CWP No.16294 of 2010.doc - 1 – HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH **** CWP No.16294 of 2010 (O&M) Date of Decision: 10.09.2010 **** Shubhkarman Brar . . . . Petitioner VS. The Authorised Officer, ICICI Bank & 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. Karan Bhardwaj, Advocate for the petitioner ***** SURYA KANT J. (ORAL) (1). The petitioner is aggrieved by a Public notice dated 25.08.2010 (Annexure P1) issued by the respondent- Bank after the petitioner failed to respond to the previous notice issued under Section 13 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. (2). The petitioner’s case appears to be that he has been regularly depositing the due instalments against both the loan cases yet the accounts have been declared as ‘Non-Performing Assets’ (NPA) due to only one default in September, 2009. (3). The petitioner has expressed his willingness to pay the overdue amount to get the loan accounts regularized CWP No.16294 of 2010.doc - 2 – with a further undertaking to pay the future instalments regularly. (4). Having heard learned counsel for the petitioner though no direction(s) to regularize the loan accounts can be issued to the respondent-Bank at this stage except to permit the petitioner to approach the Bank authorities who are directed to consider the desirability of accepting the petitioner’s offer. However, in the event of non-acceptance of the petitioner’s offer by the respondent-Bank, no coercive step shall be taken against him for a period of one month from the date of communication of its decision by the respondent-Bank so as to enable the petitioner to approach the DRT. (5). With these directions and liberty, the writ petition is disposed of. (6). Dasti . (SURYA KANT) JUDGE 10.09.2010 vishal shonkar