IN THE HIGH COURT FOR THE STATES OF PUNJAB AND HARYANA AT CHANDIGARH. Civil Misc. No. 6018 of 2009 and C.W.P. No. 594 of 2009. Date of Decision: 20th April, 2009. M/s Kartar Singh Oil Company & Ors. Petitioner through Mr. Rohit Suri, Advocate Versus State Bank of Patiala & Anr. ...Respondents through Mr. D.K.Singhal, Advocate. Mr. G.S.Atttariwala, Addl.AG, Punjab. CORAM: HON'BLE MR. JUSTICE SURYA KANT. 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) The petitioners seek quashing of the notice and consequential action taken against them under Section 13 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. On 14th January, 2009, the following order was passed:- “Learned counsel for the petitioners submits that they are willing and ready to settle the accounts with the respondents and that they will deposit a sum of Rs.10 lakhs within a period of one month from today and another sum of Rs.10 lakhs within 45 days of the deposit of the initial amount of Rs.10 lakhs. Notice of motion for 20.4.2009. In the meantime, the auction shall remain in abeyance. It is made clear that in case the petitioners do not deposit the aforesaid amounts within the stipulated period, the benefit of this order shall not be available to them and the auction shall be held instantaneously. One of the petitioner is present in Court and he has been made to understand the consequences of the undertaking which he has given today”. Learned counsel for the respondent Bank submits that the petitioners have failed to honour the undertaking given before this Court and no amount has been deposited them. An affidavit to this effect has also been filed by the Chief Manager of the Bank along with a civil misc. application. In this view of the matter, when the petitioners have failed to honour their undertaking, no case to interfere with the impugned proceedings initiated under the 2002 Act is made out. Dismissed. April 20, 2009. ( SURYA KANT ) dinesh JUDGE