THE HON'BLE SRI JUSTICE GHULAM MOHAMMED and THE HON'BLE SRI JUSTICE K.G.SHANKAR WRIT PETITION No.15152 of 2011 ORDER: (per Hon’ble Sri Justice Ghulam Mohammed) This Writ Petition is filed seeking a writ of mandamus declaring the action of the respondent-bank in issuing the possession notice dated 17.05.2011 under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short ‘the Act’) as illegal and arbitrary. The petitioner had borrowed an amount of Rs.40.00 lakhs from the respondent-bank for running business. He states that out of the said amount, Rs.17,50,00/- was repaid and as default was committed in repayment of the balance loan amount, the respondent-bank issued demand notice dated 23.11.2010 calling upon him to repay an amount of Rs.45,78,350/- within 60 days from the date of receipt of the notice. Since the said amount was not repaid, the respondent-bank issued the impugned possession notice dated 17.05.2011 taking possession of the property in question. Learned counsel for the petitioner states that the petitioner is ready and willing to repay the balance amount if he is granted reasonable time. In the circumstances, we deem it appropriate to dispose of the Writ Petition by granting four weeks’ time from today to the petitioner to repay half of the outstanding amount and the remaining balance in two monthly instalments thereafter. The Writ Petition is, accordingly, disposed of. No order as to costs. GHULAM MOHAMMED,J K.G.SHANKAR,J Dt:09.06.2011 Usd/Jsu