ORDER :

Ujjal Bhuyan, J.

By filing this writ petition under Article 226 of the Constitution of India, petitioners seek quashing of order dated 09.01.2019 passed by the Debts Recovery Tribunal – I, Hyderabad, in S.A.No.190 of 2016 and consequently to allow the said securitization application of the petitioners.

2. Petitioners are mother and son respectively. Petitioner No.1 is the wife of late Rajeshwar Reddy, whereas petitioner No.2 is the son of late Rajeshwar Reddy.

3. From the materials on record, it appears that State Bank of India, Nizamabad Main Branch, Nizamabad, had sanctioned loan of Rs.25,92,500-00 to the petitioners against security provided by the petitioners by way of equitable mortgage over the schedule property. It further appears that petitioners defaulted in repayment of loan on account of various reasons for which petitioners requested respondent State Bank of India for settlement of the liabilities under one time settlement (OTS) scheme. During the course of negotiations respondent Bank had issued notice to the petitioners for regularization of the loan account, pursuant to which petitioners had paid certain amounts on five different occasions towards regularization