Helios Photo Voltaic Ltd. v. Oriental Bank Of Commerce And ORS

IN THE HIGH COURT OF PUNJAB AND HARYANA

AT CHANDIGARH CWP No. 22826 of 2018 Decided on : 10.09.2018 Helios Photo Voltaic Ltd.

. . . Petitioner(s)

Versus

Oriental Bank of Commerce and others . . . Respondent(s) CORAM: HON'BLE MR. JUSTICE AJAY KUMAR MITTAL HON'BLE MR. JUSTICE AVNEESH JHINGAN PRESENT: Mr. Ashwani Kumar Chopra, Sr. Advocate with Mr. Manish Jain, Advocate, Mr. Varsha Banerjee, Advocate, Mr. Mayur Kanwar, Advocate, Mr. Ashutosh Jerath, Advocate and Mr. Eesha Khanna, Advocate for the petitioner(s). **** AJAY KUMAR MITTAL, J. (Oral) The petitioner has approached this Court under Articles 226/227 of the Constitution of India, seeking direction to respondent No.4 to announce the policy for Resolution of Stressed Assets in terms of Circular DBR.No.BP.BC.101/21.04.048/2017-18, dated February 12, 2018 (Annexure P-1), issued by the Reserve Bank of India as well as direction to respondent No.2 to continue with the power purchase agreement dated 15.10.2010 (Annexure P-2). 2.

After arguing for sometime, learned counsel for the petitioner submitted that he may be allowed to withdraw the present writ petition with liberty to the petitioner to take all the pleas as raised in the present writ petition before the National Company Law Tribunal (NCLT), New Delhi. 3.

Dismissed as withdrawn. It shall, however, be open to the petitioner to take recourse to the remedies as may be available to it, in accordance with law. (AJAY KUMAR MITTAL) JUDGE (AVNEESH JHINGAN) JUDGE September 10, 2018 J.Ram Whether speaking/reasoned:

Yes/No Whether Reportable:

Yes/No JAWALA RAM 2018.09.11 16:06 I attest to the accuracy and authenticity of this document Chandigarh