THE HON'BLE SRI JUSTICE GHULAM MOHAMMED and THE HON'BLE SRI JUSTICE G. CHANDRAIAH W.P.No.16077 of 2010 ORDER: (Per Sri Justice Ghulam Mohammed, J) The first petitioner obtained loan for a sum of Rs.24 lakhs from the first respondent Bank by mortgaging his house bearing No.H.No.12-10-587/28, situated at Sithaphalmandi, Secunderabad, payable by him in equated monthly instalments at the rate of Rs.30,150/-per month and petitioners 2 and 3 are the co- obligants. As the first petitioner has sustained loss in his business, he failed to pay two monthly instalments and again started paying at the rate of Rs.10,000/-per month from March, 2010 till date, but the first respondent-Bank issued notice under Section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short ‘the Act’). The petitioners state that though the first petitioner requested to permit him to pay the instalments @ Rs.10,000/-per month, the first respondent Bank rejected the same and thereafter, taken measures under Section 13(4) of the Act. Hence, they filed this writ petition seeking a writ of mandamus to declare the action of the respondents in not considering their request for reduction of Equated Monthly Installments from Rs.30,150/- to Rs.10,000/-per month and initiation of proceedings under the Act, as illegal and arbitrary. 2. Since the petitioners are having an effective alternative remedy of appeal under Section 17(1) of the Act as against the notice under Section 13(4) of the Act, the writ petition is not maintainable and the same is liable to be dismissed. 3. Accordingly, the Writ Petition is dismissed. No order as to costs. ______________________ GHULAM MOHAMMED, J _________________ G. CHANDRAIAH, J Date:09.07.2010 sj