IN THE HIGH COURT OF UTTARAKHAND AT NAINITAL Stay Application No.3803 of 2010 In Writ Petition No.773 of 2010 (M/S) M/s Sai Survey Instruments and another. ……Petitioners. Versus Central Bank of India and another. ….Respondents. Mr. A.K. Sharma, Advocate for the petitioners. Mr. Arvind Vashisth, Advocate for the respondents. Dated: -21-05-2010 Hon’ble B.S.Verma, J. Heard learned counsel for the parties and perused the record. By means of this writ petition, the petitioners have sought following relefs:- (i) Issue a writ, order or direction in the nature of certiorari quashing the possession notice dated 14-5- 2010 (contained as annexure No.4 to this writ petition). (ii) Issue a writ, order or direction in the nature of mandamus commanding/directing the respondents to take the aforesaid amount in easy installments. (iii) Issue any other relief, which this Hon’ble Court may deem fit and proper in the circumstances of the case be passed in favour of the petitioners. (iv) Cost of the petition be awarded in favour of the petitioners.\ Learned counsel for the petitioners has submitted that he is ready to pay the defaulted amount i.e. Rs. 20,34,519 in equal four quarterly installments. 2 Since the proceeding is under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, the bank is the authority to consider the request of the petitioners. Since, the petitioners are ready to pay the amount in easy installments, they may make a representation before the respondent Bank within a week, the bank shall considered the representation of the petitioners sympathetically and shall pass appropriate order, preferably within a period of two weeks thereafter. Till the decision of the representation, the steps for actual physical possession shall not be taken by the respondent No.1. With the observation and direction, the writ petition is disposed of finally. All pending applications stands disposed of accordingly. (B.S.Verma, J.) 21-05-2010 MK