Mittaso India Pvt Ltd And ORS v. State Bank Of Patiala

IN THE HIGH COURT OF PUNJAB AND HARYANA

AT CHANDIGARH CWP No. 20932 of 2018 Decided on : 21.01.2019 M/s Mittaso India Pvt. Ltd. and others . . . Petitioner(s)

Versus

State Bank of Patiala . . . Respondent(s) CORAM: HON'BLE MR. JUSTICE AJAY KUMAR MITTAL HON'BLE MRS. JUSTICE MANJARI NEHRU KAUL PRESENT: Mr. Chanderhas Yadav, Advocate for the petitioner(s).

**** AJAY KUMAR MITTAL, J. (Oral) The petitioners have approached this Court under Articles 226/227 of the Constitution of India, seeking quashing of the order dated 03.05.2018 (Annexure P-21). A further prayer for directing the respondent-bank for not taking the coercive steps against the petitioners, has been made, as they had already paid the whole amount on account of principal, interest as well as penalty. 2.

Learned counsel for the petitioners inter alia submitted that the rate of interest awarded by the Debts Recovery Appellate Tribunal (in short 'the Tribunal'), Delhi, @ 9.65% p.a. with monthly rests, is against the agreement. 3.

After arguing for sometime, learned counsel for the petitioners submitted that he may be allowed to withdraw the present writ petition with liberty to the petitioners to take recourse to the alternative remedies as may be available to them, in accordance with law.

4.

Dismissed as withdrawn.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 (MANJARI NEHRU KAUL) JUDGE January 21, 2019 J.Ram Whether speaking/reasoned: Yes/No Whether Reportable: Yes/No JAWALA RAM 2019.01.22 11:43 I attest to the accuracy and authenticity of this document Chandigarh