G.K. Industries v. Punjab Financial Corporation

IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH

Civil Writ Petition No.1347 of 2015 (O&M) DATE OF DECISION: 09.02.2015 G.K. Industries .....Petitioner versus Punjab Financial Corporation .....Respondents CORAM:- HON'BLE MR.JUSTICE S.J. VAZIFDAR, ACTING CHIEF JUSTICE HON'BLE MR. JUSTICE AUGUSTINE GEORGE MASIH Present: Mr. Nitin Kant Setia, Advocate for the petitioner ..

S.J. VAZIFDAR, ACTING CHIEF JUSTICE (Oral):

The petitioner seeks an order directing the respondent to restructure the payment schedule as well as to reduce the rate of interest that was stipulated in an offer of one-time settlement made by the respondent to the petitioner. 2.

It is not open to us to pass such directions. That is a matter of negotiations between the parties. The petitioner is always entitled to raise its defence in any proceedings that the respondents may adopt. In any event, there is no warrant for interference in writ jurisdiction.

3.

Dismissed.

Dismissal of this writ petition does not prevent the respondent from considering any proposal that the writ petitioner may make.

(S.J. VAZIFDAR) ACTING CHIEF JUSTICE 09.02.2015 (AUGUSTINE GEORGE MASIH) parkash* JUDGE PARKASH CHAND 2015.02.10 14:13 I attest to the accuracy and authenticity of this document