THE HONOURABLE SRI JUSTICE N.V. RAMANA AND THE HONOURABLE SRI JUSTICE P. DURGA PRASAD WRIT PETITION No. 28792 of 2011 ORDER: (Per Hon’ble Sri Justice N.V. Ramana) Questioning the public notice dated 22.09.2011 issued by the 1st respondent, proposing to auction the subject property belonging to the petitioners, the petitioners filed the present writ petition. The petitioners, having borrowed amounts from the 1st respondent bank, failed to repay the same and in the process of recovery of the said amounts, the bank has initiated proceedings under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short ‘the Act’), and issued the impugned notice for auction of the subject property. It is the grievance of the petitioners that O.A. No. 165 of 2006 filed by the 1st respondent bank against them is pending on the file of the Debt Recovery Tribunal, Hyderabad, and that they are negotiating with the bank for one time settlement of the loan account, and while the said process is under consideration, the bank has issued the impugned notice, with a view to harass them. Even according to the petitioners, the 1st respondent bank has been considerate in granting one time settlement, on more than one occasion, since 2005. The petitioners did not make use of the same and instead committed default in paying the amounts. The petitioners, having not availed the opportunities provided by the bank for one time settlement and having not shown violation of any of the statutory procedures by the bank in the recovery of the loan amount due and payable by them, are not entitled to seek interference of this Court, preventing the bank from proceeding in accordance with law for recovery of the loan amount. The writ petition is devoid of merit and is accordingly dismissed. _____________ N.V. RAMANA, J _________________ P. DURGA PRASAD, J 27th October 2011 IBL