THE HON'BLE SRI JUSTICE GHULAM MOHAMMED AND THE HON’BLE SRI JUSTICE K.G.SHANKAR W.P.No.8542 of 2011 ORDER (per Sri Ghulam Mohammed, J) The petitioners having availed house loan facility from the respondent Bank failed to repay the same. Hence, the respondent Bank issued notices dated 25.05.2010 and 24.08.2010, under Sections 13(2) and 13(4) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short ‘the Act’), and also the sale notice dated 24.11.2010, proposing to sell the property in question. Challenging the sale notice, the petitioners filed the present writ petition. 2. Learned counsel for the petitioners submitted that the petitioners are ready to pay the entire liability, if time granted to them and that there may be a direction to the respondent Bank not to proceed with the auction. 3. Learned Standing Counsel for the respondent Bank submitted that the amount due and payable by the petitioners as on 30.04.2010 is Rs.48,40,130/-. 4. Taking into consideration the submission of the learned counsel for the petitioners that the petitioners are ready to pay the entire liability and as agreed by the learned Standing Counsel for the respondent Bank, we deem it appropriate to stay all further proceedings pursuant to the sale notice dated 24.11.2010, on condition of the petitioners paying half of the loan amount in respect of the loan availed by them within one month from today and the remaining amount shall be paid by them within one month thereafter to the satisfaction of the respondent Bank, in default, the respondent-Bank is at liberty to proceed further in accordance with law. 5. To the extent indicated above, the Writ Petition is disposed of. No costs. ______________________ GHULAM MOHAMMED, J _______________ K.G.SHANKAR, J Date:30.03.2011 sj