C.W.P NO. 8890 OF 2009 -1- IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH C.W.P NO. 8890 OF 2009 DECIDED ON : 30.05.2009 M/S Charan Kumar Card Board ...Petitioner versus State Bank of India and others ...Respondents CORAM : HON'BLE MR. JUSTICE SURYA KANT Present : Mr. Amit Rawal, Advocate, for the petitioner. SURYA KANT, J. (ORAL) The petitioner seeks quashing of the proceedings initiated under Section 13 (2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (in short “the 2002 Act”), in terms whereof, he apprehends his dispossession of the 'secured assets'. The petitioner claims itself to be a sick company, duly registered as such under the Sick Industrial Companies (Special Provisions) Act, 1985 and asserts that its assets cannot be taken over by the Bank without prior permission of the BIFER. According to the petitioner, as soon as the impugned notice was received, it had sent its reply-cum-objections dated 10.04.2009 (Annexure P-6), C.W.P NO. 8890 OF 2009 -2- though the respondent-Bank vide its memo dated 12.05.2009 (Annexure P-7) denied the receipt thereof. Thereafter, according to learned counsel for the petitioner the objections have again been sent to the respondent- Bank by way of a registered post on 20.05.2009. He, however, apprehends that the Bank authorities are bent upon to take over the physical possession of the secured assets even without deciding those objections. It is also stated that the respondent- Bank has already applied to the BIFER but no permission has yet been accorded so far. Having heard learned counsel for the petitioner and considering the nature of relief sought in this writ petition, I deem it appropriate to dispose of the same with the directions that if the objections submitted by the petitioner have already been received by the Bank, the same shall be considered and disposed of by passing a reasoned order and till then no coercive step like dispossession of secured assets, shall be taken by the respondent-Bank. Disposed of. Let a copy of this order be given dasti on payment of usual charges. MAY 30, 2009 (SURYA KANT) shalini JUDGE