High Court of Punjab and Haryana, Chandigarh
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M/S Relaxy Ice Cream & Anr v. Citizen Urban Co-Op. Bank Ltd. and anoth - CWP-18761-2005  RD-P&H 2880 (4 May 2006)
CIVIL WRIT PETITION NO. 18761 OF 2005
DATE OF DECISION: MAY 15, 2006
M/S Relaxy Ice Cream and another
Citizen Urban Co-Op. Bank Ltd. and another ...RESPONDENTS
CORAM: HON'BLE MR. JUSTICE JASBIR SINGH
HON'BLE MR. JUSTICE VINOD K. SHARMA
PRESENT: Ms. Jyoti Sareen,
Advocate, for the petitioners.
Mr. Ashwani Parashar, Advocate,
for Mr. D.V.Sharma, Advocate, for the respondents.
Challenge in this writ petition is to the demand notice dated August 29, 2005 (Annexure P-4), issued by the respondents under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. This Court feels that the writ petition is premature. As and when further action is initiated by the respondents, remedy is available to the petitioners before the Debt Recovery Tribunal. It has also been brought to the notice of this Court that the respondent- Bank has gone in for arbitration. Otherwise also, there is serious dispute on facts, which cannot be gone into by this Court under Articles 226/227 of the Constitution of India. Dismissed.
( Jasbir Singh )
( Vinod K. Sharma )
May 15, 2006. Judge
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