High Court of Punjab and HaryanaCWP/13002/2018disposed of

M/S A K Traders Thru Its Prop And ANR. v. State Bank Of India And ORS.

2018-10-01Mr. Justice R.C. Kathuria (Retd.),Ms. Justice Ritu Bahri2 pages

IN THE HIGH COURT OF PUNJAB AND HARYANA

AT CHANDIGARH CWP No. 13002 of 2018 Decided on : 01.10.2018 M/s A.K. Traders and another . . . 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. R.V.S. Chugh, Advocate for the petitioner(s).

Mr. Gaurav Goel, Advocate for respondents No.1 to 3 - Bank.

**** AJAY KUMAR MITTAL, J. (Oral) The petitioners have approached this Court under Articles 226/227 of the Constitution of India, seeking a writ in the nature of Certiorari, for quashing the order dated 05th April, 2018 (Annexure P-9), whereby, respondent No.4 has ordered to take the actual physical possession of the residential house/property from the petitioners and respondent No.5 has been deputed for this purpose. Petitioners have also prayed for issuing directions to the respondents - Bank to accept the overdue amount in both loan accounts from them along with other EMI/Interest, cost and charges incurred by Bank upto date and regularized the said loan accounts. A further prayer has been made that respondents be directed not to take physical possession and auction the property in question as well as to withdraw the proceedings initiated under the provisions of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (in short 'the Act').

Learned counsel for the respondent-Bank has produced a copy of the communication dated 20th September, 2018, addressed to petitioner No.1, intimating therein that One Time Settlement (OTS) proposal submitted by the JAWALA RAM 2018.10.04 15:02 I attest to the accuracy and authenticity of this document Chandigarh

CWP No. 13002 of 2018 - 2 - petitioners has been accepted. The said communication is taken on record, subject to all just exceptions.

In view of the above, learned counsel for the petitioners states that the petitioner shall abide by the terms of the aforesaid settlement. Accordingly, the present writ petition has been rendered infructuous and may be disposed of as such.

Ordered accordingly.

(AJAY KUMAR MITTAL) JUDGE (AVNEESH JHINGAN) JUDGE October 01, 2018 J.Ram Whether speaking/reasoned:

Yes/No Whether Reportable:

Yes/No JAWALA RAM 2018.10.04 15:02 I attest to the accuracy and authenticity of this document Chandigarh