IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH Date of Decision : 07.11.2011 C.W.P.No.7576 of 2011 Sumit Goyal …Petitioner Versus Union Bank of India …Respondents CORAM: HON'BLE MR. JUSTICE HEMANT GUPTA HON’BLE MR. JUSTICE G.S.SANDHAWALIA Present: Mr. N.K.Verma, Advocate, for the petitioner. Ms. Jyoti Chaudhary, Advocate, for the respondent. HEMANT GUPTA, J. (ORAL) Petitioner claims a writ of mandamus for directing the respondent-Bank not to take forcible possession of residential house without complying with the proper procedure prescribed under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. In the written statement filed, it has been pointed out that the proposal to seek One Time Settlement was declined vide communication dated 03.10.2011 (Annexure R-3). During the course of arguments, learned counsel for the petitioner has undertaken to settle the entire dues of the Bank on or before 31.01.2012 as per the statement of accounts and the future interest, as mentioned in the statement Annexure R-1. In view of the above undertaking, the present writ petition is disposed of with a direction to the Bank not to take any coercive step on or C.W.P.No.7576 of 2011 before 31.01.2012. However, in the event of failure to deposit the outstanding amount in terms of undertaking given today, it shall be open to the respondent-Bank to initiate such proceedings as are available to the Bank in accordance with law. (HEMANT GUPTA) JUDGE 07.11.2011 (G.S.SANDHAWALIA) Pka/Vimal JUDGE 2