JUDGMENT

U. Durga Prasad Rao, J. - The challenge in this writ petition at the instance of petitioners / borrowers is the following order dated 24.09.2021 in S.A.No.227/2018 passed by the Presiding Officer, Debts Recovery Tribunal, Visakhapatnam (for short, the DRT, VSP'):

'Therefore, considering the facts and circumstances of the case and in view of the Not Press Memo filed by the applicant to settle the matter under OTS, the present SA No.227 of 2018 along with IA.972/2018 is dismissed as not pressed and the applicant is at liberty to approach the respondent bank for settlement of the loan account under OTS and the respondent bank may accept the OTS proposal in accordance with its guidelines to settle the accounts with respect to other properties except item No.1 of schedule mentioned property because it is sold to auction purchaser in e-auction conducted by the respondent bank on 1.12.2018. However, since the bank has conducted e-auction on 1.12.2018 wherein M/s. Heritage Foods Limited has become successful bidder in respect of item No.1 of the SA schedule property and in view of dismissal of SA.227/2018 and IA.972/2018 (stay petition), the respondent bank can take steps to registe