THE HON'BLE SRI JUSTICE N.V. RAMANA & THE HON'BLE SRI JUSTICE P. DURGA PRASAD WRIT PETITION NO :3828 of 2011 Dated: 14.9.2011 Between: K. Hanumantha Reddy ..Petitioner And Assistant General Manager-cum-Authorized Officer, S.B.I, Hyderabad. ..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.3828 of 2011 ORDER: (Per Hon’ble Sri Justice N.V. Ramana) This writ petition is filed seeking to declare the action of the respondent in invoking the provisions of Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 as illegal and arbitrary. It is the case of the petitioner that he availed loan amount of Rs.22,00,000/- for the purpose of business from the respondent-Bank and he could not pay the instalments for some time and hence, the respondent-Bank issued notice under Section 13 (2) of the Act on 13.8.2010 and thereafter, he made payments but the respondent-Bank is initiating the proceedings against him under the provisions of the Act. On 18.2.2011, while admitting the writ petition, this Court granted interim stay on condition of the petitioner depositing Rs.10,00,000/- (Rupees Ten Lakhs only) within four weeks from that day. While passing such conditional order, it was also observed that in default of payment of the said amount, the respondent-Bank is at liberty to proceed further against the petitioner in accordance with law. Now, it is brought to the notice of this Court that the petitioner has not complied with the conditional order dated 18.2.2011. In view of the non-compliance of the conditional order passed by this Court, we are not inclined to entertain this writ petition. At this stage, the learned Counsel for the petitioner submits that he wants to approach the Bank for one settlement by way of a representation. Accordingly, the writ petition is dismissed. However, the petitioner is at liberty to make a representation to the respondent-Bank for one time settlement. On such representation being filed, the respondent-Bank shall consider the same in accordance with law. No order as to costs. __________________ Justice N.V. Ramana DATE: 14.9.2011 ____________________ Justice P. Durga Prasad nn THE HON'BLE SRI JUSTICE N.V. RAMANA & THE HON'BLE SRI JUSTICE P. DURGA PRASAD W.P.No.3828 of 2011 (Order delivered by the Hon’ble Sri Justice N.V. Ramana) 14.9.2011 Nn