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High Court of Punjab and HaryanaCWP/7884/2025disposed of

M/S Shri Hari Engineering Works And Others v. Canara Bank And Others

2025-03-24Mr. Justice Anupinder Singh Grewal,Mr. Justice H.S. Grewal2 pages

CWP No.7884 of 2025     122 IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH CWP No.7884 of 2025 Date of decision: 24.03.2025 M/s. Shri Hari Engineering Works and Others .....Petitioners

Versus

Canara Bank and Others .....Respondents

CORAM:

HON'BLE MR. JUSTICE ANUPINDER SINGH GREWAL HON'BLE MR. JUSTICE H.S. GREWAL

Present:

Mr. Naresh Prabhakar, Advocate for the petitioners.     

   Learned counsel for the petitioners submits that the petitioners have challenged e-auction notice dated 06.03.2025 (P-11) whereby the secured asset is being put to auction on 25.03.2025. He also submits that the petitioners have preferred Securitization Application (SA) bearing No.392 of 2024 but the same could not be taken up by Debt Recovery Tribunal (DRT)-II for the want of Presiding Officer. He therefore seeks protection till the DRT-II resumes functioning.

2.

At this juncture, Mr. Satyapal Jain, learned Additional Solicitor General of India submits that vide order dated 20.03.2025, the Central Government has entrusted the additional charge for the post of Presiding Officer, Debts Recovery Tribunal-II, Chandigarh to Shri Anand Sagar Narang, Presiding Officer, Debts Recovery Tribunal-I, Chandigarh w.e.f. 14.02.2025 for a period of six months.

3.

Issue notice to the respondents.

4.

Mr. Sartaj Singh Gill, Advocate has put an appearance on behalf of the respondent-Bank and submits that the auction which was slated for 25.03.2025, has failed for want of deposit of earnest money. Sonia Puri 2025.03.24 17:04 I attest to the accuracy and integrity of this document

CWP No.7884 of 2025     5.

In view of the statement made on behalf of learned counsel for the respondents, this petition has been rendered infructuous at this stage. 6.

The petition stands disposed of as infructuous at this stage. However, the petitioners would be at liberty to pursue their Securitization Application before the concerned DRT, in accordance with law.

(ANUPINDER SINGH GREWAL) JUDGE 24th March, 2025 (H.S. GREWAL) Sonia Puri JUDGE  Whether speaking/ reasoned : Yes / No Whether reportable : Yes / No  Sonia Puri 2025.03.24 17:04 I attest to the accuracy and integrity of this document