ORDER 1. The petitioner has availed the credit facility (vehicle loan) for purchasing a taxi under tourist permit. 2. Mr. Singhal, learned counsel for the petitioner submits that on account of spread of pandemic COVID-19, tourist business has been seriously impacted due to which petitioner’s income has come down and, therefore, he failed to perform the obligation towards the repayment of the above vehicle loan. 3. Learned counsel for the petitioner submits that the petitioner is desirous to square up the loan account and if the respondentBank seizes his vehicle, which is the sole source of his livelihood, it will affect his family and his life. 4. This Court is not oblivious of its limitation of interference in the matters relating to action taken under the provisions of Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as the ’SARFAESI Act’) in light of catena of judgments of Hon’ble the Supreme Court, however, considering that the petitioner has approached this Court with bonafide intention to settle the dues, this Court is inclined to exercise its equitable jurisdiction. 5. Learned counsel for the petitioner, on instructions, submits that out of the total dues of Rs.5,25,014/-, as mentioned in the order dated 13.12.2021, the petitioner would deposit the amount as following : (i) Sum of Rs.1 lac by 15.03.2022; (ii) Rs.2 lac by 30.05.2022; and (iii) remaining amount by 31.10.2022. 6. In view of the above undertaking, let notices be issued to the respondents, returnable within six weeks. 7. In case petitioner subscribes to the above said undertaking, the respondent - Bank shall stand restrained from taking possession of petitioners’ vehicle - Ford Figo Aspire 1.5 TDCI, Registration No.RJ27-TA-6863 : Chasis No.MAJZXXMTKZHJ61640 and in case possession has already been taken, it shall not be put to distress. 8. Needless to observe that in the event of petitioner’s failure to adhere to any of the abovementioned commitments, the respondents shall be free to proceed in accordance with law.