CWP No.5038 of 2009 [1] IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH. C. W. P. No. 5038 of 2009 Date of Decision: 12 - 11 - 2009 Jai Mata Durga Transport Company ....Petitioner v. ICICI Bank ....Respondent CORAM: HON'BLE MR.JUSTICE KANWALJIT SINGH AHLUWALIA *** Present: Mr.Mukand Gupta, Advocate for the petitioner. Mr.Sandeep Suri, Advocate for the respondent. *** KANWALJIT SINGH AHLUWALIA, J. (ORAL) The present writ petition has been filed by the petitioner seeking a direction to the respondent to reschedule the monthly installments of the vehicles financed by the respondent and further directing the respondent not to take coercive method for repossessing the vehicles. Counsel for the parties submit that during the course of arguments, the following agreement has been arrived:- “The amount of Rs.39,55,564/- to regularise the account shall be paid in two installments. The first installment amounting to Rs.20 lacs shall be paid on or before 31.12.2009 and the CWP No.5038 of 2009 [2] balance amount shall be paid on or before 25.2.2009. The petitioner shall continue to pay the installments as per the schedule prescribed by the Bank on each and every due date. The installment which was due for the month of November, 2009 shall be paid on or before 30.11.2009.” Counsel for the petitioner has further stated that in case there are three consecutive defaults on the part of petitioner, the Bank shall be at liberty to recall the loan and repossess the vehicles financed. The four loan accounts in which repayment has been made, the Bank will issue `No Objection Certificate' within seven days from today. In view of the broad consensus arrived between the parties which has been noticed above, the present writ petition is disposed of. ( KANWALJIT SINGH AHLUWALIA ) November 12, 2009. JUDGE RC