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 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 2