M/S H.R. Timber & ORS v. Oriental Bank Of Commerce & ANR

I N THE HI GH COURT OF PUNJAB AND HARYANA AT CHANDI GARH CWP- 10441- 2016 Dat e of deci si on: - 25. 05. 2016 M/ s H. R. Ti mber and ot her s . . . Pet i t i oner s Ver sus Or i ent al Bank of Commer ce and anot her . . . Respondent s CORAM: HON' BLE MR. JUSTI CE S. J. VAZI FDAR, ACTI NG CHI EF JUSTI CE HON' BLE MR. JUSTI CE ARUN PALLI Pr esent : - Mr . Sanj i v Bhandar i , Advocat e, Mr . Ami t Dhal l , Advocat e, and Mr . Vi vek Ver ma, Advocat e, f or t he pet i t i oner s.

* * * * S. J. VAZI FDAR, A. C. J. ( ORAL) The pet i t i oner s have chal l enged t he pr oposed sal e of t he secur ed asset s, i nt er al i a, on t he gr ound t hat t he pr ovi si ons of Rul e 8( 6) of t he Secur i t y I nt er est ( Enf or cement ) Rul es, 2002 wer e not f ol l owed.

2.

Ther e wer e no bi dder s at t he auct i on. The pr ocedur e woul d, t her ef or e, have t o be under t aken af r esh. I t i s not necessar y, t her ef or e, t o ent er t ai n t hi s pet i t i on. 3.

The pet i t i on i s accor di ngl y di sposed of . Needl ess t o cl ar i f y t hat i n t he event of any f r esh auct i on bei ng hel d, i t wi l l al so be i n accor dance wi t h l aw and t hat i f t he pet i t i oner s chal l enge t he same, t hei r appl i cat i on i ncl udi ng i nt er i m appl i cat i on( s) t her ei n woul d be consi der ed wi t hout bei ng i nf l uenced by t he ear l i er or der s as t hey wer e mer el y i nt er i m or der s.

( S. J. VAZI FDAR) ACTI NG CHI EF JUSTI CE ( ARUN PALLI ) JUDGE

25. 05. 2016 AMODH SHARMA 2016.05.26 12:38 I attest to the accuracy and authenticity of this document chandigarh Amodh