IN THE HIGH COURT OF JUDICATURE, ANDHRA PRADESH AT HYDERABAD (Special Original Jurisdiction) PRESENT: THE HON’BLE MR. JUSTICE C.V.NAGARJUNA REDDY FRIDAY, THE THIRTY FIRSTDAY OF JULY, TWO THOUSAND NINE ONLY WRIT PETITION No.15422 of 2009 Between: B. Anil Kumar Reddy … Petitioner And Senior Branch Manager, A.P. State Financial Corporation, Jayanagar Colony, Kadapa & another. … Respondents Counsel for the petitioner : Sri M.N. Narasimha Reddy Counsel for the respondents: Sri Y.V. Ravi Prasad This Court made the following: THE HON’BLE MR. JUSTICE C.V.NAGARJUNA REDDY WRIT PETITION No.15422 of 2009 ORDER:- This writ petition is filed of a Mandamus to direct the respondents to grant three months’ time to pay the arrears in respect of account No.54836515. The petitioner obtained loan from the respondents in connection with his dealership business in the sale of Swaraj Tractors. He averred that his property, which was given as security to the respondents, is proposed to be acquired for construction of a road over bridge (for short, 'ROB'). Due to defaults committed by the farmers, who were the petitioner's customers, he could not pay the loan instalments which fell due. He also stated that the said property is under acquisition for construction of ROB and that there is a likelihood of passing of award under the Land Acquisition Act, 1894. He therefore sought for reasonable time for clearing of the dues payable to the respondents. Sri Y.V. Ravi Prasad, learned Standing counsel representing the respondents, submitted that in respect of the account in question the amount outstanding under the instalments, which already fell due, is Rs.13,39,504/- and that the respondents have already granted reasonable time to the petitioner more than once for clearing all the instalments. In the considered opinion of this Court, it would be in the interests of justice that the petitioner is granted reasonable time for clearing the loan amount under the instalments, which already fell due. Therefore, the writ petition is disposed of in the following terms: a) to show his bona fides, the petitioner shall pay a sum of Rs.2,00,000/- within two weeks from today. b) the petitioner is permitted to pay the balance amount of Rs.11,39,504/- within a period of three months from the date of payment of the abovementioned amount, and c) if the petitioner commits default of any of the above two conditions, the respondents shall be free to take action in accordance with law. As a sequel to disposal of the writ petition, WPMP.No.20251 of 2009 filed by the petitioner for interim relief is disposed of as infructuous. _____________________________ C.V. NAGARJUNA REDDY, J Date: 31.07.2009 ES