IN THE HIGH COURT OF JUDICATURE, ANDHRA PRADESH AT HYDERABAD (Special Original Jurisdiction) FRIDAY, THE TWENTY FIFTH DAY OF APRIL TWO THOUSAND AND EIGHT PRESENT THE HON'BLE MR JUSTICE C.V.NAGARJUNA REDDY WRIT PETITION NO : 19350 of 2007 Between: G. Purushotham Reddy S/o G. Rami Reddy r/o Tallada Village,and Mandal, Khammam District. ..... PETITIONER AND 1 A.P. State Financial Corporation, repby Managing Director, Chirag Ali Lane, Abids, Hyderabad. 2 A.P. State Financial Corporation, Khammam Branch rep by its Branch Manager, ERR Complex, Railway Station, Khammam. .....RESPONDENTS Counsel for the Petitioner:MR.M.RAVINDRA BHARATI Counsel for the Respondents: MR.M.VIDYASAGAR The Court made the following : ORDER: This writ petition is filed for a writ of mandamus to declare the action of the respondents in bringing the land and building of Sri Laxmi Narasimha Flour and G.N.Oil Mills, Tallada Village and Mandal, Khammam District, for sale as arbitrary and illegal. The petitioner sought for a consequential direction to the respondents to desist from processing the final offer of Rs.7,20,000/- as indicated in the telegraphic notice, dated 06.09.2007. Heard Sri M.Ravindra Bharati, learned counsel for the petitioner and Sri M.Vidyasagar, learned Standing Counsel for the respondents. On 11.09.2007, this Court while issuing notice before admission passed the following order: “The learned counsel for the petitioner has placed a Demand Draft drawn in the name of the A.P.S.F.C., bearing No.676111, dated 11th September 2007 on ABN Amro Bank, in a sum of Rs.1-00 lakh as the initial payment of the series of installments through which he wants to liquidate the entire liability. Sri M.Vidya Sagar the learned Standing Counsel for the A.P.S.F.C., submits that as on today, the total outstanding liability of the writ petitioner is more than Rs.9-00 lakhs and that the writ petitioner has been accorded reasonable opportunities to liquidate the entire loan outstanding. Since, the writ petitioner has demonstrated his bona fides by depositing a lakh of rupees right now, the A.P.S.F.C., is directed not to finalise the proposed sale of the Unit of the writ petitioner for a further period of two months from today. The writ petitioner shall continue to deposit the monthly instalments of Rs.1—lakh each on 15th of October, 15th of November and on every 15th of the succeeding months till the entire loan outstanding is cleared off.” At the hearing, Sri M.Vidyasagar, learned Standing Counsel placed before me letter, dated 19.04.2008 addressed by the Branch Manager of respondent No.1 Corporation wherein it is mentioned that the outstanding amount due from the petitioner is Rs.2,81,061/- as on 31.03.2008. Sri M.Ravindra Bharati, learned counsel for the petitioner submitted that if the petitioner is given reasonable time, he will pay off the entire amount due to the respondents. In view of readiness of the petitioner to clear the dues, the writ petition is disposed of by permitting the petitioner to pay the sum of Rs.2,81,061/- along with interest added from 01.04.2008 till the date of payment on or before 30.06.2008. If the petitioner fails to make such payment, the respondents shall be free to take action for recovery. C.V.NAGARJUNA REDDY, J 25th APRIL, 2008 kvni