IN THE HIGH COURT OF PUNJAB & HARYANA AT CHANDIGARH Civil Writ Petition No.22031 of 2010 Date of Decision : December 10, 2010. Darmudrit Printing Press .....Petitioner versus Oriental Bank of Commerce and another .....Respondents CORAM : HON'BLE MR.JUSTICE SURYA KANT. Present : Mr.Mukand Gupta, Advocate, for the petitioner. Mr.B.R.Bansal, Advocate, for the respondents. -.- 1. Whether Reporters of Local papers may be allowed to see the judgment? 2. To be referred to the Reporters or not? 3. Whether the judgment should be reported in the Digest? --- Surya Kant, J. (Oral) Notice of motion. On the asking of the Court, Mr.B.R.Bansal, Advocate, accepts notice on behalf of the respondents. In view of the nature of order which I propose to pass, there is no need to seek any counter reply from the respondents at this stage. The petitioner is aggrieved by the Possession Notice dated 2.12.2010 (Annexure P-4) issued by the respondent-bank under Section 13 (4) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as 'the 2002 Act'). C.W.P.No .22031 of 2010 2 At the outset, learned counsel for the petitioner states that the petitioner is willing to discharge the entire loan liability within a period of one year and to show its bonafide, the petitioner will pay Rs.three lacs within a period of one week. Having heard learned counsel for the parties, I am of the considered view that if the respondent-bank finds that the petitioner's offer is reasonable and its acceptance would not harm the Bank's interest, it would be desirable that the offer is considered objectively. The writ petition is accordingly disposed of with a direction to the respondent-bank to consider the petitioner's offer alongwith deposit of Rs.three lacs within a period of one week. If the proposal of the petitioner is worth acceptance, it is directed that locks shall be removed and possession of the `secured assets' of the petitioner shall be handed-over to him subject to fresh terms and conditions to be imposed by the Bank. Ordered accordingly. Meanwhile, auction shall not be confirmed. Dasti. December 10, 2010 (SURYA KANT) Mohinder JUDGE