Civil Writ Petition No. 10853 of 2009 1 In the High Court of Punjab and Haryana, at Chandigarh. Civil Writ Petition No. 10853 of 2009 Date of Decision: 15.10.2009 M/s INS Finance & Investment Private Limited, New Delhi …Petitioner Versus Punjab National Bank, Panchkula and Others …Respondents CORAM: HON’BLE MR. JUSTICE KANWALJIT SINGH AHLUWALIA. Present: Mr. N.S. Shekhawat, Advocate for the petitioner. Mr. R.S. Bhatia, Advocate for respondent No.1. None for respondents No.2 to 4. Mr. Suvineet Sharma, Advocate for respondent No.5. Kanwaljit Singh Ahluwalia, J. (Oral) Counsel for the parties are in agreement that petitioner had participated in the auction and being a successful bidder was held entitled to the purchase of the property. It is, however, not disputed that auction was set aside by the Debt Recovery Tribunal. The order whereby auction was set aside has been assailed by the Bank before the Debt Recovery Appellate Tribunal. Counsel for the petitioner submits that the petitioner has deposited the entire amount and the amount is not being refunded. Mr. Suvineet Sharma, Advocate, appearing for respondent Civil Writ Petition No. 10853 of 2009 2 No.5-judgment debtor, has stated that the amount may be returned to the petitioner subject to the condition that the petitioner shall hand over the possession to the judgment debtor. Mr. Bhatia has submitted that appeal filed by the bank is scheduled for hearing on 23.10.2009. Debt Recovery Appellate Tribunal is requested to dispose of the appeal as early as possible, preferably within two weeks from the receipt of copy of the order. Counsel for the bank-respondent No.1 undertakes to inform the Debt Recovery Appellate Tribunal regarding the request made by this Court so that litigation pending between the parties is not further complicated. After decision of the appeal, in case appeal filed by the bank is dismissed, on handing over the possession by the petitioner, the amount of auction will be returned to him. With the observations made above, the present petition is disposed of. Copy of the order be handed over to Mr. R.S. Bhatia, Advocate, counsel for the bank-respondent No.1, under the signatures of Reader of this Court, for placing the same on record of the Debt Recovery Appellate Tribunal. (Kanwaljit Singh Ahluwalia) Judge October 15, 2009 “DK”