A. Ramalingeswara Rao, J.

The 3rd accused in FIR No.421 of 2008 on the file of P.S. Begumpet, Hyderabad is the petitioner in this writ petition.

2. As per the averments in the affidavit filed by the petitioner, the 3rd respondent approached the petitioner for education loan to his son for his 2 years study of Diploma in Hotel Management at Geneva, Switzerland. The petitioner sanctioned a loan of Rs. 4,50,000/- on 02.05.2002 and the same was availed by the 3rd respondent and his son as co-borrowers through loan account No.10161741349. The loan amount was secured by equitable mortgage created by the 3rd respondent over his plot No.69 admeasuring 311 square yards situated at Autonagar, Saroornagar Mandal, Ranga Reddy District. Since the borrowers failed to repay the loan, steps were initiated under Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short `SARFAESI Act'). A demand notice under Section 13 (2) of the Act was issued on 02.05.2006 followed by a possession notice on 06.08.2006. Both the notices were published in Hindu and Eenadu on 29.05.2006 and 07.08.2006 respectively. Later on, an auction notice was issued on 22