CWP No.15877 of 2010.doc - 1 – HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH **** CWP No.15877 of 2010 (O&M) Date of Decision: 20.12.2010 **** Jasbir Kaur . . . . Petitioner VS. State Bank of Patiala & Ors. . . . . . Respondents **** 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? **** Present: Mr. Harkesh Manuja, Advocate for the petitioner Mr. Vikas Chatrath, Advocate for the respondents ***** SURYA KANT J. (ORAL) (1). The petitioner is aggrieved by the action taken under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (in short, ‘the Act’). (2). On 07.09.2010 it was stated on behalf of the petitioner that given some reasonable time, she is willing to deposit the entire balance loan amount in three equal instalments. In compliance thereto, she has deposited `5,62,500/-. (3). Counsel for the respondent-Bank however states that an amount of `2,53,036.33 is still recoverable from the petitioner mainly towards interest. CWP No.15877 of 2010.doc - 2 – (4). Having heard learned counsel for the petitioner and considering the fact that a substantial part of the loan amount has already been paid by the petitioner, it is directed that subject to the petitioner’s depositing the balance amount of `2,52,036.33 within a period of three months from today, the respondent-Bankshall not take further action under the Act. On deposit of the above-stated balance amount, the respondent-Bank shall release the title deeds and issue a ‘No Due Certificate’ in favour of the petitioner. (5). The interest amount shall be deposited by the petitioner without prejudice to her legal rights and after depositing the same, she shall be at liberty to agitate her liability to pay the interest before the Debt Recovery Tribunal, if so required. (6). It is made clear that no interest shall be charged for the three months’ period granted to the petitioner to pay the balance amount. (7). Ordered accordingly. Dasti. 20.12.2010 vishal shonkar (SURYA KANT) JUDGE