IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH. C.W.P. No.21436 of 2008 Date of decision: 22.12.2008 Anil Kumar Jindal. -----Petitioner Vs. Central Bank of India and others. -----Respondents CORAM:- HON'BLE MR JUSTICE ADARSH KUMAR GOEL HON'BLE MR JUSTICE L.N. MITTAL Present:- Mr. S.D. Bansal, Advocate for the petitioner. ----- ORDER: This petition seeks quashing of notice dated 10.11.2008 Annexure P-5 issued by the Central Bank of India for taking possession of the property of the petitioner for default in payment of loan amount. Case of the petitioner is that the petitioner took a housing loan in the year 2002 and the amount was to be repaid within 10 years. The petitioner paid about Rs.5 lacs (Learned counsel for the petitioner orally says that the petitioner has already paid Rs.7 lacs) and a sum of Rs.4,96,105/- was due as on 1.5.2006, for which the impugned notice has been issued. In normal course, we may not have entertained this petition in view of alternative remedy. However, learned counsel for the C.W.P. No.21436 of 2008 petitioner makes a statement that the petitioner is willing to deposit the entire outstanding amount in the housing loan account on or before 30.4.2009 and an undertaking is given to this Court to that effect. In view of above undertaking, we direct that the bank will not proceed against the petitioner till 30.4.2009 by way of any coercive steps for default in payment of housing loan amount. It is made clear that the bank will be at liberty to proceed in accordance with law for default in any other account. The petition is disposed of. ( ADARSH KUMAR GOEL ) JUDGE December 22, 2008 ( L. N. MITTAL ) ashwani JUDGE 2