IN THE HIGH COURT OF PUNJAB & HARYANA AT CHANDIGARH Civil Revision No.1444 of 2008 (O&M) Date of Decision : 16.09.2009 Smt.Sween Goyal .....Petitioner versus Punjab Financial Corporation & others .....Respondents CORAM : HON'BLE MR.JUSTICE SURYA KANT. Present : Mr.Puneet Gupta, Advocate, for the petitioner. Mr.Pradeep Bhandari, Advocate, for respondent Nos.1 & 2. -.- 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? --- ORDER Surya Kant, J. (Oral) This revision petition is directed by the plaintiff, who has been declined ad-interim injunction under Order 39 Rules 1 & 2 CPC, by the trial Court vide order dated 5.9.2007 and whose appeal against the aforestated order has also been dismissed by the First Appellate Court vide its judgment dated 12.11.2007. The controversy pertains to recovery of arrears of the loan granted to Chandigarh Plastic Industries, S.A.S. Nagar, Mohali, by the Punjab Financial Corporation. The petitioner-plaintiff has filed a Civil Suit for declaration challenging the action taken under Section 32-G of the State Financial Corporation's Act, 1951 by the respondent-Corporation for C.R. No.1444 of 2008 (O&M) 2 recovery of the arrears of loan. It is not in dispute that as per the claim of the respondent- Corporation the petitioner is liable to pay over Rs.4 crores to discharge the loan liability. The petitioner, on the other hand, relies upon the One Time Settlement Scheme known as Punjab Financial Corporation OTS General Scheme, 2003, and contends that the total arrears payable under the OTS Scheme by her shall not be more than Rs.8-9 lacs. The respondent- Corporation's stand appears to be that the petitioner failed to avail the benefit of OTS Scheme as she did not deposit the agreed amount. The petitioner alternatively urges that another OTS Scheme has been launched by the respondent-Corporation meanwhile and if her claim is settled under that OTS Scheme, then also the petitioner is liable to pay not more than Rs.11-12 lacs. However, no decision is said to have been taken by the Competent Authority or the Council of Ministers of the Punjab State. Having heard counsel for the parties, it appears that no coercive step can be permitted to be taken for recovery of the loan arrears from the petitioner, till some decision on her claim for settlement under the new OTS Scheme is taken by the Competent Authority provided that the petitioner, in order to show her bonafide, deposits a sum of Rs.12 lacs with the respondent-Corporation, which is stated to be the estimated total liability of the petitioner under the new OTS Scheme. Suffice is to say that if the claim of the petitioner is found within the ambit of the new OTS Scheme, the same will be settled accordingly without prejudice to the C.R. No.1444 of 2008 (O&M) 3 petitioner's right to pursue her claim for settlement under the first OTS Scheme. The amount of Rs.12 lacs shall be deposited by the petitioner with the respondent-Corporation within a period of 2 weeks from the date of receiving a certified copy of this order. If any amount has already been deposited by the petitioner, under the O.T.S., the same shall be adjusted towards Rs.12 lacs, to be deposited by the petitioner without prejudice to the rights of both the parties. The revision petition stands disposed of. Dasti. 16-09-2009 (SURYA KANT) Mohinder JUDGE