(Per : HONOURABLE THE ACTING CHIEF JUSTICE MR.BHASKAR BHATTACHARYA) After hearing the learned counsel for the parties and after going through the materials on record, we find that in the past a Division Bench of this Court disposed of the main appeal by allowing the present applicant to move before the respondent-bank with further direction upon the bank to consider the case of the applicant sympathetically and to make one time settlement, if possible. It was further stipulated that in case the settlement fails it will be open to the applicant to move before the Debts Recovery Tribunal.
The appellant, who is the applicant before us, submitted before us that it is ready to pay the amount as will be disclosed by the bank by selling the property and his only submission is that he may be permitted to find out the buyer instead of giving the responsibility in the hands of the bank. The learned counsel appearing on behalf of the bank submits that if the total amount due and payable with interest as on date is paid by the appellant his client has no objection if buyer is procured by the appellant.
Such being the position, we direct the bank to disclose the total amount due and payable by the applicant as on June 9, 2012. The applicant must find out the buyer by himself and will pay that amount by June 9, 2012 without prejudice to his right to challenge the said valuation before appropriate forum in accordance with law, if such remedy is available. We make it clear that if the amount disclosed by the bank is not paid within June 9, 2012, the bank will be free to sell the property in accordance with the provisions of the SARFAESI Act. The bank will disclose the amount to the petitioner within 48 hours from today, as suggested. The appellant is directed to go to the Branch Office of the bank tomorrow for the purpose of collecting the actual figure as on June 9, 2012.
The application is thus disposed of.
We make it clear that we have otherwise not gone into the question as to the exact amount payable by the appellant.
(BHASKAR BHATTACHARYA, ACTING CJ.) (J.B.
PARDIWALA, J.) zgs/-
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