Getwell Medicine And ORS v. Idfc First Bank Ltd

CWP-16934 of 2022 (O&M)

IN THE HIGH COURT OF PUNJAB & HARYANA

AT CHANDIGARH CWP-16934 of 2022(O&M) Date of decision: 29.01.2026 GETWELL MEDICINE AND ORS ....Petitioners V/S IDFC FIRST BANK LTD ... Respondents CORAM: HON'BLE MR. JUSTICE SHEEL NAGU, CHIEF JUSTICE HON'BLE MR. JUSTICE SANJIV BERRY, JUDGE

Present:

Mr. Mayur Singla, Advocate (Arguing Counsel) Mr. Abhivadya Sood, Advocate for the petitioner. Ms. Divya Arora, Advocate for Mr. Aditya Grover, Advocate for respondent/Bank. **** SHEEL NAGU, CHIEF JUSTICE (Oral) 1.

Challenge in the present petition is to the order dated 09.06.2022 passed u/s 14 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short 'SARFAESI Act') by the Additional District Magistrate, Patiala.

2.

Learned counsel for petitioner submits that the settlement process for closure of the loan account is under consideration, which fact is not denied by learned counsel for the respondent-Bank.

3.

This Court, therefore, disposes of the present petition with a direction that in case the settlement does not materialise within a period of 30 days from the date of passing of this order, respondent-Bank shall be at liberty to liquidate the secured assets and recover its dues in accordance with law. 4.

The petitioner shall, however, be at liberty to challenge the order dated 09.06.2022 passed u/s 14 of the SARFAESI Act by the Additional District KAMAL GANDHI 2026.01.30 15:46 I attest to the accuracy and integrity of this document

CWP-16934 of 2022 (O&M) Magistrate, Patiala before the Debts Recovery Tribunal u/s 17 of the SARFAESI Act.

5.

All pending application(s), if any, also stand disposed of. 1.

(SHEEL NAGU) CHIEF JUSTICE (SANJIV BERRY) JUDGE 29.01.2026 Kamal Gandhi Whether speaking/reasoned Yes/No Whether reportable Yes/No KAMAL GANDHI 2026.01.30 15:46 I attest to the accuracy and integrity of this document