Punjab-Haryana High Court
M/S Teji Industries vs State Bank Of India on 9 January, 2024
Author: Lisa Gill
Bench: Lisa Gill
Neutral Citation No:=2024:PHHC:006051-DB
CWP-13327 of 2021(O&M) 1
IN THE HIGH COURT OF PUNJAB AND HARYANA
AT CHANDIGARH
2024:PHHC:006051-DB
CWP-13327 of 2021(O&M)
Date of decision : January 09,2024
1. M/s Teji Industries
...... Petitioner
Versus
State Bank of India
...... Respondent
CWP-13983 of 2021(O&M)
2. M/s Shaktiman Cements Limited
...... Petitioner
Versus
State Bank of India
...... Respondent
CWP-13986 of 2021(O&M)
3. M/s Oberoi Automobiles Private Limited and another
...... Petitioner
Versus
State Bank of India
...... Respondent
CWP-14003 of 2021(O&M)
4. M/s Shiv Shakti Enterprises and another
...... Petitioner
Versus
State Bank of India
...... Respondent
CWP-14052 of 2021(O&M)
5. M/s Oberoi Automobiles Private Limited and another
......
Petitioner
Versus
State Bank of India
...... Respondent
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CWP-13327 of 2021(O&M) 2
CWP-14165 of 2021(O&M)
6. M/s Murlidhar and Company ...... Petitioner
Versus
State Bank of India
...... Respondent
CWP-15718 of 2021(O&M)
7. M/sGupta Rice Mill ...... Petitioner
Versus
State Bank of India
...... Respondent
CWP-20253 of 2021(O&M)
8. Narinder Pal Singh Bindra and another ...... Petitioner
Versus
Punjab and Sind Bank and another
...... Respondent
CWP-2243 of 2020(O&M)
9. M/s Shaktiman Cements Limited ...... Petitioner
Versus
District Magistrate Yamuna Nagar and another
...... Respondent
CWP-4163 of 2020(O&M)
10. M/s Oberoi Automobiles Private Limited and another
...... Petitioner
Versus
District Magistrate Yamuna Nagar and another
...... Respondent
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Neutral Citation No:=2024:PHHC:006051-DB
CWP-13327 of 2021(O&M) 3
CORAM : HON'BLE MRS. JUSTICE LISA GILL
HON'BLE MRS. JUSTICE AMARJOT BHATTI
***
Present :- Mr. Aalok Jagga, Advocate,
for the petitioner in CWP-13983,13986,
14003,14052,14165,15178-2021,
CWP-2243, 4163-2020.
Mr. Puneet Jain, Advocate
Mr. Onkar Rai, Advocate
for the petitioner in CWP-13434-2021
Ms. Manpreet, Advocate for
Mr. Saurabh Bajaj, Advocate
for the petitioner in CWP-21290-2021.
Mr. Sukhdeep Singh, Advocate
for the petitioner in CWP-13327-2021.
Mr. Kamaldeep S. Sidhu, Advocate
for the petitioner in CWP-20253-2021.
Mr. Gaurav Goel, Advocate for respondent No. 1
in CWP-20253-2021
Mr. Vikas Chatrath, Advocate for
Respondent-Bank in CWP-4163-2020, 2243-2020.
Mr. Anupam Gupta, Senior Advocate with
Mr. Akshay Jain, Advocate and
Ms. Madhu Dayal, Advocate
for the respondent (SBI).
***
LISA GILL, J. (ORAL)
1. This order shall dispose of all the above mentioned writ
petitions which had been consolidated vide earlier orders as identical issue
was involved for adjudication therein i.e. right of guarantor/borrowers to
claim extension of time for deposit of remaining balance amount in terms of
sanctioned One Time Settlement (OTS) between them and respondent-Bank
and their entitlement to seek a direction for the same in this regard.
2. Learned counsel for respondent-Bank submits that the matter is
squarely covered by the judgment of Hon'ble the Supreme Court in State
Bank of India Vs. Arvindra Electronics Pvt. Ltd.,2023 (1) SCC 540.
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Neutral Citation No:=2024:PHHC:006051-DB
3. Learned counsel for the petitioners are unable to deny that the
controversy is squarely covered against the petitioners in view of judgments
of Hon'ble the Supreme Court in The Bijnor Urban Cooperative Bank
Limited, Bijnor and others Vs. Meenal Aggarwal and others, 2022 AIR
(SC) 56 State Bank of India Vs. Arvindra Electronics Pvt. Ltd.,2023 (1)
SCC540. wherein it has been held that a borrower/guarantor has no vested
right to claim OTS and that financial institution/bank should not be directed
to positively grant benefit of OTS to a borrower and neither can extension of
time granted in terms of an OTS be directed to be afforded as it would
tantamount to rewriting/modification of contract.
4. Keeping in view the circumstances as above all the writ
petitions are dismissed. Needless to say it is always open to parties to enter
in a mutually acceptable settlement.
5. A photocopy of this order be placed on files of other connected
cases.
( LISA GILL)
JUDGE
(AMARJOT BHATTI)
JUDGE
January 09,2024
archana
Whether speaking/reasoned Yes/No
Whether Reportable Yes/No
Neutral Citation No:=2024:PHHC:006051-DB
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