IN THE HIGH COURT OF JUDICATURE, ANDHRA PRADESH AT HYDERABAD (Special Original Jurisdiction) TUESDAY, THE FIFTEENTH DAY OF APRIL TWO THOUSAND AND EIGHT PRESENT THE HON'BLE MR JUSTICE C.V.NAGARJUNA REDDY WRIT PETITION NO : 21344 of 2006 Between: S. Bhadraiah, S/o. Sri Sambaiah, R/o. C/o. Metal Crafts, C-11/1/2 & 3 Electronic Complex, Kushaiguda, Hyderabad. ..... PETITIONER AND 1 Andhra Pradesh Industrial Development Corporation, Parisrama Bhavanam, Basheerabagh, Hyderabad. Rep by its Deputy General Manager (AMD & RR) 2 Tahsilar, A.P. Industrial Development Corporation, Parisrama Bhavanam, Basheerabagh, Hyderabad. 3 M/s. Amit Polymers & Composites Ltd. Chitkul, Patancheruvu, Medak District. 4 R.K. Mehta, S/o. Sri Lal Mehta, R/o. 404, Uma Enclave, Road No. 9, Banjara Hills, Hyderabad. .....RESPONDENTS Counsel for the Petitioner:MR.C.RAGHU Counsel for Respondent Nos.1 & 2: MR.B.DAMODAR REDDY The Court made the following : ORDER: This writ petition is filed to quash proceedings, dated 15.06.2006 issued by respondent No.2 whereby he called upon the petitioner to pay a sum of Rs.6,63,04,000/- towards loan amount. At the hearing, Sri B.Damodar Reddy, learned Standing Counsel for respondent Nos.1 and 2 fairly submitted that since the petitioner’s liability is confined to Rs.4,50,000/-, the respondents will not proceed against him or his properties for recovery of the balance outstanding loan, if the said amount is paid by him. Sri C.Raghu, learned counsel for the petitioner submitted that the petitioner may be granted four (4) weeks’ time for payment of the said amount. In view of the above mentioned submissions of the learned counsel, the writ petition is disposed of permitting the petitioner to pay the sum of Rs.4.50 lakh (Rupees Four Lakh Fifty Thousand only) to respondent No.1 within a period of four (4) weeks from today and on such payment, respondent Nos.1 and 2 shall not proceed against the petitioner or his properties. As a sequel to disposal of main petition, WPMP.No.27062 of 2008 filed by the petitioner for interim relief is disposed of as infructuous. C.V.NAGARJUNA REDDY, J 15th APRIL, 2008 kvni