The petitioner borrowed certain amounts from the 1st respondent-branch and the 2nd respondent-Corporation. The petitioner was instructed to appear before the representative of the 2nd respondent-Corporation for One Time Settlement. The petitioner contends that he submitted an application for One Time Settlement and during the deliberations with the representative of the 2nd respondent-Corporation, it was agreed to settle the matter for Rs.4,25,000/- under One Time Settlement scheme. The petitioner contends that in pursuance of the said settlement, he paid Rs.5000/- on 29-12-2003 and Rs.20,000/- on 27-02-2004 against the direction to pay 15% of the down payment of the principal which comes to Rs.50,500/- to avail the benefit of the said scheme. The petitioner further contends that the proposal along with his application was forwarded to the 2nd respondent-Corporation for approval and it is pending with the 2nd respondent-Corporation since then. The petitioner, therefore, approached this Court seeking to declare the action of the 2nd respondent-Corporation in not communicating the order of One Time Settlement Scheme in pursuance of the settlement arrived at on 29-11-2003 with the 2nd respondent-Corporation as illegal, arbitrary and contrary to law and to direct the respondents to accept the balance amount of Rs.3,74,500/-.