THE HON’BLE SRI JUSTICE VILAS V. AFZULPURKAR WRIT PETITION NO.29732 2011 Dated: 9.11.2011 Between: K. Penchala Reddy ..Petitioner And 1. State Bank of India, Zonal Officer, Hyderabad and others. ..Respondents. This Court made the following: THE HON’BLE SRI JUSTICE VILAS V. AFZULPURKAR WRIT PETITION NO.29732 OF 2011 ORDER Heard the learned Counsel for the petitioner and Sri Deepak Bhattacharjee, learned Counsel for respondents 1 to 3-Bank. The petitioner’s grievance is with respect to his tractor bearing No.AP 26 P 8814 seized by the 3rd respondent on 2.11.2011 for the arrears of tractor loan account. The petitioner’s affidavit itself states that he is said to be due of Rs.3,86,000/-. The petitioner states that his tractor is essential agricultural equipment required by him for every day use and though he has offered to pay a substantial amount towards One Time Settlement (OTS), the same is not being considered by the Bank. The petitioner, therefore, seeks that the vehicle be released on condition of deposit and in the meanwhile, the respondents may consider the petitioner’s application for OTS. The OTS application submitted by the petitioner is not filed. It is apparent from the documents filed that out of loan of Rs.5,23,000/- availed by the petitioner for the said tractor, he has been credited an amount of Rs.1,04,863/- under Agricultural Debt Subsidy Policy, 2008 of the Government of India. The petitioner now states that he prepared to pay reasonable amount as one time settlement, if his representation is considered. Learned Standing Counsel for the Bank submits that the respondents have no objection to consider OTS application submitted by the petitioner as per the policy and norms. In the circumstances, the writ petition is disposed of directing the respondents to release the vehicle of the petitioner referred to above subject to the petitioner depositing Rs.1,50,000/- with the 3rd respondent-Branch. The petitioner is also permitted to make a fresh application for grant of OTS, within a period of two weeks from today. On such application being filed, the respondents shall consider and pass appropriate orders thereon within four weeks thereafter. The amounts already credited to the account of the petitioner shall be given credit to for arriving at the amount quantified under OTS. In case of petitioner’s failure to pay the amount determined under OTS as above, the respondents shall be free to proceed with the recovery proceedings, in accordance with law. The writ petition is accordingly disposed of. No order as to costs. ______________________ VILAS V. AFZULPURKAR,J Dated: 9.11.2011 Note: CC tomorrow B/O Nn THE HON’BLE SRI JUSTICE VILAS V. AFZULPURKAR WRIT PETITION NO.29732 OF 2011 09.11.2011