Pargat Singh And ANR v. Assets Reconstruction Company India Ltd (Arcil) And ANR

IN THE HIGH COURT OF PUNJAB AND HARYANA

AT CHANDIGARH CWP-14442-2018 Date of Decision: May 31, 2018 Pargat Singh and another .....Petitioners

Versus

Assets Reconstruction Company India Ltd. and another ......Respondents CORAM: HON'BLE MR.JUSTICE SURYA KANT HON'BLE MR. JUSTICE SHEKHER DHAWAN

Present:

Mr.Vishal Handa, Advocate for the petitioners. ........

SURYA KANT, J.

The petitioners are disputing the rate and the manner the interest is alleged to have been levied on the house loan amounting to `2,72,515/- availed by them in the year 2005. Both these being factual issues, it appears to us that appropriate recourse for the petitioners is to avail the alternative remedy, namely, to approach the Debts Recovery Tribunal. However, with a view to enable the petitioners to approach the alternative Forum, status quo re: physical possession of the house is directed to be maintained for four weeks subject to their depositing of `1.00 lac within one month. [2] Disposed of.

( SURYA KANT ) JUDGE May 31, 2018 ( SHEKHER DHAWAN ) meenuss JUDGE 1.

Whether speaking/reasoned ?

Yes/No 2.

Whether reportable ?

Yes/No Meenu 2018.06.01 14:17 I attest to the accuracy and authenticity of this document chandigarh