THE HON’BLE SRI JUSTICE GHULAM MOHAMMED AND THE HON’BLE SRI JUSTICE G. CHANDRAIAH W P No.11730 of 2010 Gali Prabhavathi v. GIC Housing Finance Limited, And another THE HON’BLE SRI JUSTICE GHULAM MOHAMMED AND THE HON’BLE SRI JUSTICE G. CHANDRAIAH W P No.11730 of 2010 Oral Order: (Per Sri GM, J) This writ petition has been filed challenging the proceedings dated 27-4-2010 issued by the 1st respondent-GIC Housing Finance Limited. The petitioner availed house loan from the respondent-bank to a tune of Rs.3,20,000/- for purchasing the residential flat at Malkajgiri, and that the loan is repayable in 180 equated monthly installments in a period of 15 years. As the loan amount was not properly paid, the 1st respondent issued notice 15-2-2010 under section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 ( for short “the Act”), demanding him to pay an amount of Rs.5,56,185/- as on 28-2-2010, to which the petitioner replied stating that his account has not been classified as Non Performing Asset, the proceedings under the Act cannot be initiated. The main grievance of the petitioner is that the 1st respondent without specifying any valid reason for non acceptance of the petitioner’s objections and without giving any reasons for the objections issued the impugned proceedings dated 27-4-2010 and the same are unsustainable. It is seen from the impugned proceedings dated 27- 4-2010 that after dismissal of the writ petition No.20243 of 2006, filed by the petitioner on earlier occasion. the petitioner has not updated the loan amount and became irregular in payment of loan and that as on the date of the issuance of the demand notice 39 installments are due and as such the petitioner account became NPA as per the prevalent norms. Apart from that, this Court while admitting the writ petition by its order dated 7-7-2010 granted interim stay of all further proceedings on conditions of the petitioner depositing a sum of Rs.2,00,000/- within four weeks from that day and the said interim order has not been complied with. Since no measures have been taken under section 13(4) of the Act, the petitioner has to work out his remedies as per law, as and when situation so warrants. In the circumstances, we see no reason to entertain the Writ Petition. The Writ Petition is dismissed as mis- conceived with liberty to the petitioner to approach the appropriate forum as per law. No costs. ______ GM, J ______ GC, J 23-8--2010-KK THE HON’BLE SRI JUSTICE GHULAM MOHAMMED AND THE HON’BLE SRI JUSTICE G. CHANDRAIAH W P No.11730 of 2010 23-8-2010