THE HON’BLE SRI JUSTICE NOOTY RAMAMOHANA RAO W.P.NO.5442 OF 2008 Dated: 13.3.2008 O R D E R: The writ petitioner is seeking to impugne the action taken by the first respondent-bank in invoking the provisions under Section 13(4) of the Securitisation and Reconstruction of Financial Assets and Enforcement of security Interest Act, 2002 through a notice dated 15.5.2007. The respondent-bank has indicated that the total outstanding dues against the petitioner are to the order of Rs.3,86,460/-. The petitioner asserts that subsequent to the notice dated 15.5.2007 the writ petitioner had made further deposits totaling Rs.38,000/- to the credit of the loan account. The petitioner makes a submission that if time is granted to liquidate the entire outstanding dues and with a view to prove his bona fides, he undertakes to deposit a further sum of Rs.50,000/- on or before 28.3.2008 to the credit of the loan account. He has also offered a proposal to liquidate the balance outstanding liability in a reasonable period of time of not exceeding four months thereafter by way of instalments which the bank will consider. If the petitioner fails to deposit a sum of Rs.50,000/- on or before 28.3.2008 or does not offer any proposal to liquidate the balance outstanding liability within the next four months thereafter or commits any default in making such payments, the first respondent-bank is entitled to proceed further in the matter from the stage where it stands as of now. The Writ Petition is disposed of. No order as to costs. __________________________ NOOTY RAMAMOHANA RAO,J 13th March, 2008 PNV Note: Furnish CC by tomorrow. (B/o) PNV