M/S Devrishi Foods Private Limited And Another v. Bank Of Baroda And Another

IN THE HIGH COURT OF PUNJAB AND HARYANA

AT CHANDIGARH CWP No. 12333 of 2019 Decided on : 10.05.2019 M/s Devrishi Foods Private Limited and another . . . Petitioner(s)

Versus

Bank of Baroda and another . . . Respondent(s) CORAM: HON'BLE MR. JUSTICE AJAY KUMAR MITTAL HON'BLE MR. JUSTICE AVNEESH JHINGAN PRESENT: Mr. Rohit Suri, Advocate, for the petitioner(s).

**** AJAY KUMAR MITTAL, J. (Oral) Petitioners have approached this Court under Articles 226/227 of the Constitution of India, seeking quashing of the demand notice dated 05th May, 2018 (Annexure P-6) and possession notice dated 25th July, 2018 (Annexure P-8), for the account, which was wrongly classified as NPA in contravention of the Export Credit Insurance for Banks (WT-PS) guidelines, Chapter-8, RBI guidelines of NPA and the Securitization and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (in short 'the Act') and Rules. Besides above, a further prayer has been made for issuing direction to the respondent-Bank to process the claim before the ECGC at the earliest which is secured to the extent of ` 4.40 Crores and provide a Nursing Programme as detailed in Clause 8.14 of Export Credit Insurance for Banks (WT-PS) guidelines, Chapter-i (Annexure P-15). 2.

After arguing for sometime, learned counsel for the petitioners submitted that he may be allowed to withdraw the present writ petition with liberty to the petitioners to take recourse to the alternative remedies as are available to them, in accordance with law.

3.

Dismissed as withdrawn. It shall, however, be open to the petitioners to take recourse to the remedies as may be available to them, in accordance with law. (AJAY KUMAR MITTAL) JUDGE (AVNEESH JHINGAN) JUDGE May 10, 2019 J.Ram Whether speaking/reasoned: Yes/No Whether Reportable: Yes/No JAWALA RAM 2019.12.20 12:43 I attest to the accuracy and authenticity of this document Chandigarh