Sri. M. Venkata Appa Rao v. State Bank Of India

THE HON'BLE SRI JUSTI CE V. RAMASUBRAMANI AN & THE HON'BLE SRI JUSTI CE ABHI NAND KUMAR SHAVI LI W RI T PETI TI ON No.3 8 6 9 of 2 0 1 9 ORDER: (Per Hon'ble Sri Justice V. Ramasubramanian) Heard Mr. D. Raghavulu, learned counsel for the petitioner. Mr. Meher Prasad, learned standing counsel, takes notice for the respondent.

2.

The Debts Recovery Tribunal, by the order impugned in the writ petition, granted a limited protection in respect of auction sale of the properties, by imposing two conditions. The petitioner claims to have complied with the first condition by making payment of 10% of the demand within one week. The second installment of 15% has to be paid within two weeks of payment of first installment. The petitioner could not comply with the same and hence, they have come up with the above writ petition seeking extension of time. 3.

Considering the fact that the petitioner has complied with the first part of the condition within one week, some leverage can be granted to the petitioner. Therefore, the petitioner is granted time up to 25.03.2019 to make payment of the second installment as ordered by the tribunal. If the petitioner fails to comply with the above condition, the stay will stand automatically vacated. The writ petition is disposed of. Consequently, pending miscellaneous applications, if any, shall stand closed. There shall be no order as to costs.

_____________________ V. RAMASUBRAMANIAN, J ________________________ ABHINAND KUMAR SHAVILI, J February 26, 2019/ DSK