The petitioners have approached this Court with the following prayers:
“i) to issue a writ of certiorari or any other appropriate writ, order or direction to the respondents 1 to 5 to call forth all records leading to Ext.P3 and quash the same
ii) to declare that the respondents are not entitled to proceed against the petitioners under the RR Act till the disposal of Ext.P1 suit;
iii) to issue a writ of mandamus or any other appropriate writ order or direction to the respondents 1 to 5 directing them not to proceed against the petitioners any further on Ext.P3 notices, till the disposal of Ext.P1 suit and Ext.P4 representation.
iv) to issue a writ of mandamus or any other appropriate writ order or direction to the 3rd respondent to accept Ext.P4 and consider the same after affording an opportunity of hearing to the petitioners, within a time limit prescribed by this Hon'ble Court.
v) to grant such other reliefs which this Hon'ble Court deem just and proper in the facts and circumstances of the case.”
W.P.(C)No.29400 OF 2014 2
2. When the matter is taken up for consideration, the learned Counsel for the petitioners submits that the petitioners do not intend to challenge the disputed liability and that they are ready to clear the entire liability towards the Bank. It is also stated that appropriate arrangements are being made to liquidate the liability and that the same will be cleared forthwith at any rate on or before 31.03.2015.
3. The learned Sr. Counsel appearing for the respondent Bank submits that if the petitioners' submission is genuine, the Bank is ready to accommodate the petitioners to the said extent
4. In the above circumstance, the writ petition is disposed of with liberty to the petitioners to clear the entire liability payable to the Bank, which shall be done at the earliest, at any rate on or before 31.03.2015. Further recovery steps shall be pursued only if there is failure on the part of the petitioners in giving effect to the undertaking given before this Court.
5. The petitioners are also free to make application for claiming the benefit of 'OTS', if any and on such an event, the W.P.(C)No.29400 OF 2014 3 same shall be considered and appropriate reliefs shall be extended to the petitioners to liquidate the liability or extending such other concession available to the appropriate extent to be decided by the Bank, if the entire liability is cleared by availing OTS.
P.R.RAMACHANDRA MENON JUDGE lk