Telangana High Court
WP/27460/2005 of Goli Upender Reddy, Vs The Zonal Manager, State Bank of Hyderabad, on 26 December 2005
SRI JUSTICE V.ESWARAIAH W.P.NO.27460 OF 2005 Dt.26.12.2005 Between: Goli Upender Reddy … Petitioner And The Zonal Manager, State Bank of Hyderabad, Hyderabad and 2 others. … Respondents ORDER: Heard the learned counsel for the petitioner. It is stated that the petitioner
THE HON’BLE SRI JUSTICE V.ESWARAIAH
W.P.NO.27460 OF 2005
Dt.26.12.2005
Between:
Goli Upender Reddy … Petitioner
And
The Zonal Manager, State Bank of Hyderabad,Hyderabad and 2 others. … Respondents
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ORDER:
Heard the learned counsel for the petitioner.
It is stated that the petitioner availed a loan of Rs.3,00,000/- from the3[rd] respondent bank by crating an equitable mortgage of his houseproperty bearing H.No.3-6-160 situated at Meena Nagar, Bongir,Nalgonda District. It is further stated that on the request of thepetitioner the 3[rd] respondent bank has sanctioned instalments to paythe loan amount at the rate of Rs.6000/- instead of Rs.3000/- permonth. But the same could not be paid. The 3[rd] respondent bank hasinitiated proceedings under Section 13(2) of the Securitisation andReconstruction of Financial Assets and Enforcement of SecuritiesInterest Act, 2002 (for short ‘the Act’) giving 60 days time for paymentof the said amount and notice under Section 13(4) of the Act also hasbeen issued which is an appelable order.
In view of the right of appeal available under Section 17 of the Act, Iam not inclined to admit the writ petition. The writ petition isaccordingly dismissed with liberty to the petitioner to file an appealbefore the Debts Recovery Tribunal. No costs.
_________________ (V.ESWARAIAH, J.)
26.12.2005
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