Bussireddy Subba Reddy, v. The Industrial Development Bank Of India Limited,

HON'BLE SRI JUSTICE A.RAMALINGESWARA RAO W.P.Nos.33661, 33810, & 33565 of 2016 COMMON ORDER All these writ petitions are disposed of by this common order as they relate to a challenge made to the public notice for auction of the turmeric stored by the petitioners at Central Ware Housing Corporation, as a pledge for the loans taken by them from the respondent-Bank.

There is no dispute that all the petitioners took loan from the respondent-Bank and committed default.

As on today, an amount of Rs.16,28,618/-, Rs.17,77,803/- & Rs.17,64,052/- respectively is outstanding and payable by the petitioners to the respondent-Bank. When the respondent-Bank wanted to auction the turmeric pledged, for realization of the amount, these three writ petitions were filed. This Court vide separate orders dated 30.9.2016 granted stay for a period of four weeks on condition of the petitioners depositing a sum of Rs.1,00,000/- each.

Learned counsel appearing for the respondent-bank submits that the petitioners have complied with the said orders and the amount of Rs.1,00,000/- (each) deposited by them is far less than the amount outstanding and payable to the respondent. In the circumstances, the petitioners shall pay the outstanding amount to the respondent-Bank on or before 31.3.2017, failing which, it is open to the respondent-Bank to take

appropriate steps, for realization of the amount, in accordance with law.

Accordingly, the writ petitions are disposed of. No costs. Miscellaneous petitions, if any, pending shall stand closed.

___________________________________ JUSTICE A.RAMALINGESWARA RAO 6th February, 2017 rkk