IN THE PUNJAB AND HARYANA HIGH COURT AT CHANDIGARH CWP No. 3156 of 2011 Date of Decision: 15.11.2011 M/s Steelco Traders Prop. and others ...Petitioners Versus Punjab and Sind Bank and another ..Respondents CORAM: Hon'ble Mr. Justice Hemant Gupta Hon'ble Mr. Justice G.S. Sandhawalia Present: Mr. Shakun Chaudhary, Advocate for the petitioners. Mr. I.P. Singh, Advocate for the respondent. Hemant Gupta, J. Challenge in the present petition is to the proceedings initiated against the petitioner under Securitization and Reconstruction of Financial Assets & Enforcement of Security Interest Act, 2002 (for short `the Act'). The petitioner filed an affidavit dated 1.3.2011 with undertaking to deposit Rs.6 lacs in six months and further Rs.6 lacs in next six months and remaining amount in two instalments in the next two years. An order recording such affidavit was passed on 3.3.2011. Mr. I.P. Singh, Advocate for the respondent pointed out that only Rs.One lac was deposited in terms of order passed by this Court on 3.3.2011. At this stage, learned counsel for the petitioner wishes to withdraw the present petition with liberty to avail such remedy as is available to the petitioner under the Act. Dismissed as withdrawn with liberty aforesaid. ( Hemant Gupta ) Judge (G.S. Sandhawalia) 15.11.2011 Judge Meenu