C.W.P NO. 18600 OF 2007 -1- IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH C.W.P NO. 18600 OF 2007 DECIDED ON : 04.05.2009 M/S Shakti Weldmesh Indts. Ltd. ...Petitioner versus PFC and others ...Respondents CORAM : HON'BLE MR. JUSTICE SURYA KANT Present : Mr. D. S. Patwalia, Advocate, for the petitioner. Mr. Pradip Bhandari, Advocate and Mr. Jatinder Kumar, Advocate, for the respondents. SURYA KANT, J. (ORAL) The petitioner seeks quashing of the order dated 13.09.2007 (Annexure P-22), whereby the Punjab Financial Corporation has raised a demand of Rs.3.35 crores against it. Notice of motion was issued and after hearing learned counsel for the parties, the following order was passed by this Court on 02.09.2008 : “ In this petition, challenge is to demand of Rs.3.35 crore. According to the petitioner, the amount due could be Rs.84 lacs, which the petitioner is C.W.P NO. 18600 OF 2007 -2- willing to deposit within four months to show its bonafides and without prejudice to the rights and contention of the petitioner. In view of the above, we adjourn the hearing to 04.02.2009 to enable the petitioner to make the deposit. The deposit will abide by further orders of this Court. If the above deposit is made, prayer for return of the possession of the Unit will be considered on the next date. The petitioner will also be at liberty to represent to the respondent for the said prayer. In the meanwhile, the property will not be sold”. Since the petitioner failed to deposit a sum of Rs.84 lacs as per its undertaking, he prayed and was granted one more opportunity to deposit the same by 31.03.2009. The petitioner, however, did not deposit the amount within the aforesaid period also. Learned counsel for the petitioner has now come up with a new plea that during the pendency of this writ petition, the respondent-Corporation has notified another OTS Scheme-2009 and in terms thereof, the petitioner is liable to pay a lesser amount. According to learned counsel for the petitioner, an application under the new OTS has already been submitted by the C.W.P NO. 18600 OF 2007 -3- petitioner. Having heard learned counsel for the parties and considering the stand taken by them, this writ petition is disposed of with a direction to the respondent-Corporation to consider the petitioner's application, if any, under the new OTS Scheme-2009 and if the petitioner is found eligible under the same, to settle its account in accordance with the said Scheme. Till the respondent- Corporation takes a final decision on the petitioner's application, the interim order dated 02.09.2008 restraining the sale of the property, shall continue to operate. The petitioner's application for settlement of its account under the new OTS Scheme, however, shall be without prejudice to its other legal rights, if any. Disposed of. Let a copy of this order be given dasti on payment of usual charges. MAY 04, 2009 (SURYA KANT) shalini JUDGE