THE HONOURABLE SRI JUSTICE N.V. RAMANA AND THE HONOURABLE SRI JUSTICE P. DURGA PRASAD WRIT PETITION No. 30146 of 2011 ORDER: (Per NVR,J) The petitioners admittedly obtained loans from the respondent bank. As they fell in arrears of installments, the bank has initiated proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, for recovery of the dues, and issued impugned sale notices dated 08.10.2011, proposing to sell the mortgaged properties for realization of the dues. It is the grievance of the petitioners that in the impugned sale notices, the respondent bank has fixed the reserve price of their property, which is open land admeasuring 10.05 acres situated in Sy. Nos. 752, 753 and 754, Lalgadimalakpet Village, Shamirpet, Ranga Reddy District, at Rs.2,83,50,000/-, which is very less than the actual market value of the land, and even as per the valuation report submitted by the approved panel valuer for State Bank of Hyderabad and Punjab and Sind bank, the fair market value of the property is Rs.6,86,00,000/-. Though the petitioners contend that the reserve price of the subject property fixed by the respondent is very low and less than the actual market value, the counsel for the respondent submits that in spite of the respondent bank conducting auction thrice, no bidder came forward, which is not disputed by the counsel for the petitioners. The counsel for the respondent also submits that if the petitioners can get any bidder for purchasing the property at a higher rate, the respondent bank has no objection to consider the same. In view of the above submissions made by the counsel for the respondent, which were agreed to by the counsel for the petitioners, we are of the opinion that no further orders need be passed in the present writ petition. The writ petition is accordingly dismissed. No order as to costs. ___________________ JUSTICE N.V. RAMANA _________________________ JUSTICE P. DURGA PRASAD 14th December, 2011 IBL