IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH Civil Writ Petition No.15066 of 2009 Date of Decision: 07.10.2009 M/s New Chandigarh Trading Co. and another Petitioners Versus Punjab National Bank Respondent CORAM:- HON'BLE MR. JUSTICE JASBIR SINGH Present: Mr.D.S.Keer and Mr.Jagjeet Singh, Advocates for the petitioners Mr.R.S.Bhatia, Advocate for the caveator ….. Jasbir Singh, J. (Oral) This writ petition has been filed with a prayer to quash order dated 19.8.2009 (P3), issued under Section 13(4) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (in short, the Act). It is not in dispute that the petitioners are defaulters. When despite notice issued, they failed to make payment of the defaulted amount, the bank was compelled to initiate proceedings under the provisions of the Act. Mr.Bhatia states that notice for auction has not yet been issued. Against any action taken under Section 13(4) of the Act, appeal is competent. This writ petition is not maintainable. Dismissed. 07.10.2009 (Jasbir Singh) gk Judge