HON'BLE SRI JUSTICE GHULAM MOHAMMED AND HON'BLE SRI JUSTICE K.G. SHANKAR WRIT PETITION NO. 33843 OF 2010 Between: Smt K. Sudharani W/o Sri K. S.N.K. Prasad and one another ………….Petitioners AND M/s Citybank having its Head Office at Chennai ………….Respondent ORDER: (Per Hon'ble Sri Justice Ghulam Mohammed) This Writ Petition has been filed seeking to issue an order particularly one in the nature of Writ of Mandamus declaring the action of the respondent-Bank in initiating the recovery proceedings under Sections 13(2) and 13(4) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short “the SRFAESI Act”) as illegal and arbitrary. Brief facts of the case are that both the petitioners herein are wife and husband and they have taken home loan to a tune of Rs. 25 lakhs from the respondent-Bank and subsequently they committed default in payment. Hence, the bank issued possession notice under Section 13(4) of the SRFAESI Act. Aggrieved by the same, the present Writ Petition is filed. The main grievance of the petitioners is that earlier the bank given OTS facility to clear off their debt but due to ill-health of the second petitioner, they could not repay the amount and now they are prepared to clear off the entire amount due to the respondent-Bank if some time is given under OTS scheme. As the petitioners are willing to pay the entire amount due to the Bank if some time is given, the petitioners are directed to pay half of the amount due to the Bank within four weeks from today. On such payment, the respondent-Bank is directed to consider the case of the petitioners herein under OTS scheme enabling them to pay the balance amount within the time frame fixed by the respondent-Bank. Accordingly, the Writ Petition is disposed of. There shall be no order as to costs. ________________________ GHULAM MOHAMMED, J _____________________ K.G. SHANKAR, J DATE: 16.03.2011 KA ... REGISTRAR // TRUE COPY // SECTION OFFICER To 1. 2 CD copies.