THE HON'BLE SRI JUSTICE N.V. RAMANA & THE HON'BLE SRI JUSTICE P. DURGA PRASAD WRIT PETITION NO :31324 of 2010 Dated: 28.9.2011 Between: M/s. Sri Veera Prabha Filling Station rep., by its Managing Partner, Kakinada. ..Petitioner And 1. The ICICI Bank, rep., by its Branch Manager, Kakinada and others. ..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.31324 of 2010 ORDER: (Per Hon’ble Sri Justice N.V. Ramana) This writ petition is filed seeking to declare the proceedings bearing Ref.C1(M)/881/2010 dated 16.10.2010 of respondent No.3 as illegal and contrary to the mandatory provisions of the Securitization & Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. The brief facts of the case are as follows: The petitioner is a partnership firm carrying on business as a dealer of Indian Oil Corporation (IOC) at Kakinada and the 1st respondent-Bank extended financial assistance to the petitioner by taking the property as a collateral security. The 1st respondent-Bank without giving any opportunity to the petitioner stopped the financial facilities made available to it and respondents 1 and 2 issued a notice dated 8.7.2008 demanding to pay a sum of Rs.13,68,351/- along with interest thereon within seven days. When the respondents intend to proceed under the provisions of the SARFAESI Act by bringing the property to sale, the petitioner filed SA No.74 of 2009 before the Debt Recovery Tribunal, Visakhapatnam (DRT). The Tribunal through order, dated 9.11.2009 directed the respondents to issue a fresh possession notice and sale notice by giving 30 days time. But the respondents without issuing any fresh possession notice initiated the impugned proceedings to take possession of the property. Hence, the present writ petition is filed. On 13.12.2010, while admitting the writ petition, this Court granted interim suspension of the impugned proceedings subject to the condition of the petitioner depositing six lakhs within a period of two weeks. On 15.3.2011, it was ordered that the interim order granted on 13.12.2010 shall continue on further condition of the petitioner depositing a sum of Rs.15 lakhs within two weeks from that day and a further sum of Rs.15 lakhs within two weeks therefrom. On 22.9.2011 as there was no representation on behalf of the petitioner and it was brought to the notice of this Court that the writ petitioner has not complied with the conditional interim order, the matter was directed to be listed under the caption of “for dismissal”. Today, the learned Counsel for the petitioner while submitting that the petitioner has not complied with the conditional order, seeks extension of time for compliance of the same. The petitioner having not complied with the interim order cannot seek any indulgence of this Court. Hence, we are not inclined to grant any further relief to the petitioner in the writ petition. Accordingly, the writ petition is dismissed. No order as to 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.31324 of 2010 (Order delivered by the Hon’ble Sri Justice N.V. Ramana) 28.9.2011 Nn