Kanwar Narinder Singh vs The Authorized Officer on 25 February, 2009

IN THE HIGH COURT FOR THE STATES OF PUNJAB AND
               HARYANA AT CHANDIGARH.

                        C.W.P. No. 2138 of 2009.
                        Date of Decision: 25th February, 2009.
Kanwar Narinder Singh         Petitioner
                              through
                              Mr. Amit Rawal, Advocate

           Versus

The Authorized Officer, Syndicate Bank & Ors. ..Respondents

through
Mr. I.P.Singh, Advocate.

CORAM:

HON’BLE MR. JUSTICE SURYA KANT.

1. Whether Reporters of local papers may be allowed to see the judgment?

2. To be referred to the Reporters or not?

3. Whether the judgment should be reported in the Digest?

SURYA KANT, J. [ORAL)

Learned counsel for the petitioner submits that in

deference to the order dated 19.2.2009, a request was made before

the Debts Recovery Tribunal, Chandigarh to decide the recovery

suits filed by the respondent Bank to the extent of admission of claim

by the petitioner. It is pointed out that the Tribunal has already heard

the matter and judgment has been reserved.

Learned counsel for the petitioner submits that he has no

objection if the amount of Rs.15 lacs lying in the Sundry Account is

adjusted by the Bank towards the loan liability. He also undertakes

that the petitioner shall deposit a sum of Rs.10 lacs with the Bank not

later than two weeks, followed by payment of the balance principal

suit amount by 31.3.2009.

In the light of the subsequent events noticed above and

keeping in view the willingness of the petitioner to discharge the loan
liability, the respondent is directed to keep in abeyance the

proceedings under Section 13[2] of the Securitization and

Reconstruction of Financial Assets and Enforcement of Security

Interest Act, 2002.

Disposed of.

Dasti.

February 25, 2009.                       ( SURYA KANT )
dinesh                                       JUDGE