IN THE HIGH COURT OF PUNJAB AND HARYANA AT
CHANDIGARH
Civil Writ Petition No.10296 of 2009
Date of Decision: 12.08.2009
M/s Guru Gobind Industries
Petitioner
Versus
State Bank of Patiala and another
Respondents
CORAM:- HON'BLE MR. JUSTICE JASBIR SINGH
Present: Mr.S.S.Kamboj, Advocate for the petitioner
Mr.Vikas Chatrath, Advocate
.....
Jasbir Singh, J.
C.M. No.13451 of 2009
Application allowed, written statement is taken on record.
CWP No.10296 of 2009
This writ petition has been filed to lay challenge to the notice
issued by the respondent-Bank under Section 13(4) of the Securitization and
Reconstruction of Financial Assets and Enforcement of Security Interest
Act, 2002. On 15.7.2009, when notice of motion was issued, it was
observed as under:-
“By filing this writ petition, petitioner has laid challenge
to notice issued by the respondent Bank under Section 13(4) of
the Securitization and Reconstruction of Financial Assets and
Enforcement of Security Interest Act, 2002. Counsel for the
petitioner states that the petitioner is interested in saving its
property. To show its bonafide, the petitioner is ready to
deposit an amount of Rs.4,00,000/- with the respondent- Bank
within a period of three weeks from today and remaining
amount shall be paid within 6 to 9 months, as per the payment
schedule fixed by the respondent- Bank.
Civil Writ Petition No.10296 of 2009 2
Notice of motion for August 12, 2009. The respondent –
Bank is restrained from taking any further coercive action
against the petitioner till the next date of hearing. It is made
clear that if the petitioner fails to deposit the money, as
undertaken today in Court, this writ petition shall be
dismissed.”
Counsel for the petitioner states that the petitioner has failed to
deposit the amount, as undertaken by the petitioner on 15.7.2009. This fact
demonstrates that the petitioner has no intention to repay the loan amount.
Otherwise also, this writ petition is not maintainable as remedy of appeal is
available under the Act.
Dismissed.
Registry is directed to send a copy of this order to respondent
Nos.1 and 2.
12.08.2009 (Jasbir Singh) gk Judge