M/S Apna Punjab Resorts Limited & ANR. v. State Bank Of India & ORS.

I N THE HI GH COURT OF PUNJAB AND HARYANA AT CHANDI GARH CWP- 11389- 2016 Dat e of deci si on: - 01. 06. 2016 M/ s Apna Punj ab Resor t s Li mi t ed and anot her . . . Pet i t i oner s Ver sus St at e Bank of I ndi a and ot her s . . . 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 . V. K. Ji ndal , Seni or Advocat e, wi t h Mr . Sandeep Jai n, Advocat e, f or t he pet i t i oner s.

Mr . Rakesh Gupt a, Advocat e, f or t he caveat or .

* * * * S. J. VAZI FDAR, A. C. J. ( ORAL) The pet i t i on i s al l owed t o be wi t hdr awn wi t h l i ber t y t o avai l t he al t er nat e r emedy under t he Secur i t i zat i on and Reconst r uct i on of Fi nanci al Asset s and Enf or cement of Secur i t y I nt er est Act , 2002 ( i n shor t SARFAESI Act ) . 2.

The onl y concessi on t hat we ar e i ncl i ned t o gr ant t o t he pet i t i oner s i s an oppor t uni t y t o make an appl i cat i on f or i nt er i m r el i ef s bef or e t he Debt s Recover y Tr i bunal . For t hi s pur pose al one we di r ect t he bank not t o encash t he cheque dat ed 25. 06. 2016 t i l l 25. 07. 2016 and f ur t her di r ect t hat t he Di st r i ct Magi st r at e, Ludhi ana shal l adj our n t he hear i ng of t he appl i cat i on under Sect i on of t he SARFAESI Act t i l l

31. 07. 2016. Thi s i s i n vi ew of t he expr ess under t aki ng gi ven t o t he Cour t t hat t he cheque wi l l be honour ed upon pr esent at i on on or af t er 25. 07. 2016.

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

01. 06. 2016 AMODH SHARMA 2016.06.02 12:04 I attest to the accuracy and authenticity of this document chandigarh Amodh