ORDER :

This Writ Petition is filed to declare the letter No. SARB: HYD: PMR:MAB 21-22-335, dated 31.07.2021 and letter No. SARB: HYD: PMR:MAB: 21-22:350, dated 06.08.2021, issued by 2nd respondent as illegal and contrary to the SBI OTS 2020 Circular dated 12.10.2020 and OTS sanction letter Ref.No.1149, dated 27.11.2020 and consequently set aside the said letters and direct 2nd respondent to receive the cheque bearing No.141267, dated 27.07.2021 drawn on Axis Bank Limited, Masab Tank, Hyderabad for Rs.37,87,567/- submitted by the petitioner to 2nd respondent bank on 28.07.2021 as compliance of the final installment pursuant to above said OTS sanction letter dated 27.11.2020, and close the loan Account vide A/c.No.35424522518.

2. Heard Sri E. Madan Mohan Rao, learned Senior Counsel representing Sri M. Srinivas, learned counsel for the petitioner and Sri Mettu Srinivas Reddy, learned standing counsel for the respondent - Bank. Perused the record.

3. The petitioner herein is in real estate business. He constructs flats and sell the same to the prospective purchasers. During the course of business, he had obtained loan facility of Rs.1.55 Crores from 2nd respondent – Bank vide A/c.No.3542