Mannat Enterprises And Ors vs Hdb Financial Services Ltd And Anr
2023 Latest Caselaw 12717 P&H

MANPREET SINGH
2023.08.16 17:22

CWP-15970-2023 (O&M) 2023:PHHC:103935-DB

IN THE HIGH COURT OF PUNJAB AND HARYANA
AT CHANDIGARH

(115) CWP-15970-2023 (O&M)
Date of Decision: 10.08.2023
Mannat Enterprises and others ...Petitioners
Versus

HDB Financial Services and another ...Respondents

CORAM: HON'BLE MRS. JUSTICE LISA GILL HON'BLE MRS. JUSTICE RITU TAGORE

Present: Mr. Pawan Kumar, Advocate for the petitioners.

Mr. Vipul Dharmani, Advocate and Mr. Puru Gupta, Advocate with Mr. Naval Kishore, Legal Manager for respondents No.1 and 2.

3 2 ie ok LISA GILL, J (ORAL)

1. Prayer in this writ petition is for quashing notice dated

16.02.2023 (Annexure P-5) issued by respondents under Section 13 (4) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short 'SARFAESI Act'), notice dated 14.06.2023 (Annexure P-7) issued by respondent No.2, under Section 13 (2) of the SARFAESI Act and order dated 02.02.2023 by which loan account of the petitioners was declared Non Performing Asset (NPA).

2. Learned counsel for the petitioners submits that he has instructions to withdraw this writ petition with liberty to the petitioners to avail remedy/remedies available to them under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act,

2002.

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CWP-15970-2023 (O&M) 2023:PHHC:103935-DB

3. Writ petition is accordingly dismissed as withdrawn with the

liberty as aforesaid.

4. Pending miscellaneous applications, if any, stand disposed of accordingly.

(LISA GILL) JUDGE (RITU TAGORE) JUDGE August 10, 2023 Manpreet Whether speaking/reasoned --:: Yes/No Whether reportable : Yes/No

MANPREET SINGH

2023.08.16 17:22

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