C.W.P NO. 7176 OF 2007 -1- IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH C.W.P NO. 7176 OF 2007 DECIDED ON : 27.05.2009 Mutual Pharmaceuticals and others ...Petitioners versus Canara Bank and another ...Respondents CORAM : HON'BLE MR. JUSTICE SURYA KANT Present : Mr. Surinder Garg, Advocate, for the petitioners. Ms. Kanchan Sehgal, Advocate, for the respondents. SURYA KANT, J. (ORAL) The challenge in this writ petition is to the possession- notice dated 16.04.2007 issued by the respondent-Bank under Section 13 (2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. Shorn of the details, it may be noticed here that during the pendency of the writ petition, the parties have arrived at One Time Settlement on 13.05.2008 and in deference thereto, the petitioner has deposited a sum of Rs.9,50,000/- against the agreed amount of Rs.8,50,000/-. On receipt thereof, as pointed out by learned counsel for the respondent-Bank, the case has been sent to the Competent Authority for necessary approval. C.W.P NO. 7176 OF 2007 -2- In this view of the matter, the writ petition is disposed of with a direction to the Competent Authority to take a final decision to accord approval, as early as possible and preferably within one month so that the petitioner's shop which is stated to be lying locked, can be re-opened. Disposed of. Let a copy of this order be given dasti on payment of usual charges. MAY 27, 2009 (SURYA KANT) shalini JUDGE