Sanidhya Traders Seeks Rs 81 Lakh Settlement

Authority: High Court (Justice Manoj Kumar Tiwari)

Order Date: 06 Oct 2026

Case Overview

• Petitioner: M/s Sanidhya Traders, a business entity that obtained a loan from Union Bank of India.
• Respondents: Union Bank of India and others.
• The loan default led the bank to initiate recovery proceedings under the SARFAESI Act, 2002.
• Sanidhya Traders filed writ petition WPMS/2826/2026 seeking a direction for a one‑time settlement.
• The petitioner proposed to pay Rs 81 lakh as full and final settlement of all outstanding dues, submission dated 24‑07‑2026.
• The bank, through counsel, expressed no objection to the competent authority considering the proposal.

Final Outcome

• The Court disposed of the writ petition, directing the competent authority of Union Bank of India to decide on the settlement proposal in accordance with RBI guidelines.
• The decision must be communicated within three weeks from the date of presentation of a certified copy of this order.

Topics: Banking Settlement, SARFAESI Recovery