THE HON'BLE SRI JUSTICE N.V. RAMANA & THE HON'BLE SRI JUSTICE P. DURGA PRASAD WRIT PETITION NO :30340 of 2011 Dated: 18.11.2011 Between: 1. M/s. Avanthi Constructions, rep., by its Partner Mr. Shashank and others. ..Petitioners And Dhana Lakshmi Bank, rep., by its Authorized Officer. ..Respondent This Court made the following: THE HON'BLE SRI JUSTICE N.V. RAMANA & THE HON'BLE SRI JUSTICE P. DURGA PRASAD W.P.No.30340 of 2011 ORDER: (Per Hon’ble Sri Justice N.V. Ramana) Challenging the notices dated 6.6.2011 and 28.9.2011 issued by the respondent-Bank under section 13(2)& (4) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, for sale of ﬂats in “Avanthi Venture” bearing D.No.3- 3-914. Kutbiguda, Hyderabad, the present writ petition has been filed. Heard both the Counsel and perused the material available on record. It is the admitted case of the petitioners that they developed a venture in the name of Avanthi Ventures at Kutbiguda, Hyderabad and availed term loan of Rs.2,00,000/- by creating an equitable mortgage over some ﬂats in Avanthi Ventures and they did not repay the loan amount. However, it is the case of the petitioners that they sold the ﬂats and changed their business activity and informed about the change of their address. But the respondent-Bank without sending any notice to their changed address, initiated the proceedings against the petitioners and ﬁled O.S.No.1302 of 1997 before the VII Senior Civil Judge, City Civil Court, Hyderabad for sale of the mortgaged property and obtained a ﬁnal decree against them and that the petitioners came to know about the same on receipt of notice dated 29.9.2011 issued by the ﬂat owners of Avanthi Ventures, and hence, they ﬁled the present writ petition. The learned Standing Counsel appearing for the respondent-Bank submits that the petitioners failed to repay the loan amount and therefore, they initiated the proceedings under the Act and that the mortgaged properties of the petitioners were put to auction and the auction purchasers are the persons, who purchased the ﬂats from the petitioners and they already paid the amount and therefore, no further orders need to be passed in this writ petition. The learned Counsel for the petitioners did not dispute the submissions made by the Standing Counsel. In these circumstances, we feel that no further orders are necessary in this writ petition. Hence, the writ petition is closed. __________________ Justice N.V. Ramana DATE: 18.11.2011 ____________________ Justice P. Durga Prasad nn THE HON'BLE SRI JUSTICE N.V. RAMANA & THE HON'BLE SRI JUSTICE P. DURGA PRASAD W.P.No.30340 of 2011 (Judgment delivered by the Hon’ble Sri Justice N.V. Ramana) 18.11.2011 Nn