the loan account were duly credited to the loan account. As on May 2015, a sum of Rs.11,05,394/- was payable towards the loan. The petitioners remained silent for about four years without taking any steps to close the loan account. However, during May 2019, they have submitted the representation dated 20.05.2019 for one time settlement of the loan account. It is further submitted that the wife of the borrower/daughter in law of the petitioners, holds 2/3 share in the mortgaged property and the Bank also had discussion with her. The Bank has also taken a sympathetical view and inclined to waive the compound interest and penal interest in view of the sudden death of the borrower from Rs.16,50,077/- to Rs.15,00,000/-. On 01.11.2019, the Bank had discussion with the petitioners and their daughter in law, but they have offered to pay only a sum of Rs.5,00,000/-. In such circumstances, the one time settlement offered by the petitioners is not feasible of consideration of the bank, according to the learned counsel for the second respondent.
