IN THE HIGH COURT OF JUDICATURE, ANDHRA PRADESH AT HYDERABAD (Special Original Jurisdiction) TUESDAY, THE TWENTY SECOND DAY OF JULY TWO THOUSAND AND THREE PRESENT THE HON'BLE MR JUSTICE B.PRAKASH RAO WRIT PETITION NO : 21378 of 2003 Between: M/s Venkata raghava Milk Processing Unit rep by its prop. Gajjarapu nirmala, w/o Satyanarayana prasad rao r/o Alamuru, Alamuru mandal, E.G District ..... PETITIONER AND 1 AP State Finance Corporation repby its Managing Director Chirag ali lane, Abids road, Hyderabad 2 AP State Finance Corporation rep by its Branch Manager near Ramakrishna matt, Korukonda road, Rajahmundry, EG.district .....RESPONDENTS Petition under Article 226 of the Constitution of India praying that in the circumstances stated in the affidavit filed herein the High Court will be pleased to issue a writ of mandamus declaring the proposed action of the respondents in seizing the petitioner unit for sale pursuant to impugned recall-cum-sale Notice No.APSFC/MR&R/Zone-IV/PAR/03-04 dt.03-09-2003 as illegal arbitrary and violative of principles of natural justice and for a consequential order directing the respondents to drop all further proceedings including seizure of the petitioner unit for sale pursuant to the Recall Cum-Sale Notice NO. APSFC/MR&R/Zone- IV/PAR/03- 04 and pass such other orders. Counsel for the Petitioner: MR.CH.DHANAMJAYA Counsel for the Respondent No.1 & 2: Mr.Y.N.Lohita, Standing Counsel for APSF Corporation The Court made the following : W. P. No. 21378 OF 2003 ORDER:- Heard both the learned counsel and at their request, the main writ petition itself is taken up for disposal at the stage of Interlocutory Application. Petitioner, which is a processing unit and has availed the loan facility from the respondent-corporation, filed this writ petition, inter alia, seeking to assail the impugned notice dated 3-9-2003 issued by the respondent – corporation demanding the loan amount and also seizing the unit for sale. Though several contentions have been urged by the writ petitioner and the same are opposed on behalf of the respondents, however, it is submitted that the petitioner has already made a deposit of Rs. 75,000/- and filed an application on 11-2-2004 seeking benefit of one time settlement, which is still pending and no orders are passed, this writ petition is disposed of directing the respondents to consider the said application and pass orders in accordance with law after giving opportunity to the petitioner, within a period of four weeks from the date of receipt of a copy of this order. It is needless to mention that till the disposal of the said application, no coercive steps shall be taken by the respondents. No costs. Stv/- 22—07—2004. To 1 The Managing Director, AP State Finance Corporation, Chirag ali lane, Abids road, Hyderabad 2 The Branch Manager, AP State Finance Corporation, near Ramakrishna matt, Korukonda road, Rajahmundry, EG.district 3. Two CD copies.