THE HON’BLE SRI JUSTICE C.Y.SOMAYAJULU Writ Petition No.23379 of 2004 (DATED: 08-02-2008) Between: B.T.Nalla Reddy S/o Thirupathi Reddy R/o D.No.10/157, Reddypet, Bethamcherla, Kurnool District. …Petitioner A n d The Managing Director, Andhra Pradesh State Financial Corporation Chirag Ali Lane, Hyderabad and another ….Respondents ORDER: This writ petition is filed questioning the seizure of the unit of the petitioner by the Andhra Pradesh State Financial Corporation (“the Corporation”) by invoking the power vested in by Section 29 of the State Financial Corporation Act, 1951 (“the Act”). 2. At the time of hearing, learned counsel for the petitioner stated that the petitioner is willing to enter into ‘One Time Settlement’ and clear off the amount payable to the Corporation. 3. The contention of the learned Standing Counsel for the Corporation is that though an opportunity was given to the petitioner to avail the benefit of One Time Settlement, he did not do so and when the Corporation took the step of seizure of his property and advertised it for sale, the petitioner filed this writ petition and obtained stay of proceedings and so, the question of granting the benefit of One Time Settlement does not arise. 4. Since granting or otherwise of the benefit of One Time Settlement is in the discretion of the Corporation, the petitioner can make a representation seeking One Time Settlement to the Corporation and it is for the Corporation to take a decision whether to grant the prayer sought for by the petitioner or not and dispose of the same as per the rules in force. 5. So, granting liberty to the petitioner to make a representation for availing the benefit of one time settlement and granting liberty to the Corporation to take a decision on that representation, the writ petition is disposed of. 6. In the circumstances stated by the learned Standing Counsel for the Corporation, the Corporation is entitled to costs of this petition. Advocate’s fee is fixed at Rs.1000/-. _____________________ C.Y.SOMAYAJULU, J 8-2-2008 RAR THE HON’BLE SRI JUSTICE C.Y.SOMAYAJULU Writ Petition No.23379 of 2004 (DATED: 08-02-2008)