HON’BLE SRI JUSTICE ASHUTOSH MOHUNTA AND HON’BLE SRI JUSTICE M. SATYANARAYANA MURTHY WRIT PETITION No. 13800 of 2014 Dated: 29.04.2014 Between:
Sri Akkina Ravindera …..Petitioner And The State Bank of India, Rep. by its Authorized Officer, Thanuku Branch, West Godavari District and five others.
....Respondents The Court made the following :
HON’BLE SRI JUSTICE ASHUTOSH MOHUNTA AND HON’BLE SRI JUSTICE M. SATYANARAYANA MURTHY WRIT PETITION No. 13800 of 2014 ORDER : (per Hon'ble Sri Justice Ashutosh Mohunta) This writ petition is filed under Article 226 of the Constitution of the India, seeking to direct the respondent No.1-Bank to hand over the residential property i.e., Madras Terraced ground floor and RCC first floor building with title verandah adjacent to terraced building West Godavari District, Tanuku Mandal, Tanuku Sub Registry, Tanuku Municipality, Ward No.10 (old), 18 (new) with D.No.34-124 in Sajjapuram old assessment No.4104 (old), 4881 (new) to the petitioner.
2. Learned counsel for the petitioner submits that the secured assets of the petitioner have been scheduled to be auctioned today and that the petitioner is ready to pay an amount of Rs.1,00,000/-, within a period of four weeks and further undertakes to pay the balance amount in three equal monthly installments. He further submits that the auction may go on, however, the confirmation be stayed.
3. Learned counsel for the respondents submits that the petitioner had earlier filed W.P.No.23001 of 2013, wherein time was granted to the petitioner to deposit the outstanding amount, but he failed to deposit the same.
4. Keeping in view of the facts and circumstances of the case, we direct the petitioner to deposit a sum of Rs.1,00,000/- (Rupees one lakh only) on or before 30.05.2014 and the balance amount shall be paid in three equal monthly instalments, commencing from 30.06.2014. In default of payment of any one of the instalments, the respondent-Bank is at liberty to confirm the auction. In the meantime, the auction, which is scheduled to be held today, may go on. However, the same shall not be confirmed.
5. With the above direction, the writ petition is disposed of. No order as to costs.
6. Miscellaneous Petitions, if any, pending in this Writ Petition shall stand closed.
ASHUTOSH MOHUNTA, J M. SATYANARAYANA MURTHY, J 29th April 2014.
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