IN THE HIGH COURT OF JUDICATURE, ANDHRA PRADESH AT HYDERABAD (Special Original Jurisdiction) PRESENT THE HON’BLE SRI JUSTICE VILAS V. AFZULPURKAR WRIT PETITION NO.10983 OF 2010 DATED:05.05.2010 Between: Smt. Tummala Krupamani … Petitioner And Bank of India, rep. by its Authorized Officer Visakhapatnam Main Branch, Visakhapatnam zone and another … Respondents THE HON’BLE SRI JUSTICE VILAS V. AFZULPURKAR WRIT PETITION NO.10983 OF 2010 ORDER: The petitioner seeks to challenge the action of the respondent - bank in taking possession of the premises bearing D.No.10-38, Bazar Road, Elamanchili, Visakhapatnam District. The said action of the bank, taking possession on 11.3.2010 through the proceedings of the Collector, is clearly referable to Section 14 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short, ‘the Act’). Sri S. Surya Prakash Rao takes notice and appears for the respondent – bank. The learned counsel for the petitioner fairly submits that the petitioner is prepared to pay the entire amount due as on today with interest, provided the petitioner is granted time till 31.5.2010 to pay the same, so that the source of livelihood, which is the aforesaid premises taken over by the bank, will be saved and be available to the petitioner. The learned counsel for the respondent – bank fairly accepts the said proposal. Therefore, the writ petition shall stand disposed of with the following directions. (i) The petitioner shall approach the respondent – bank within one week from today and shall deposit a sum of Rs.1,50,000/- (Rupees one lakh fifty thousand only) to the aforesaid loan account; (ii) The respondent – bank shall intimate the actual amount due with interest as on today to the petitioner; (iii) The petitioner shall pay the balance amount due on or before 31.5.2010; and (iv) On such payment and closure of the loan account, the bank shall withdraw all proceedings under the Act against the petitioner and handover possession of premises bearing D. No.10-38, Bazar Road, Elamanchili, Visakhapatnam District, to the petitioner. ______________________ VILAS V. AFZULPURKAR, J 05.05.2010 bnr