M/S Guru Harikishan Industry And ORS v. State Bank Of India And ORS

IN THE HIGH COURT OF PUNJAB AND HARYANA

AT CHANDIGARH CWP No. 12006 of 2018 Decided on : 12.09.2018 M/s Guru Harikishan Industry and others . . . Petitioner(s)

Versus

State Bank of India and others . . . Respondent(s) CORAM: HON'BLE MR. JUSTICE AJAY KUMAR MITTAL HON'BLE MR. JUSTICE AVNEESH JHINGAN PRESENT: Mr. Vinay Pandey, Advocate for the petitioner(s).

Mr. Gaurav Goel, Advocate for respondent No.1 - Bank.

Mr. Ayuwan Singh, Asstt. AG, Haryana.

**** AJAY KUMAR MITTAL, J. (Oral) The petitioners have approached this Court under Articles 226/227 of the Constitution of India, inter alia, seeking direction to respondent No.1 not to take any coercive measures against the petitioners in order to recover the loan taken by petitioner No.1 and not to take over the possession of the petitioners industry and also to stay further proceedings in terms of notice dated 07.03.2017 (Annexure P-1) vide which proceedings under the Securitization and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (in short 'the Act') has been initiated. 2.

Learned counsel for respondent No.1 - Bank states that under the OTS Scheme "Rinn Samadhan 2018-19", the dispute has been resolved with the petitioners and the petitioners/borrowers have deposited the dues under the said scheme. Accordingly, it was prayed that the present writ petition has been rendered infructuous and may be disposed of as such.

3.

Ordered accordingly.

(AJAY KUMAR MITTAL) JUDGE (AVNEESH JHINGAN) JUDGE September 12, 2018 J.Ram Whether speaking/reasoned:

Yes/No Whether Reportable:

Yes/No JAWALA RAM 2018.09.13 16:29 I attest to the accuracy and authenticity of this document Chandigarh