CWP No.15553 of 2010.doc - 1 – HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH **** CWP No.15553 of 2010 Date of Decision: 06.12.2010 **** Ashok Sharma . . . . Petitioner VS. State of Punjab & Anr. . . . . . Respondents **** 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: Mr. Vishal Aggarwal, Advocate for the petitioner Mr. SC Pathela, Advocate for the respondents ***** SURYA KANT J. (ORAL) (1). The petitioner is aggrieved by the action initiated under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (in short, ‘the Act’). (2). Learned counsel for the petitioner made a statement on 07.09.2010, that given some reasonable time, the petitioner is willing to pay the entire loan amount. Further action under the Act was accordingly stayed subject to his depositing an amount of `4 lacs in two instalments. (3). It is not disputed that the petitioner complied with the said order and has deposited `4 lacs with the CWP No.15553 of 2010.doc - 2 – respondent-Bank. As per the impugned notice, the amount recoverable is `4,81,039.00 as on 23.07.2010 whereas the petitioner relies upon the Statement of Account dated 25.06.2010 according to which the balance loan amount is `399074.17. (4). In these circumstances when the petitioner has already paid the substantial part of the loan amount, the writ petition is disposed of with a direction to the respondents to furnish to the petitioner the correct statement of accounts giving complete details as to how the interest component has been calculated. (5). The petitioner shall deposit the balance amount within a period of one month from the date the details of accounts are furnished to him by the respondent-Bank. (6). In the event of any dispute also, the petitioner shall firstly deposit the above-stated amount though without prejudice to his right to approach the appropriate forum. (7). Ordered accordingly. Dasti. 06.12.2010 vishal shonkar (SURYA KANT) JUDGE