IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH C.W.P NO. 2855 OF 2009 DECIDED ON : 25.02.2009 M/S Aman Cotton Factory ...Petitioner versus State Bank of India and another ...Respondents CORAM : HON'BLE MR. JUSTICE SURYA KANT Present : Mr. Mukand Gupta, Advocate, for the petitioner. SURYA KANT, J. (ORAL) The petitioner seeks a direction to the respondent- bank to accept part payment of the loan/cash credit limit and not to initiate proceedings under Section 13 (2) of the Securitization and Reconstruction of Financial Asset and Enforcement of Security Interest Act, 2002. It is not in dispute that the respondent-bank has already instituted a recovery suit against the petitioner which is pending in the Debts Recovery Tribunal at Chandigarh. Meanwhile, the bank as invoked Section 13 (2) of the 2002 Act. Apprehending further action under sub Section (4) of Section 13, that the petitioner has approached this Court. It is urged on behalf of the petitioner that it is ready and willing to pay the entire loan amount in installments as per the Schedule appended with the writ petition. C.W.P NO. 2855 OF 2009 -2- Having heard learned counsel for the petitioner and keeping in view the fact that the recovery proceedings are already pending before the Debts Recovery Tribunal, I am of the considered view that no case of interference by this Court is made out. It will be appropriate for the petitioner to move an application before the Debts Recovery Tribunal and pursuade to the said Authority with the commitment/undertaking to discharge the entire loan liability through installments. If any such application is moved by the petitioner, it is directed that the Debts Recovery Tribunal shall consider the same sympathetically and dispose of, as early as possible. Disposed of. FEBRUARY 25, 2009 (SURYA KANT) shalini JUDGE