Sri. Pattaparla Seshi Kiran Goud vs Union Bank Of India
2021 Latest Caselaw 2719 Tel

           HON'BLE SRI JUSTICE A.RAJASHEKER REDDY
                            AND
                HON'BLE JUSTICE G.SRI DEVI

               Writ Petition No.22468 OF 2021

JUDGMENT:(per Hon'ble Sri Justice A.Rajasheker Reddy)

     This writ petition is filed seeking writ of mandamus declaring

the notice dated 07.04.2021 under Section 13(2) of the Section

17 of the Securitization and Reconstruction of Financial Assets

and Enforcement of Security Interest Act, 2002 (For short 'the

Act of 2002') issued by the respondent as illegal and arbitrary.

Heard learned counsel for the petitioners and

Smt.V.Dyumani, learned Standing Counsel for the respondent

Bank.

Learned counsel for the petitioner submits that though the

petitioners have replied to the notice under Section 13(2) of the

Act of 2002 on 26.05.2021, as on today, the respondent Bank

has not given any reply under Section 13(3)(a) of the Act, but it

is proceeding further in the matter. He also submits that the

petitioners are ready to opt for OTS (One Time Settlement)

Scheme and pay the amount. Since the petitioners are running

educational institutions, because of Covid-19, they are unable to

pay the amount. He also submits that during the moratorium

period also, the petitioners have paid certain amounts towards

instalments and that one more representation was given on

08.08.2021, but for that also, the respondent Bank has not

replied.

On the other hand, Smt. V.Dyumani, learned Standing

Counsel for the respondent Bank submits that they have not received any reply on 26.05.2021 as alleged by the petitioners,

but they have only received reply dated 08.08.2021, that too

after lapse of 60 days from the date of issuance of notice under

Section 13(2) of the Act of 2002 and that the Bank will take that

representation into account and proceed further in the matter.

In view of the above facts and circumstances, since the

petitioners have replied to the notice under Section 13(2) of the

Act on 08.08.2021 and petitioners wants to go for OTS scheme,

it is open for the petitioners to make an application within a

period of two weeks from today, for grant of OTS and the Bank

may consider the same in accordance with the scheme, if any, in

accordance with law. The respondent bank shall also consider

the representation dated 08.08.2021 before taking further action

in the matter.

With the above direction, this writ petition is disposed of.

There shall be no order as to costs. As a sequel thereto,

miscellaneous petitions, if any, pending in this Writ Petition, shall

stand closed.

_________________________ A.RAJASHEKER REDDY, J

______________ G. SRI DEVI, J Date:22.09.2021 kvs HON'BLE SRI JUSTICE A.RAJASHEKER REDDY AND HON'BLE JUSTICE G.SRI DEVI

Writ Petition No.22468 OF 2021

Date: 22.09.2021

kvs