THE HON'BLE SRI JUSTICE A.GOPAL REDDY and THE HON'BLE SRI JUSTICE NOUSHAD ALI DATED: 31-12-2009 WRIT PETITION No. 20109 OF 2009 Between: M/s. Om Shanthi Travels, shop No.4, Shanti Bhavan, No.2-1-407, Near Railway Bridge, Nallakunta, Hyderabad and another Vuyyuru Srinivasa Reddy. ..... PETITIONER AND The Chief Manager & Authorized Officer, Union Bank of India, Nodal Regional Office, 2nd Floor, Lata Complex, Nampaly, Hyderabad .....RESPONDENT THE HON'BLE SRI JUSTICE A.GOPAL REDDY and THE HON'BLE SRI JUSTICE NOUSHAD ALI WRIT PETITION No. 20109 OF 2009 ORDER: (per Sri A. Gopal Reddy, J) The petitioners – borrowers filed this writ petition challenging the notice issued under Section 13 (2) of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short ‘the SARFAESI Act’) contending that the said notice does not disclose as to when the account has become non performing asset (NPA) though the EMI is being paid regularly and that even after issuance of notice i.e., on 04-08-2009, an amount of Rs.2,00,000/- has been paid to the Bank. Since the petitioners can file their objections for declaring the account as NPA under Section 13 (3A) to the notice issued under Section 13 (2) of the SARFAESI Act, two weeks time is granted to them to file their objections and thereafter, the respondent – Bank is directed to consider the said objections and pass appropriate orders and communicate the same to the petitioners. Until orders are passed on the objections and communicated to the petitioners, no coercive steps shall be taken by the Bank. Learned counsel for the petitioners submits that the petitioners are negotiating with the Bank for One Time Settlement (OTS). If that be the case, it is always open to the petitioners to negotiate with the Bank for OTS. The writ petition is accordingly disposed of. A. GOPAL REDDY, J NOUSHAD ALI, J 31-12-2009 ks