C.W.P. No.19276 of 2009 -1- IN THE HIGH COURT FOR THE STATES OF PUNJAB AND HARYANA AT CHANDIGARH C.W.P. No.19276 of 2009 Date of Decision: 06.01.2010 Gurinder Singh @ Gurvinder Singh ....Petitioner Versus Bank of Maharashtra and another ....Respondents Present: Mr. Rahul Chhatwal, Advocate for the petitioner. Ms. Archana Sharma, Advocate for the respondents. CORAM:HON'BLE MR. JUSTICE K. KANNAN 1. Whether Reporters of local papers may be allowed to see the judgment ? No 2. To be referred to the Reporters or not ? No 3. Whether the judgment should be reported in the Digest? No -.- K. KANNAN J.(ORAL) 1. The writ petition seeks for quashing of notice issued under the Securitization & Reconstruction of Financial Assets & Enforcement of Security Interest Act, 2002 as a prelude to sale for recovery of amount due to the Bank from the petitioner. On an undertaking given by the petitioner that he was willing to deposit the entire amount due, this Court has issued notice and the counsel for the petitioner states that the petitioner would pay Rs.50,000/- on or before 12.01.2010 and make a second installment of Rs.50,000/- on or before 12.02.2010 and that C.W.P. No.19276 of 2009 -2- further the entire balance of amount would be paid on or before 31.03.2010. The undertaking is recorded and the writ petition is disposed of granting the liberty to the respondent to proceed under the Securitization & Reconstruction of Financial Assets & Enforcement of Security Interest Act, 2002, if the petitioner commits any default in payment of any one of the installments or the non-payment of whole sum before 31.03.2010. It shall not be necessary to issue a notice afresh under Section 13(2) and further process of recovery as contemplated under Rule 8 of the Security Interest (Enforcement) Rules, 2002 will come into operation. 2. The writ petition is disposed of in the above terms. (K. KANNAN) JUDGE January 06, 2010 Pankaj*