THE HONOURABLE SRI JUSTICE N.V. RAMANA AND THE HONOURABLE SRI JUSTICE P. DURGA PRASAD WRIT PETITION No. 22559 of 2011 ORDER: (Per Hon’ble Sri Justice N.V. Ramana) This writ petition is filed seeking a writ of Mandamus declaring the action of the 2nd respondent bank in issuing auction notice dated 05.07.2011 under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, as arbitrary and illegal. It appears, when the bank has initiated proceedings under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, for recovery of the amounts due and payable by them, the petitioners have approached the Debts Recovery Tribunal, Visakhapatnam, by filing S.A. No. 34 of 2011, and they have also filed I.A. No. 71 of 2011 praying for interim relief pending disposal of the S.A. The Tribunal passed interim orders in the said I.A., on 21.02.2011, directing the defendants in the S.A. to maintain status quo as of that date in respect of the possession notice dated 12.01.2011 issued by the Authorized Officer of the first defendant bank, subject to the condition of the applicants depositing a sum of Rs.10.00 lakhs on or before 25.03.2011 with the first defendant bank. It was made clear by the Tribunal that if the applicants fail to deposit the said amount, the order of status quo granted stands vacated. While so, in pursuance of the said order, the petitioners could pay only Rs.5.00 lakhs within the time stipulated by the Tribunal and have paid the balance amount of Rs.5.00 lakhs thereafter. As they failed to comply with the condition imposed by the Tribunal within the time stipulated, the bank has issued the impugned auction notice. When the writ petition has come up for admission before this Court on 09.08.2011, this Court, having heard both the counsel and as the petitioners agreed to deposit another Rs.15.00 lakhs within three weeks, passed the following interim order, while issuing notice before admission: “The petitioners are directed to deposit Rs.15.00 lakhs within a period of three weeks from today. Respondents 1 to 3 may receive the tenders pursuant to the impugned auction notification. However, they shall not open them until further orders of this Court.” At the hearing, it is brought to the notice of the Court by the counsel for the respondent bank that the petitioners have not complied with the conditional order passed by this Court on 09.08.2011. As the petitioners have failed to comply with the conditional order passed by this Court, they are not entitled to any indulgence by this Court and the writ petition is liable to be dismissed. The writ petition is accordingly dismissed. No order as to costs. _____________ N.V. RAMANA, J _________________ P. DURGA PRASAD, J 6th September 2011 IBL