{"id":77192,"date":"2009-10-23T00:00:00","date_gmt":"2009-10-22T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/ms-devinder-shoe-store-and-vs-state-bank-of-india-and-others-on-23-october-2009"},"modified":"2015-11-03T01:14:29","modified_gmt":"2015-11-02T19:44:29","slug":"ms-devinder-shoe-store-and-vs-state-bank-of-india-and-others-on-23-october-2009","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/ms-devinder-shoe-store-and-vs-state-bank-of-india-and-others-on-23-october-2009","title":{"rendered":"M\/S Devinder Shoe Store And &#8230; vs State Bank Of India And Others on 23 October, 2009"},"content":{"rendered":"<div class=\"docsource_main\">Punjab-Haryana High Court<\/div>\n<div class=\"doc_title\">M\/S Devinder Shoe Store And &#8230; vs State Bank Of India And Others on 23 October, 2009<\/div>\n<pre>Civil Writ Petition No.12624 of 2009 (O&amp;M)                           1\n\n\n\n\n      In the High Court of Punjab and Haryana, at Chandigarh.\n\n\n                Civil Writ Petition No.12624 of 2009 (O&amp;M)\n\n                      Date of Decision: 23.10.2009\n\n\nM\/s Devinder Shoe Store and Another\n                                                            ...Petitioners\n                                   Versus\nState Bank of India and Others\n                                                         ...Respondents\n\n\nCORAM: HON'BLE MR. JUSTICE KANWALJIT SINGH AHLUWALIA.\n\n\nPresent: Mr. Amar Vivek and Ms. Jyoti Sareen, Advocates\n         for the petitioners.\n\n           Mr. Yogesh Jain, Advocate\n           for the respondents.\n\nKanwaljit Singh Ahluwalia, J. (Oral)\n<\/pre>\n<p>Civil Misc. No. 17473 of 2009<\/p>\n<p>           Civil Misc. Application is allowed. Replication along with<\/p>\n<p>Annexures P14 to P16 is taken on record.<\/p>\n<p>Civil Misc. No. 17474 of 2009<\/p>\n<p>           Exemption from filing of certified copy of Annexure P14 is<\/p>\n<p>granted.\n<\/p>\n<p>           Civil Misc. Application is disposed of.<\/p>\n<p>Civil Writ Petition No. 12624 of 2009<\/p>\n<p>           Counsel for the petitioners have drawn attention of this Court<\/p>\n<p>to Annexure P15 issued by the Bank on 31.8.2009. The conditions<\/p>\n<p>specified in the letter read as under:-<br \/>\n<span class=\"hidden_text\"> Civil Writ Petition No.12624 of 2009 (O&amp;M)                                 2<\/span><\/p>\n<pre>                  XXX       XXX       XXX          XXX       XXX           XX\n\n                  \"i)       Application     to     be    received     before\n\n<\/pre>\n<p>                            30..09.2009 and settlement to be reached<\/p>\n<p>                            before 31.09.2009;\n<\/p>\n<p>                  ii)       Minimum amount to be paid Rs.283870.00<\/p>\n<p>                            (being the outstanding balance in your<\/p>\n<p>                            account as on the date it was categorized<\/p>\n<p>                            as Doubtful NPA).\n<\/p>\n<p>                  iii)      Payment       terms:    Minimum         5%     on<\/p>\n<p>                            application     and    remaining     dues      on<\/p>\n<p>                            settlement in one lump sum, upfront<\/p>\n<p>                            Payment       instalments    would      also   be<\/p>\n<p>                            considered on merits, subject to at least<\/p>\n<p>                            25% of the amount of settlement being<\/p>\n<p>                            paid within 30 days and the balance of<\/p>\n<p>                            75% being paid instalments within six<\/p>\n<p>                            months, but not later than 31.03.2010<\/p>\n<p>                            together with interest at Bank&#8217;s PLR from<\/p>\n<p>                            the date of settlement till date of final<\/p>\n<p>                            payment&#8221;.\n<\/p>\n<p>                  XXX       XXX       XXX          XXX       XXX           XX<\/p>\n<p>         Counsel for the parties are in agreement that in pursuance of<\/p>\n<p>Scheme, 5% amount of the application has been paid and petitioner is<\/p>\n<p>liable to pay 25% of the amount of settlement within 30 days<\/p>\n<p>commencing from today.\n<\/p>\n<p>         Mr. Amar Vivek, Advocate, has made a statement that in<br \/>\n<span class=\"hidden_text\"> Civil Writ Petition No.12624 of 2009 (O&amp;M)                           3<\/span><\/p>\n<p>consonance with the demand raised by the respondents in Annexure<\/p>\n<p>P15, 25% of the amount prescribed will be paid to the Bank on or before<\/p>\n<p>23.11.2009. Mr. Vivek further states that the petitioner will adhere to<\/p>\n<p>payment of balance 75% in instalments within six months but not later<\/p>\n<p>than 31.3.2010.\n<\/p>\n<p>           Counsel for the respondents stated that Bank has no objection<\/p>\n<p>and the property of the petitioner shall be released in their favour and<\/p>\n<p>the mortgage will redeemed in case the arrangement mentioned in<\/p>\n<p>Annexure P15 is followed by the petitioners. Counsel further states that<\/p>\n<p>in case of any default on the part of the petitioner, the respondent-Bank<\/p>\n<p>will be free to proceed in accordance with the provisions of law.<\/p>\n<p>           The present writ petition is disposed of with the observation<\/p>\n<p>that parties shall remain bound by the statements made by their<\/p>\n<p>counsel.\n<\/p>\n<\/p>\n<p>                                            (Kanwaljit Singh Ahluwalia)<br \/>\n                                                                 Judge<br \/>\nOctober 23, 2009<br \/>\n&#8220;DK&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Punjab-Haryana High Court M\/S Devinder Shoe Store And &#8230; vs State Bank Of India And Others on 23 October, 2009 Civil Writ Petition No.12624 of 2009 (O&amp;M) 1 In the High Court of Punjab and Haryana, at Chandigarh. Civil Writ Petition No.12624 of 2009 (O&amp;M) Date of Decision: 23.10.2009 M\/s Devinder Shoe Store and Another [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8,28],"tags":[],"class_list":["post-77192","post","type-post","status-publish","format-standard","hentry","category-high-court","category-punjab-haryana-high-court"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>M\/S Devinder Shoe Store And ... vs State Bank Of India And Others on 23 October, 2009 - Free Judgements of Supreme Court &amp; High Court | Legal India<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.legalindia.com\/judgments\/ms-devinder-shoe-store-and-vs-state-bank-of-india-and-others-on-23-october-2009\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"M\/S Devinder Shoe Store And ... vs State Bank Of India And Others on 23 October, 2009 - Free Judgements of Supreme Court &amp; 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