S. MANIKUMAR, J.

Material on record discloses that M/s. Hotel Milestonnez India Private Limited, No.34 Santhavelur, Sunguvarchatram Post, Sriperumbudur, Kancheepuram District, has availed loan for a sum of Rs.10 crores, as term loan and Rs.1 crore as cash credit facility, from State Bank of India, Chennai. On 17/6/2013, State Bank of India, Industrial Finance Branch, Chennai, has sanctioned a Corporate Term loan of Rs.5,25,00,000/-. Yet another sum of Rs.1,30,00,000/- has been sanctioned as term loan.

2. Petitioner has committed default. Bank has issued a Demand Notice, dated 20th January 2015, under Section 13 (2) of the SARFAESI Act, 2002, demanding a sum of Rs.12,06,18,484.26, with further interest and incidental expenses and costs to be paid, within sixty days, from the date of payment, failing which appropriate action would be taken, under the provisions of the SARFAESI Act, 2002.

3. Possession notice, dated 7/9/2015, under Section 13 (4) of the SARFAESI Act, 2002, issued to the petitioner, has been acknowledged. Petitioner seemed to have made representation, to the Bank, for One Time Settlement and that the same has been accepted by the Bank, vide, letter, dated 12/9/2017, by which, One Time Settlement amount has been determined as Rs.8,22,04,723/-.

4. Thereafter, Bank, vide, letter, dated 6/12/2017, acknowledged the application money of Rs.54,00,315/-, paid by the petitioner and also a further sum of Rs.1,12,00,059/-, representing 20% of the One Time Settlement amount, less application money. Vide, letter, dated 6/12/2017, Bank has informed the petitioner that they would be eligible for an additional incentive of 10% discount, on the One Time Settlement amount, on making payment of remaining OTS amount of Rs.6,62,04,349/-, on or before 31/12/2017. Bank has clarified that the petitioner has to pay Rs.5,79,23,877/-, towards full and final settlement of the petitioner's dues, under the scheme, if the petitioner intends to make payment on or before 31/12/2017.

5. Responding to the request for extension of time, received by the Bank, on 17/4/2018, Bank has informed the petitioner that dues to be cleared on or before 27/4/2018 and requested the petitioner to make the payment, as per the scheme. Bank has expressed its inability to extend the time, as requested by the petitioner. Hence instant writ petition has been filed for a mandamus, directing the Bank to extend time by eight weeks on payment of 12% interest p.a., for the balance amount of Rs.5,79,23,877/-.

6. Record of proceeding shows that on 10/5/2018, Mr.K.Balamurali learned counsel for the respondent Bank has taken notice.

7. On this day, when the matter came up for further hearing, Mr.S.Jayakumar, learned counsel for the petitioner made submissions, in support of the prayer sought for. In addition to the above, he submitted that as per the RBI Guidelines, Bank has obligated to extend time for One Time Proposal.

8. Responding to the above submissions and inviting the attention of this Court to the various writ petitions filed by M/s. Hotel Milestonnex India Private Ltd.,/borrower, Mr.K.Balamurali, learned counsel for the bank submitted that at every stage of the proceedings initiated under the SARFAESI Act, 2002, petitioner/borrower has filed writ petitions and made attempts to protract/stall the proceedings.

9. Placing reliance on a letter, dated 30/4/2018, addressed to the petitioner, learned counsel for the Bank submitted that inasmuch as the offer of OTS proposal itself has been cancelled, the question of issuing mandamus, does not arise. He also submitted that there is no bona fide on part of the petitioner.

10. When attention of the learned counsel for the petitioner was invited to the letter, dated 30/4/2018 and when this Court, observed that the prayer for mandamus does not survive, learned counsel for the petitioner sought permission to withdraw the writ petition.

11. Heard the learned counsel appearing for both parties.

12. Perusal of the orders made in the writ p