CWP No.11089 of 2010.doc - 1 – HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH **** CWP No.11089 of 2010 (O&M) Date of Decision: 25.08.2010 **** Raj Pal and others . . . . Petitioners VS. PNB Housing Finance Ltd. . . . . . Respondent **** CORAM : HON’BLE MR.JUSTICE SURYA KANT **** 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? **** Present: Mr. JP Sharma, Advocate for the petitioner Mr. RS Bhatia, Advocate for the respondent ***** SURYA KANT J. (ORAL) (1). The petitioners were served with the notices dated 08.03.2010 and 02.06.2010 (Annexure P1 & P3, respectively) issued under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for brevity, ‘the Act’) against which they approached the Debt Recovery Tribunal, Chandigarh Bench. The Tribunal disposed of their SA vide order dated 30.04.2010 (Annexure P2) on the basis of statement made by the petitioners’ counsel that the balance amount shall be paid CWP No.11089 of 2010.doc - 2 – within a period of three months i.e. upto 31st July, 2010. (2). The petitioners thereafter are said to have moved an application before the DRT for modification of the above-stated order on the plea that they never ‘authorized’ their counsel to make such a statement. Meanwhile, the respondent-Finance Company has again issued a notice under Section 13(2) of the Act demanding the payments as per the agreed schedule. Aggrieved, the petitioners have approached this Court. (3). Learned counsel for the parties have been heard and reply filed by respondent in Court has been taken on record and perused. (4). It is not in dispute that the petitioners made no payments to discharge their loan liability after 08.10.2009. In these circumstances, no ‘blanket’ stay against recovery can be granted to them. (5). The writ petition is, accordingly, disposed of with a direction to the learned Debt Recovery Tribunal to decide the application, if any, moved by the petitioners for modification of the order dated 30.04.2010 (Annexure P2) within a period of three months from the date of receipt of a certified copy of this order. The dispossession of the petitioners CWP No.11089 of 2010.doc - 3 – shall remain stayed, till the decision of that application, however, subject to their depositing Rs.1 lac with the respondent within a period of one month. (6). Ordered accordingly. Dasti. (SURYA KANT) JUDGE 25.08.2010 vishal shonkar