IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH Civil Writ Petition No.14012 of 2009 Date of Decision: 09.09.2009 M/s Shivam Tea Co. and others Petitioners Versus Authorised Officer, Vijaya Bank and others Respondents CORAM:- HON'BLE MR. JUSTICE JASBIR SINGH Present: Mr.Ram Lal Gupta, Advocate for the petitioners ….. Jasbir Singh, J.(Oral) Against action initiated by the respondent-bank, under the provisions of Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, the petitioners have moved an application before the Debt Recovery Tribunal at Chandigarh (in short, the Tribunal). Counsel states that initially, on an application moved, interim order, staying further proceedings, was passed on 23.10.2008, in favour of the petitioners, however, subsequent thereto, vide order dated 14.1.2009, interim stay was not extended and the petitioners were directed to approach the bank within seven days, for settlement. Liberty was granted to the petitioners that in case of need, they can file a fresh application for interim stay. Settlement with the bank did not materialize. The bank, in the meantime, notified the mortgaged property for auction. The petitioners filed Civil Writ Petition No.14012 of 2009 an application for pre-poning the date and also an application for grant of an interim stay, however, despite requests made and adjourning the matter on several dates, no order has been passed on application for interim stay. Now the matter is listed before the Tribunal on 12.10.2009. This writ petition is disposed of with a direction to the Tribunal, to take up and decide application of the petitioners, for interim stay, on the date fixed i.e. 12.10.2009. If any auction notice is issued again, before 12.10.2009, the petitioners be at liberty to move an application for preponing the date and the Tribunal will then prepone the date and hear the matter expeditiously. 09.09.2009 (Jasbir Singh) gk Judge 2