IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH. CIVIL WRIT PETITION NO. 10346 OF 2009 DATE OF DECISION: October 05, 2009. Parties Name Puneet Kumar and another ..PETITIONERS VERSUS State Bank of India ...RESPONDENT CORAM: HON'BLE MR. JUSTICE JASBIR SINGH PRESENT: Mr.Mukand Gupta, Advocate, for the petitioners JASBIR SINGH, J.(oral) ORDER. On July15, 2009, following order was passed by this Court: “The petitioners have filed this writ petition on receipt of a notice dated 12.6.2009 under Section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. Counsel for the petitioners states that as on today, as per notice mentioned above, an amount of Rs. 7,13,495/- plus interest is due from the petitioner. Counsel states that to show their bonafide, the petitioners shall deposit an amount of Rs. Two lac with the respondent -Bank within a period of two weeks from today and the remaining payment shall be made as per revised schedule of payment fixed by the Bank. Notice of motion 17.9.2009. Till further orders, no coercive action be initiated against the CIVIL WRIT PETITION NO. 10346 OF 2009 -2- petitioners. It is made clear that if the petitioners fail to comply with the undertaking given in this Court, this writ petition shall be dismissed on the next date of hearing.” The petitioners have failed to deposit the amount as undertaken by their counsel. On September 17, 2009, the petitioners were again directed to comply with the order, passed on July 15, 2009. Counsel for the petitioners states that the petitioners have failed to respond to the communication sent by him. It appears that from the very beginning, the petitioners' intention was not honest. Undertaking to deposit the amount was given in a dishonest manner with a view to stay the proceedings, initiated under the provisions of Section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, by the respondent – Bank. The petitioners are defaulters and by not depositing the amount, now they have proved that the default was committed deliberately. In view of above, this writ petition is dismissed with costs of Rs. 10,000/-, to be deposited by the petitioners with the Secretary, UT Legal Services Authority,Chandigarh. In case the amount is not deposited within one month from today, the Secretary shall initiate action for execution of this order. (JASBIR SINGH) JUDGE October 05, 2009. DKC