M/S Sai Kanthi Enterprises, v. Bank Of India, (A Nationalized Bank Constituted

THE HON'BLE SRI JUSTICE NOOTY RAMAMOHANA RAO AND THE HON'BLE Dr. JUSTICE B.SIVA SANKARA RAO WRIT PETITION No.41947 of 2015 ORDER: (per Hon'ble Sri Justice Nooty Ramamohana Rao) Heard Sri V. Ravi Kiran Rao, learned counsel for the petitioner, and Ms. T. Vidya Rani, learned Standing Counsel for the respondentBank.

2. Learned counsel for the petitioner would submit that though the petitioner has failed to comply with the order passed by this Court on 23.12.2015 and as extended by this Court on 27.01.2016 and 26.02.2016, he is very much anxious to liquidate the debt and, for which purpose, he has offered gracefully certain terms for settling the loan account under One-time Settlement Scheme (OTS) and the respondent-bank is yet to respond.

3. In the given facts and circumstances, it is open to the respondent-bank to entertain any such OTS offer and, if the terms of such settlement are fairly attractive, to accept the same and take necessary action to workout the same.

4. Hence, the writ petition stands disposed of leaving it open to the petitioner to pursue the remedies available to him under law. No order as to costs.

5. As a sequel, miscellaneous petitions pending, if any, shall stand closed.

_____________________________________ JUSTICE NOOTY RAMAMOHANA RAO ____________________________________ Dr. JUSTICE B.SIVA SANKARA RAO 12.04.2016 Msr THE HON'BLE SRI JUSTICE NOOTY RAMAMOHANA RAO

AND THE HON'BLE Dr. JUSTICE B.SIVA SANKARA RAO WRIT PETITION No.41947 of 2015 12.04.2016 Msr