C.W.P. No.5889 of 2009 -1- IN THE HIGH COURT FOR THE STATES OF PUNJAB AND HARYANA AT CHANDIGARH C.W.P. No.5889 of 2009 (O&M) Date of Decision: 06.01.2010 Lalit Goura ....Petitioner Versus Punjab and Sind Bank, Batala Branch ....Respondent Present: Mr. N.K. Verma, Advocate for the petitioner. Mr. A.B.S. Sidhu, Advocate for the respondent. CORAM:HON'BLE MR. JUSTICE K. KANNAN 1. Whether Reporters of local papers may be allowed to see the judgment ? No 2. To be referred to the Reporters or not ? No 3. Whether the judgment should be reported in the Digest? No -.- K. KANNAN J.(ORAL) 1. The petitioner has challenged the issuance of notice under the Securitization & Reconstruction of Financial Assets & Enforcement of Security Interest Act, 2002. On the day when the matter was brought for first hearing on 21.04.2009, the petitioner has given an undertaking that he will have the entire loan paid within a period of six months. This Hon'ble Court has granted a stay subject to petitioner depositing Rs.50,000/- within two weeks. It appears that the amount of Rs.50,000/- was not deposited within the stipulated time, but later deposited in December, 2009. The petitioner is prepared to pay another C.W.P. No.5889 of 2009 -2- installment of Rs.50,000/- today (through bank drafts bearing No.10745 dated 17.12.2009 amounting Rs.40,000/- and 1830 dated 04.01.2010 amounting Rs.10,000/-). The demand drafts are directed to be received by the respondent. The petitioner also states that he would pay off the entire arrears if a statement of account is given to him. The petitioner shall have further period of one month from the date of statement of account is given when the whole amount shall be paid. If the amount is not paid as demanded, the proceedings already initiated will commence and the petitioner will also render himself liable for an additional costs of Rs.10,000/-. 2. Subject only to the strict compliance of the undertaking given by the petitioner, the writ petition is disposed of forbearing the respondent from taking any action. (K. KANNAN) JUDGE January 06, 2010 Pankaj*