Komarabattini Nageswara Rao v. The Authorised Officer

* HON'BLE SRI JUSTICE V.RAMASUBRAMANIAN + Writ Petition No.40782 of 2018 % Date: 13-11-2018 # Komarabattini Nageswara Rao S/o Narsaiah, Aged 46 years, Occ: Business, R/o Flat No.402, Jahanvi Heights, New P & T Colony, Road No.2, Patamata, Vijayawada, Krishna District, Andhra Pradesh State ... Petitioner Vs.

$ The Authorised Officer, Coastal Local Area Bank Ltd., Kanuru, Vijayawada, Krishna District, Andhra Pradesh State ... Respondent ! Counsel for Petitioner:

Mr. Kothapalli Hari Krishna Counsel for Respondent:

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> Head Note:

? Cases referred:

Nil.

HON'BLE SRI JUSTICE V.RAMASUBRAMANIAN Writ Petition No.40782 of 2018 Order: (per V.Ramasubramanian, J.) The petitioner has come up with the above writ petition challenging a possession notice under Section 13(4) of the Securitisation Act, 2002.

2. Heard Mr. Kothapalli Hari Krishna, learned counsel for the petitioner.

3. The main contention of the petitioner is that after the receipt of the demand notice, he paid a huge amount and that even now he is prepared to settle the entire dues within three months. If this is so, the best course of action open to the petitioner is to go before the Debts Recovery Tribunal and make the same prayer.

4. Therefore, with the above liberty, the writ petition is dismissed. Pending applications, if any, shall stand closed. No costs.

___________________________ V.RAMASUBRAMANIAN, J.

_______________ J.UMA DEVI, J.

13th November, 2018.

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HON'BLE SRI JUSTICE V.RAMASUBRAMANIAN Writ Petition No.40782 of 2018 (per VRS, J.) 13th November, 2018.

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