1. Sh. Nirzar S Desai, learned advocate for the petitioner states at bar that petitioner is entitled and eligible to invoke one time settlement scheme benefits and he has been invited by the liquidator of the bank on 11.12.2012. However, as the amount of initial deposit was mentioned to be 25%, though the scheme, which prescribes 15%, the proper reply and compliance could not be made. The petitioner is a bonafide citizen interested in making repayment of the dues of the bank, hence, under the instructions of the petitioner, Mr. Desai states as under :
One lac is deposited on 24.12.2012 ;
The remaining amount of 2,90,000/- would be paid and deposited on or before 02.01.2013, that will make the amount of 15% as envisaged in the OTS scheme.
2. Shri Desai s submission is recorded. Petitioner may file undertaking before this court by 28.12.2012 and after the undertaking is filed, let there be notice returnable on 10.01.2013. Status quo qua property be maintained till then. It will be open to bank to take out coercive steps against the petitioner in case, there is failure of depositing the amount as stated herein above by the time and date.
3. Direct service is permitted.
(S.R.BRAHMBHATT, J.) AS Page 2 of 2