4. Mr. Gupta further submits that his clients are willing to make such proposal to the Bank within December 15, 2025.

5. Bank is directed to consider such proposal in terms of the rules, regulations and by-laws and

dispose of the same within a period of two weeks thereafter.

6. With the aforestated direction, the writ petition is disposed of.

7. There shall, however, be no order as to costs.

8. Since no affidavit has been called for, the allegations contained in the writ petition are deemed to be denied.

9.Urgent photostat certified copy of this order, if applied for, be supplied to the parties on usual undertaking.

(Reetobroto Kumar Mitra, J.)