1 CWP-4680 of 2021 (O&M) IN THE HIGH COURT OF PUNJAB & HARYANA AT CHANDIGARH CWP-4680 of 2021(O&M) Date of decision: 11.12.2025 GAURAV SHARMA AND OTHERS Petitioners V/S PUNJAB & SINDH BANK ……Respondents CORAM: HON’BLE MR. JUSTICE SHEEL NAGU, CHIEF JUSTICE HON’BLE MR. JUSTICE SANJIV BERRY, JUDGE Present:- Mr. Ishaan Bhardwaj, Advocate for the petitioners/Borrowers. Mr. Simranjot Singh, Advocate for Mr. R.K. Jindal, Advocate for the respondent/Bank. **** SHEEL NAGU, CHIEF JUSTICE (Oral) 1. In the present petition, the petitioners/borrowers have challenged the notice dated 07.03.2018 (Annexure P-1) issued u/s 13(2) and notice dated 25.02.2020 (Annexure P-3) issued u/s 13(4) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short, ‘SARFAESI Act’), without first availing the alternative remedy of approaching the Debts Recovery Tribunal (for short, ‘DRT’). 2. This petition is pending since 2021 and the conditions subject to which the interim order was passed on 16.03.2021 have not been complied with by the petitioners/borrowers. Consequently, there is no restraint order operating against the respondent/Bank from proceeding to liquidate the secured asset. 3. The respondent/Bank has not issued any auction notice till date, and therefore, the right of redemption of the petitioners/borrowers continues to subsist. KAMAL GANDHI 2025.12.11 17:23 I attest to the accuracy and integrity of this document 2 CWP-4680 of 2021 (O&M) 4. At this stage, learned counsel for petitioners pray for withdrawal of the present petition in order to avail the statutory remedy before the DRT. 5. With the aforesaid liberty, present petition is dismissed as withdrawn. 6. All pending civil miscellaneous applications, if any, also stand disposed of. (SHEEL NAGU) CHIEF JUSTICE (SANJIV BERRY) JUDGE 11.12.2025 Kamal Gandhi Whether speaking/reasoned Yes/No Whether reportable Yes/No KAMAL GANDHI 2025.12.11 17:23 I attest to the accuracy and integrity of this document