THE HON'BLE SRI JUSTICE GHULAM MOHAMMED and THE HON'BLE SRI JUSTICE K.G.SHANKAR WRIT PETITION No.18818 of 2011 ORDER: (per Hon’ble Sri Justice Ghulam Mohammed) The petitioners’ availed loan of Rs.13.75 lakhs from the respondent-bank. They committed default in repayment of the loan amount resulting in the bank issuing notice dated 06.01.2010, under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short ‘the Act’) and possession notice dated 16.11.2010, under Section 13(4) of the Act, demanding a sum of Rs.16,75,503/-. Against which, the petitioners filed S.A.No.247 of 2010 along with stay petition in I.A.No.674 of 2010 before the Debts Recovery Tribunal, Visakhapatnam. By order dated 06.12.2010, the Tribunal while directing the petitioners to pay a sum of Rs.3.00 lakhs on or before 08.01.2011, directed the bank not to proceed further till 10.01.2011, in default, to proceed in accordance with law. The petitioners state that, since they failed to comply with the order of the Tribunal, the bank had filed CRL.MP.No.257 of 2006 before the Court of Chief Metropolitan Magistrate, Visakhapatnam, praying to take possession of the schedule property and to deliver the same to them. The learned Magistrate, by order dated 18.03.2011, issued delivery warrant. The petitioners filed this Writ Petition seeking extension of time to comply with the order of the Tribunal dated 06.12.2010 passed in I.A.No.674 of 2010 in S.A.No.247 of 2010. Sri T.P.Acharya, learned Counsel for the petitioners, would submit that this Court may grant some reasonable time to comply with the order of the Tribunal. Since the matter is pending before the Debts Recovery Tribunal, Visakhapatnam, it is but appropriate for the petitioners to file an application before the Tribunal itself seeking extension of time to comply with the order dated 06.12.2010. However, the petitioners cannot be permitted to pursue parallel remedies. The Writ Petition fails and is, accordingly, dismissed. In the circumstances without costs. GHULAM MOHAMMED,J K.G.SHANKAR,J Dt:06.07.2011 Usd