IN THE HIGH COURT OF JUDICATURE, ANDHRA PRADESH AT HYDERABAD (Special Original Jurisdiction) WEDNESDAY, THE EIGHTEENTH DAY OF NOVEMBER TWO THOUSAND AND NINE PRESENT THE HON'BLE MR JUSTICE A.GOPAL REDDY and THE HON'BLE MR JUSTICE SAMUDRALA GOVINDARAJULU WRIT PETITION No.25004 of 2009 DATE:18-11-2009 BETWEEN: Thummala Krishna Rao & Another. …Petitioners AND The Debts Recovery Tribunal, Visakhapatnam, rep. by its Presiding Officer & 2 others. …Respondents THIS COURT MADE THE FOLLOWING: HON’BLE SRI JUSTICE A. GOPAL REDDY AND HON’BLE SRI JUSTICE SAMUDRALA GOVINDARAJULU WRIT PETITION No.25004 of 2009 ORDER: Questioning the notice issued under Section 13(4) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 and Rule 8(2) of the Security Interest (Enforcement) Rules, 2002, petitioners-borrowers filed S.A.No.136 of 2009 on the file of the Debts Recovery Tribunal, Visakhapatnam in which they filed I.A.No.515 of 2009 for grant of stay of all further proceedings pursuant to the sale notice, dated 4.4.2008 issued by the 2nd respondent-Bank. The Tribunal by an elaborate order, dated 22.10.2009 after considering the fact that the petitioners have been making efforts in payment of the amounts in all the three accounts, and that they stated that they would discharge the loans in all the three accounts, granted stay on condition of petitioners depositing Rs.5.00 lakhs within one month from the date of the orders. Questioning the said conditional order, the present writ petition is filed. As seen from the impugned order, the Tribunal has taken into consideration all the contentions advanced by the counsel for the petitioners and taking into account the representation made by the petitioners that they are eager to discharge the loan amount, in exercise of its discretion, the Tribunal granted stay on condition of petitioners depositing Rs.5.00 lakhs within one month. The discretion so exercised by the Tribunal does not suffer from any manifest illegality to be corrected by this Court in exercise of certiorari jurisdiction. Accordingly, the writ petition is dismissed, however, considering the request of the petitioners, the time granted by the Tribunal for deposit of Rs.5.00 lakhs is hereby extended till 15th December, 2009. No order as to costs. _________________ (A. GOPAL REDDY, J.) ____________________ (SAMUDRALA GOVINDARAJULU, J.) NOVEMBER 18, 2009 Tsr.