THE HON'BLE SRI JUSTICE GHULAM MOHAMMED and THE HON'BLE SRI JUSTICE K.G.SHANKAR W.P.No.7412 of 2011 ORDER: (Per Sri Justice Ghulam Mohammed, J) This writ petition is filed seeking a mandamus declaring the action of the first respondent – Indian Bank, represented by Authorised Officer, Circle Office, Chittoor, Chittoor District, in issuing notice, dated 17.02.2011, to hold auction of the property of the petitioner on 24.03.2011 at 3.00 p.m. at the second respondent – Indian Bank, represented by its Manager, Kongareddypalle Branch, Kongareddypalle, Chittoor District, as illegal and arbitrary. It is the case of the petitioner that one Challakundla Naveen and Karunakar Babu are her grand son and son respectively. They availed education loan for a sum of Rs.5,00,000/- from the second respondent bank on 31.03.2004 by mortgaging her house property situated at B.V.Reddy Colony, Gandalapalle Revenue Village, Chittoor District, and agreed to repay the same from the date of the first borrower securing a job. It is stated that the first respondent issued notice under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (Second) Act, 2002 (for short ‘the Act’), requiring the petitioner to pay due amount of Rs.5,69,951.28 ps. It is further stated that on the ground that the loan amount is not paid, the first respondent invoked the provisions of Section 13(4) of the Act, according to which, the Bank is entitled to take possession of the secured assets and also effect sale of the same and realise the proceeds towards the outstanding balance, and accordingly, possession of the subject property was taken on 29.10.2010. Subsequently, the first respondent issued notice, dated 17.02.2011 under Rules 6(2) and 8(6) of the Security Interest (Enforcement) Rules, 2002, for sale of the subject property on 24.03.2011 at 3.00 p.m. at the second respondent bank. Learned counsel for the respondents submits that an amount of Rs.3,00,000/- was paid by the borrowers towards their loan account, as evident from a copy of the statement of account available in the material papers of the record, and that the loan amount payable by them is Rs.2,82,000/-. Learned counsel for the petitioner submits that a sum of Rs.2,00,000/- has been paid towards the loan account and the borrowers promised to pay the remaining balance amount by tomorrow. Having heard the learned counsel on either side and considering the fact that the auction of the subject property is scheduled to be held on 24.03.2011, we, without going into the merits of the case, direct the petitioner to pay entire outstanding amount along with interest by the end of March, 2011. Till such payment, the first respondent shall not proceed with the auction of the subject property. With the above direction, the Writ Petition is disposed of. No costs. _________________________ GHULAM MOHAMMED, J ___________________ K.G.SHANKAR, J 22nd MARCH, 2011. Note: issue copy by tomorrow. kvni