CWP No.19926 of 2009.doc - 1 – HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH **** CWP No.19926 of 2009 (O&M) Date of Decision: 20.12.2010 **** M/s. JK Steel Shuttering Store . . . . Petitioner VS. Central Bank of India & 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. Vivek Goel, Advocate for the petitioner Ms. Jyoti Chaudhary, Advocate for the respondents ***** SURYA KANT J. (ORAL) (1). The petitioner challenges the action taken by the respondent-Bank against it under Section 13(4) read with Section 13(12) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (in short, ‘the Act’). (2). On December 22, 2009 it was stated on behalf of the petitioner that the total outstanding amount was Rs.4,36,688/- which shall be paid within a period of one year. It was directed that subject to the petitioner’s depositing a sum of Rs.50000/-, the auction shall not be confirmed. CWP No.19926 of 2009.doc - 2 – (3). On 06.01.2010 it was stated on behalf of the petitioner that it has made payment of more than the amount due, yet a direction was issued on August 2, 2010 to the petitioner to deposit a sum of Rs.70,000/- with the Bank. (4). Meanwhile, the period of one year within which the petitioner was to pay the entire loan amount has also expired. (5). The writ petition is accordingly disposed of with a direction that the balance amount, if any, still to be paid by the petitioner, shall be deposited by it on/or before 31st January, 2011 and till then the auction shall not be confirmed. (6). However, if the petitioner is still aggrieved, liberty is granted to it to approach the Debt Recovery Tribunal under the Act. (7). Ordered accordingly. Dasti. 20.12.2010 vishal shonkar (SURYA KANT) JUDGE