ORDER 1. Learned counsel for the parties have been heard through video conferencing. 2. This writ petition is directed against notice dated 28.06.2018 (Annex.3) issued under Section 13 (2), notice dated 24.09.2018 (Annex.6) issued under Section 13 (4) of the SARFAESI Act 2002 issued by the respondent - bank. 3. Initially, on 26.11.2019 a Coordinate Bench of this Court, indicated its disinclination to grant any indulgence to the petitioners. However, subsequently on 12.12.2019 the Coordinate Bench, on account of the bank having agreed in principle to settle the account, required the petitioners to deposit a sum of Rs.1.5 Cr. within a period of two weeks and ordered that, in case, the petitioners deposit a sum of Rs.1.5 Cr. by 28.12.2019 the bank shall not finalize the bids which have not been finalized so far. 4. It appears that the petitioners did not comply with the direction dated 12.12.2019 in the stipulated time, however, the amount was tendered on 07.03.2020 with a one time settlement (OTS) proposal. The OTS proposal of the petitioners was accepted by respondent - bank and a sanction letter dated 23.03.2020 was issued by accepting Rs.14.50 Cr. in full and final settlement and required the petitioners to deposit the balance amount of Rs.13.05 Cr. within a period of three months on or before 30.06.2020. 5. It is indicated that due to outbreak of COVID-19 pandemic, the petitioners sought extension of the time period indicated in the OTS which request was accepted by the bank and time was extended till 30.09.2020 with simple interest @ 12% p.a. on the remaining OTS amount of Rs.13.05 Cr. from 01.07.2020. 6. Now, the petitioners have approached this Court again by way of application indicating that the financers, who are prepared to finance the petitioners are likely to make advance the sum by 30.10.2020 and, therefore, the time indicated in the OTS proposal be extended. 7. Submissions have been made that though the petitioners approached the respondent - bank, however, the bank has declined to extend the time indicated in the OTS i.e. 30.09.2020. 8. It is submitted by learned counsel for the petitioners that the amount of settlement is crystallized, the petitioners are in the process of raising the requisite finances for honoring the OTS, however, on account of the circumstances prevailing and the fact that the financers have indicated payment between 19.10.2020 to 30.10.2020, the time may be extended. 9. 8. It is submitted by learned counsel for the petitioners that the amount of settlement is crystallized, the petitioners are in the process of raising the requisite finances for honoring the OTS, however, on account of the circumstances prevailing and the fact that the financers have indicated payment between 19.10.2020 to 30.10.2020, the time may be extended. 9. Further submissions have been made that the petitioners are prepared to pay interest as already stipulated by the bank by extending the time till 30.09.2020. It is also submitted that in case, the petitioners fail to deposit the requisite amount by 31st October, 2020, the petition be ordered to be dismissed. 10. Learned counsel for the respondent - bank, on instructions opposed the submissions made. 11. It is, inter-alia, submitted that earlier also, the petitioners had approached this Court by filing S.B. Civil Writ Petition No.1198/2019, which writ petition was dismissed on account of alternative remedy and now again, the petitioners have approached this Court seeking similar relief, which makes the petition wholly non-maintainable and, therefore, the same in fact deserves to be dismissed on this count. 12. Submissions have also been made that the petitioners have been making submissions and giving assurances regarding making payment of the huge outstanding, however, they have failed to comply with the directions of this Court repeatedly and, therefore, on that count also, the petitioners are not entitled to any indulgence. It is prayed that the petition and the application be dismissed. 13. I have considered the submissions made by learned counsel for the parties and have perused the material available on record. 14. It is no doubt true that the petition filed by the petitioners was dismissed by this Court when the petitioners approached on earlier occasion, however, this is also a fact that a Coordinate Bench of this Court after showing disinclination on 26.11.2019 on account of change in circumstances, by order dated 12.12.2019 in presence of learned counsel for the respondent - bank, passed the interim order. Though the petitioners did not comply with the time limit as indicated in the interim order dated 12.12.2019, the bank did not proceed further and instead, accepted the OTS proposal made by the petitioners. Subsequently, on account of the pandemic the time was extended on the condition of payment of interest on the balance OTS amount. 15. Though the petitioners did not comply with the time limit as indicated in the interim order dated 12.12.2019, the bank did not proceed further and instead, accepted the OTS proposal made by the petitioners. Subsequently, on account of the pandemic the time was extended on the condition of payment of interest on the balance OTS amount. 15. In view of the subsequent events since filing of the petition whereby, interim order was granted by this Court and the bank has agreed to enter into a one time settlement, the plea sought to be raised pertaining to the maintainability of the petition, at this stage looses significance as now in the petition, the only prayer which remains, is by way of application seeking a month's extension for making payment in terms of the OTS. 16. From the circumstances indicated in the application, it is apparent that the petitioners are attempting to comply with the requirements of the OTS and are seeking another month's extension besides what has already been granted by the Bank till 30.09.2020. 17. Looking to the submissions made by learned counsel for the petitioners fixing 31.10.2020 as the date by which the petitioners would do the needful in terms of OTS, and failure thereof would lead to consequences, looking to the overall circumstances prevailing, the application / prayer made by the petitioners seeking extension of a month's time for making payment, in the peculiar circumstances of the present case appears to be justified. 18. In view thereof, the writ petition filed by the petitioners is disposed of. It would be required of the petitioners to make payment of the OTS obligation by 31.10.2020 alongwith interest @ 12% p.a. from 01.07.2020 on the balance OTS amount as provided in the extension granted by the bank vide its letter dated 26.06.2020. 19. In case, the petitioners fail to make the entire payment by 31.10.2020, the petition filed by the petitioners shall be deemed to have been dismissed by this Court and 01.11.2020 onwards the Bank would be free to proceed with the matter.