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High Court of Punjab and HaryanaCWP/19243/2016dismissed

New Pawan Jewellers And Another v. Indian Overseas Bank, Model Town Brach, Ludhiana

2016-09-16Mr. Justice Surinder Gupta,Mrs. Justice Manjari Nehru Kaul2 pages

IN THE HIGH COURT OF PUNJAB AND HARYANA

AT CHANDIGARH Civil Writ Petition No.19243 of 2016 Date of decision: September 16, 2016 New Pawan Jewellers and another ....Petitioners versus Indian Overseas Bank

...Respondent

CORAM:

HON'BLE MR. JUSTICE AJAY KUMAR MITTAL HON'BLE MR. JUSTICE HARI PAL VERMA *****

Present:

Mr. Amit Jhanji, Advocate for the petitioners. ***** AJAY KUMAR MITTAL, J. (Oral) 1.

In the instant writ petition filed under Articles 226/227 of the Constitution of India, the petitioners have prayed for issuance of a writ in the nature of certiorari for quashing the sale notice dated 22.08.2016 (Annexure P-5) issued by the respondent-Bank under Rules 8(5) and 9(1) of the Security Interest (Enforcement) Rules, 2002 for the sale of the properties owned by petitioner No.2 on the ground that petitioner No.1 had availed the loan facilities under the Credit Guarantee Trust for Micro and Small Enterprises (in short 'the CGTSME Scheme') (Annexure P-2) vide which no collateral security is taken for the facilities granted to the borrowers and specially in pursuance of sanction advice dated 03.01.2013 (Annexure P-1).

2.

After arguing for sometime, learned counsel for the petitioners states that he may be allowed to withdraw the present writ Sonia Kinra 2016.09.19 12:59 I attest to the accuracy and integrity of this document High Court, Chandigarh

Civil Writ Petition No.19243 of 2016 -2- ----- petition. However, a prayer was made that liberty be granted to the petitioners to take recourse to the remedies as may be available to them, in accordance with law.

3.

Dismissed as withdrawn. It shall, however, be open to the petitioners to take recourse to the remedies as may be available to them, in accordance with law.

(AJAY KUMAR MITTAL) JUDGE (HARI PAL VERMA) September 16, 2016 JUDGE sonia gugnani Whether speaking/reasoned?

Yes/No Whether reportable?

Yes/No Sonia Kinra 2016.09.19 12:59 I attest to the accuracy and integrity of this document High Court, Chandigarh