CWP No.1372 of 2010.doc - 1 – HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH **** CWP No.1372 of 2010 Date of Decision: 06.10.2010 **** Gurdeep Kaur ... Petitioner VS. State Bank of Patiala …Respondent **** 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: Ms. JK Gurna, Advocate for the petitioner Mr. Lalit Rishi, Advocate for the respondents ***** SURYA KANT J. (ORAL) (1). The action taken under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 is being challenged by the petitioner. (2). Briefly stated, the petitioner took personal loan of `7 lacs in December, 2006 which was to be re- paid in 84 equated monthly instalments of `12,642/- each, the first instalment commencing with effect from January, 2007. The petitioner defaulted in the deposit of some of the instalments which led to initiation of the impugned action by the Bank. CWP No.1372 of 2010.doc - 2 – (3). Counsel for the petitioner states at the bar that the petitioner is ready and willing to deposit the entire overdue loan amount as may be chargeable by the Bank along with interest with a further undertaking to pay the instalments regularly in future. That being so, there appears to be no necessity for relegating the petitioner to avail the alternative remedy under the Act. (4). Having heard learned counsel for the parties and with a view to give one more opportunity to the petitioner to get her loan account regularized, the writ petition is disposed of with a direction to the petitioner to deposit the overdue amount along with due interest within a period of 45 days from the date of receipt of a certified copy of this order with a further direction to continuously pay the due instalments as per schedule failing which the respondent-Bank shall be entitled to proceed in accordance with law. (5). Ordered accordingly. (6). Dasti . 06.10.2010 vishal shonkar (SURYA KANT) JUDGE