M/S Rameshwar International v. Allahabad Bank And Others

IN THE HIGH COURT OF PUNJAB AND HARYANA

AT CHANDIGARH CWP No. 10979 of 2019 Decided on : 29.04.2019 M/s Rameshwar International . . . Petitioner(s)

Versus

Allahabad Bank and another . . . Respondent(s) CORAM: HON'BLE MR. JUSTICE AJAY KUMAR MITTAL HON'BLE MRS. JUSTICE MANJARI NEHRU KAUL PRESENT: Mr. Munish Puri, Advocate for the petitioner(s).

**** AJAY KUMAR MITTAL, J. (Oral) The petitioner has approached this Court under Articles 226/227 of the Constitution of India, seeking quashing of the impugned notice of sale dated 28.03.2019 (Annexure P-5), possession notice dated 14.11.2018 (Annexure P-4), issued under Section 13(4) of the Securitization and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (in short 'the 2002 Act') as well as notice under Section 13(2) of the 2002 Act. A further prayer for staying the operation of impugned notices (Annexures P-3 to P-5) as well as other coercive measures taken by the Bank under the 2002 Act, has also been made. 2.

After arguing for sometime, learned counsel for the petitioner states that he may be allowed to withdraw the present writ petition with liberty to the petitioner either to approach the respondent-Bank at the first instance or take recourse to the alternative remedies as may be available to the petitioner, in accordance with law.

3.

Dismissed as withdrawn. It shall, however, be open to the petitioner to take recourse to the remedies as may be available to it, in accordance with law. (AJAY KUMAR MITTAL) JUDGE (MANJARI NEHRU KAUL) JUDGE April 29, 2019 J.Ram Whether speaking/reasoned:

Yes/No Whether Reportable:

Yes/No JAWALA RAM 2019.04.30 14:13 I attest to the accuracy and authenticity of this document Chandigarh