IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH Civil Writ Petition No.17151 of 2009 Date of decision: 27th November, 2009 M/s Coventry Coil-O-Matic (Haryana) Ltd. … Petitioner Versus Reserve Bank of India and others … Respondents CORAM: HON’BLE MR. JUSTICE KANWALJIT SINGH AHLUWALIA Present: Mr. R.C. Setia, Senior Advocate with Mr. S.S. Behl, Advocate for the petitioner. KANWALJIT SINGH AHLUWALIA, J. (ORAL) Counsel for the petitioner contends that for the relief sought in the present writ petition, petitioner be relegated to approach the Debt Recovery Tribunal, where the dispute is already pending, to make a plea that petitioner is entitled to make a prayer for one time settlement as per the Reserve Bank of India directive. Learned counsel also prays that he be permitted to urge before the Tribunal to consider the judgment of Hon’ble Apex Court rendered in ‘Sardar Associates and Others v. Punjab and Sind Bank and Others’ JT 2009 (10) SC 410. Counsel further submits that the application to this effect shall be filed before the Debt Recovery Tribunal within 15 days from today. Counsel prays that till the petitioner approaches the Tribunal, this Court may observe that coercive action will not be initiated against the petitioner. Learned counsel also crave for liberty to seek interim relief from the Debt Recovery Tribunal. Taking into consideration the prayer made by learned counsel for the petitioner, petitioner is permitted to withdraw the present petition to approach the Debt Recovery Tribunal to renew the prayer, which has been noticed in this order. Petitioner is also granted liberty to pray to the Civil Writ Petition No. 17151 of 2009 Tribunal for interim relief. For a period of 15 days, till the petitioner approaches the Tribunal, no coercive action shall be initiated against the petitioner. [KANWALJIT SINGH AHLUWALIA] JUDGE November 27, 2009 rps 2