THE HON'BLE MR JUSTICE GHULAM MOHAMMED and THE HON'BLE MR JUSTICE K.G.SHANKAR Writ Petition Nos.4994 and 5761 of 2011 COMMON ORDER (Per Sri Justice Ghulam Mohammed, J) Since the issue involved in both these writ petitions is one and the same, they are being disposed of together by this common order. 2. The petitioners, who are wife and husband respectively, availed house loan facility for a sum of Rs.30,55,000/- on 28.12.2006, from the respondent Bank, by mortgaging the site admeasuring 600 square yards in Sy.No.149/7 bearing D.No.58-3- 2 situated in Ramanaidu Colony, Marripalem, Vishakhapatnam. The husband also availed the term loan facility on 13.10.2009 from the same Bank by mortgaging the same property. As both of them failed to repay the said loan amounts, the Bank declared the secured asset as non-performing asset on 16.10.2010 and consequently, issued notices, dated 05.01.2011, under Section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short ‘the Act’) to them. Challenging the said notices, the petitioners filed W.P.No.4994 of 2001 and the husband alone filed W.P.No.5761 of 2011. 3. Heard the learned counsel for the petitioners and the learned counsel for the respondent-Bank. 4. Learned counsel for the petitioners submitted that the petitioners have paid monthly instalments regularly for some period and if an opportunity is given to them, they have to regularize the instalments by paying the overdue amount in two spells. 5. Learned counsel for the respondent-Bank submitted that the overdue amounts as on 31.03.2011 are Rs.3,20,200/-and Rs.1,81,290/- in respect of the loans availed by the petitioners. 6. Taking into consideration the submission of the learned counsel for the petitioners that the petitioners are ready to pay half of the overdue amount by the end of this month so as to regularize the monthly instalments and as agreed by the learned Standing Counsel for the respondent Bank, we deem it appropriate to stay all further proceedings in both the writ petitions on condition of the petitioners paying half of the overdue amount in respect of the loans availed by them on or before 31.03.2011 and the remaining amount shall be paid by them on or before 30.04.2011 and that they shall continue to pay the instalments regularly, in default, the respondent-Bank is at liberty to proceed further in accordance with law. 7. To the extent indicated above, both the Writ Petitions are disposed of. No costs. _____________________ GHULAM MOHAMMED, J _______________ K.G.SHANKAR, J Date:14.03.2011. Note: Issue CC within three days. (Bo) sj