BHADRAKALI INDUSTRIES Vs. STATE BANK OF INDIA
HIGH COURT OF ANDHRA PRADESH
STATE BANK OF INDIA
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V. Ramasubramanian, J. -
(1.)The petitioner has come up with the above writ petitions seeking a direction in the first writ petition to the respondents to receive the demand drafts taken by the petitioner towards full payment of the amounts specified in a One-Time Settlement (OTS) offer and seeking a direction in the second writ petition to the respondents to return the title deeds in respect of the property which was offered as security for the due repayment of the loans.
(2.)Heard Mr. A. Prabhakar Rao, learned counsel for the petitioner and Mr. A. Krishnam Raju, learned counsel for the respondent bank.
(3.)It appears that the petitioner is a partnership firm which availed credit facilities from the respondent bank and committed default in repayment of the amounts due. The account was classified as a Non-Performing Asset and measures were taken by the bank for the recovery of the amounts due.
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