Jain Peripheral Pvt Ltd And ORS v. Punjab National Bank And ANR

IN THE HIGH COURT OF PUNJAB AND HARYANA AT

CHANDIGARH Civil Writ Petition No. 7613 of 2015(O&M) Date of Decision: April 24 , 2015.

Jain Peripheral Pvt. Ltd. and others ...... PETITIONER (s)

Versus

Punjab National Bank and another ...... RESPONDENT (s) CORAM:- HON'BLE MR.JUSTICE HEMANT GUPTA HON'BLE MRS.JUSTICE LISA GILL

Present:

Mr. Vikas Mohan Gupta, Advocate for the petitioners.

***** HEMANT GUPTA, J.

The challenge in the present writ petition is to an order passed by Presiding Officer, Debt Recovery Tribunal-I, Chandigarh on 29.01.2015 whereby liberty was given to the Bank to proceed further for sale of the properties mortgaged by the petitioner.

Admittedly, the petitioner has an effective alternate statutory remedy of an appeal before the Debt Recovery Appellate Tribunal against the impugned order.

In view thereof, we do not find any ground to interfere in the present writ petition when an effective statutory remedy is available to the petitioner. Dismissed.

However, liberty is granted to the petitioner to avail other remedies as may be available to it.

( HEMANT GUPTA ) JUDGE ( LISA GILL ) April 24, 2015.

JUDGE 'om'

OMKAR SINGH 2015.04.27 15:01 I attest to the accuracy and authenticity of this document Chandigarh