The petitioners have approached this Court with the following prayers :
i. Issue a writ of Certiorari or any other writ order or direction quashing all proceedings initiated by the petitioners by Exhibits P2, P3, P5 and P8.
ii. Issue a writ of mandamus or other writ or direction commanding the respondents to issue fresh demand after deducting all the remittance already made and applying reduction of rate of interest, if applicable.
iii. Issue a writ of mandamus or other writ or direction commanding the respondents to permit the petitioner to remit the balance amount due from the petitioners on the basis of fresh demand within 6 months.
iv. Grant any other reliefs this Hon'ble Court deemed fit to grant.
v. Grant the cost of this writ petition.
2. The learned counsel for the petitioners submits that Ext. P8 sale notice has been issued without complying with the statutory requirement, particularly the mandate under the relevant Rules.
W.P.(C) No. 31805 of 2014 : 2 :
3. The learned standing counsel appearing for the respondent Bank submits that the second petitioner has come up before the Bank with a proposal to clear the entire liability on or before the 20th of February, 2015. In the said circumstances, Ext.P8 sale notice is not intended to be given effect to and if there occurs any failure on the part of the petitioners in this regard, the Bank will issue fresh sale notice in compliance with the relevant provisions of law.
In the said circumstances, no further orders are necessary. The writ petition is closed, recording the submission of the learned standing counsel for the Bank as aforesaid.
kmd Sd/-
P. R. RAMACHANDRA MENON, (JUDGE)