IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH. C.W.P. No. 695 of 2008 DATE OF DECISION : 17.01.2008 M/s Vishwakarma Engineering and Welding Works, Narnaul Road, Qutubpur, Rewari .... PETITIONER Versus Punjab National Bank and another ..... RESPONDENTS CORAM :- HON'BLE MR. JUSTICE SATISH KUMAR MITTAL HON'BLE MR. JUSTICE RAKESH KUMAR GARG Present: Mr. Ajay Jain, Advocate, for the petitioners. * * * SATISH KUMAR MITTAL, J. ( Oral ) The petitioner firm, who is borrower and whose account has been declared as NPA and demand notice under Section 13 (2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as `the Act'), has been issued by the respondent Bank, has filed this petition with the averments that in response to the demand notice, it had made an offer to pay the entire outstanding amount within a period of six months, which has been declined and now, it apprehends that the respondent bank will proceed against it under Section 13 (4) of the Act for taking possession of the mortgaged CWP No. 695 of 2008 -2- property. After hearing the arguments of learned counsel for the petitioner, we are of the opinion that since till date, no step for taking possession of the mortgaged property of the petitioner firm has been taken by the respondents, therefore, at this stage, the writ petition filed by the petitioner is pre-mature. Thus, we are not inclined to entertain this petition at this stage. Dismissed. However, it will be open for the petitioner firm to again approach the respondent bank seeking six months time to clear the outstanding amount against it. In case, any such representation is again made by the petitioner, the same will be looked into by the Authorised Officer/Chief Manager of the respondent bank. ( SATISH KUMAR MITTAL ) JUDGE January 17, 2008 ( RAKESH KUMAR GARG ) ndj JUDGE