THE HON'BLE SRI JUSTICE N.V. RAMANA & THE HON'BLE SRI JUSTICE P. DURGA PRASAD WRIT PETITION NO :32297 of 2010 Dated: 28.9.2011 Between: Mohd. Muneer Ahmed ..Petitioner And 1. M/s. Vijay Bank, Charminar Branch, rep., by its Authorized Officer, Hyderabad and others. ..Respondents This Court made the following: THE HON'BLE SRI JUSTICE N.V. RAMANA & THE HON'BLE SRI JUSTICE P. DURGA PRASAD WRIT PETITION NO :32297 of 2010 ORDER: (Per Hon’ble Sri Justice N.V. Ramana) This writ petition is filed seeking to declare the action of the 1st respondent in taking possession of the house property bearing H.No.7-2-640, 641 & 7-2-641/1 admeasuring 104 sq. yards or 86.94 sq. meters situated at Rashtrapathi Road, Secunderabad, in collusion with respondents 2 and 3, without following the provisions of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 as illegal and arbitrary and consequently, to direct the 1st respondent to withdraw the possession of the house property. It is the case of the petitioner that the 2nd respondent is a firm and the 3rd respondent is its proprietor and they availed loan from the 1st respondent-Bank to run the business and the petitioner stood as guarantor for the said loan. As the respondents 2 and 3 failed to discharge the debt, a notice dated 2.3.2010 was issued to the petitioner under Section 13(2) of the Act, for which, he raised objections. It is alleged that without considering his objections, the 1st respondent-Bank obtained orders from the Chief Metropolitan Magistrate, Hyderabad for a demand amount of Rs.32,31,781-15 ps., and issued possession notice dated 19.11.2010. Hence, the present writ petition. On 28.2.2011, while admitting the writ petition, this Court granted interim stay on condition of the petitioner depositing Rs.15,00,000/- within a period of four weeks in two instalments like an amount of Rs.7.50 lakhs within a period of two weeks from that day and thereafter, an amount of Rs.7.5 lakhs within a period of two weeks from the date of payment of the 1st instalment. While passing such conditional order, it was also observed that in default of payment of the said amount, the 1st respondent-Bank is at liberty to proceed further against the petitioner in accordance with law. On 21.9.2011, it was brought to the notice of this Court that the petitioner has not complied with the conditional order dated 28.2.2011. Hence, the matter was directed to be listed for orders. Today, the learned Counsel for the writ petitioner submitted that pursuant to the interim order dated 28.2.2011 passed by this Court, the petitioner paid Rs.7,00,000/-; that he made a representation to the respondent-Bank requesting for one-time settlement, and that even though the respondent-Bank considered the representation and fixed the time for payment of the loan amount, the petitioner could not pay the loan amount within the stipulated time. The learned Counsel for the petitioner submits that the petitioner is ready and willing to clear the loan amount, and prayed that the time fixed by the respondent- Bank for one-time settlement be extended. If the petitioner is serious to pay the loan amount, he is at liberty to approach the respondent-Bank and seek extension of time for payment of the loan amount under one- time settlement, and it is not for this Court to consider such request of the petitioner. In the circumstances, we deem it appropriate to dispose of the writ petition with the following directions: The petitioner is at liberty to approach the respondent-Bank by way of appropriate representation seeking extension of time for repayment of the loan amount, and if any such representation is made, the respondent-Bank may consider the same and pass appropriate orders in accordance with law. Accordingly, the writ petition is dismissed. No costs. __________________ Justice N.V. Ramana DATE: 28.9.2011 ____________________ Justice P. Durga Prasad nn THE HON'BLE SRI JUSTICE N.V. RAMANA & THE HON'BLE SRI JUSTICE P. DURGA PRASAD W.P.No.32297 of 2010 (Order delivered by the Hon’ble Sri Justice N.V. Ramana) 28.9.2011 Nn