THE HON'BLE SRI JUSTICE B.PRAKASH RAO And THE HON'BLE SRI JUSTICE B.N.RAO NALLA WRIT PETITION NO.8721 OF 2011 ORDER: (Per the Hon’ble Sri Justice B.Prakash Rao) Heard Sri Sai Gangadhar Chamarty, learned counsel for the petitioner and Sri V.Raghu, learned Standing counsel for the respondent-Bank. At their request, the Writ Petition itself is taken up for disposal at the admission stage. The grievance of the petitioner is only against the interim order passed pending the appeal before the Debts Recovery Tribunal, Visakhapatnam {“the Tribunal” for brevity}, wherein, the earlier interim orders of status quo sought to be modified mainly on the ground that there has been a settlement. The factum of settlement has been denied by the Bank and therefore, the question of varying with the interim order granted earlier does not arise and instead, there should be status quo pending the appeal. Having heard on either side and on perusal of the material available on record, it is seen that the present proceedings are only against the interlocutory proceedings and hence, we do not find any reason to go into the merits at this stage. Be that as it may, it would suffice in the interest of justice to grant interim stay subject to the petitioner depositing an amount of Rs.6,00,000/- {Rupees six lakh only} with the respondent-Bank within a period of four {4} weeks from today and the Tribunal shall dispose of the appeal on merits and in accordance with law, after giving opportunity to both the sides. Subject to the above, the Writ Petition is disposed of. It is needless to mention that the interim stay shall continue till the disposal of the appeal. However, in case of default, the interim stay stands vacated. No costs. _________________ (B.PRAKASH RAO, J) ________________ (B.N.RAO NALLA, J) 13th April 2011 RRB