NANDALA SHIVA CHANDRA PRASAD Vs. LAKSHMI VILAS BANK

JUDGEMENT

(1.) Challenging a condition imposed by the Debts Recovery Tribunal for the grant of stay of dispossession, the borrowers have come up with the above writ petition.

(2.) Heard Mr. T. Nagender, learned counsel for the petitioner and Mr. Maruthi Jadav, learned counsel for the respondent Bank.

(3.) As per the possession notice issued by the Bank, the petitioners became due and liable to pay a sum of Rs.12,93,361-50 ps., as on 01.01.2018. Taking into account the same, the Tribunal granted a conditional order of stay of dispossession on 11.02.2019. The operative portion of the order of the Tribunal reads as follows: