THE HON'BLE SRI JUSTICE N.V. RAMANA & THE HON'BLE SRI JUSTICE P. DURGA PRASAD W.P. No.21540 OF 2011 9.8.2011 Between: M/s. Suraksha Pharmacy, Kukatpally, rep., By its Partner. ..Petitioner Vs. 1. Federal Bank Limited, rep., by its Chief Manager and another. .. Respondents This Court made the following: THE HON'BLE SRI JUSTICE N.V. RAMANA & THE HON'BLE SRI JUSTICE P. DURGA PRASAD W.P. No.21540 OF 2011 ORDER: (Per the Hon’ble Sri Justice N.V. Ramana) Challenging the notice dated 8.6.2011 issued by the respondent- Bank under the provisions of Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, the present writ petition is filed. The petitioner obtained Term Loan and Cash Credit Loan from the respondent-bank and committed default in payment of the same in instalments. Hence, the respondent-Bank issued the impugned notice under Section 13(4) of the Act on 8.6.2011 granting time to the petitioner to pay the amount within sixty days from the date of receipt of notice. As the petitioner did not pay the amount within the time stipulated in the impugned notice, the respondent-Bank is going to initiate action against him. At this stage, the petitioner filed the present writ petition. On instructions, the learned Standing Counsel for the respondent- Bank submitted that as on today, the petitioner has to pay Rs.27,00,000/- to the respondent-Bank. Disputing the same, the learned Counsel for the petitioner stated that the petitioner has to pay Rs.24,00,000/- only. The statement itself goes to show that the petitioner owed to the respondent-Bank and committed default in payment of the amount and therefore, the respondent-Bank issued the notice. In the circumstances, this Court is not inclined to pass any orders with regard to the notice impugned and hence, the writ petition is liable to be dismissed. Accordingly, the writ petition is dismissed. However, the petitioner is at liberty to negotiate with the respondent-bank for settlement, if he so desires by filing a representation. On such representation being filed, the respondent-Bank shall consider the same in accordance with law. No order as to costs. _______________ N.V.RAMANA, J ___________________ P. DURGA PRASAD, J Dated: 9.8.2011 Nn THE HON'BLE SRI JUSTICE N.V. RAMANA & THE HON'BLE SRI JUSTICE P. DURGA PRASAD W.P. No.21540 OF 2011 (Order delivered by the Hon’ble Sri Justice N.V. Ramana) 9.8.2011 Nn