IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH 109 KESHAV AGGARWAL AND OTHERS THE AUTHORISED OFFICER ICICI HOME FINANCE LTD AND OTHERS CORAM: HON’BLE MR. JUSTICE ANUPINDER SINGH GREWAL HON’BLE M Present: Mr. Ms. Sushma Verma Mr. Nitin Thatai, Advocate for respondent No.1. Mr. Aftab Singh Khara, Senior DAG, Punjab. ANUPINDER SINGH GREWAL, J. (ORAL) Learned counsel for the petitioners settled with the respondent/Bank for a sum of Rs.80 lakhs and he is filing an affidavit with regard to the schedule of payment terms of the settlement and as sum of Rs.15 lakhs to respondent pay another Rs.35 lakhs by 28.02.2025 and Rs.30 lakhs by 25.03.2025. counsel for the petitioners has filed the 24.01.2025 which is taken on record. any other litigation qua the same property in view of the settlement. In case of any default, the petitioners shall surrender the poss Learned counsel for respondent the petitioners adhering to the aforenoted schedule IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH CWP-2021-2025 DATE OF DECISION: 24.01.2025 KESHAV AGGARWAL AND OTHERS Versus THE AUTHORISED OFFICER ICICI HOME FINANCE LTD AND HON’BLE MR. JUSTICE ANUPINDER SINGH GREWAL HON’BLE MR. JUSTICE VIKRAM AGGARWAL Mr. Sahil Khunger, Advocate and Ms. Sushma Verma, Advocate for the petitioner Mr. Nitin Thatai, Advocate for respondent No.1. Mr. Aftab Singh Khara, Senior DAG, Punjab. ANUPINDER SINGH GREWAL, J. (ORAL) Learned counsel for the petitioners submits that the matter has been settled with the respondent/Bank for a sum of Rs.80 lakhs and he is filing an affidavit with regard to the schedule of payment terms of the settlement and as stated in the affidavit, sum of Rs.15 lakhs to respondent No.1 by 12:00 p.m. on 27.01.2025 pay another Rs.35 lakhs by 28.02.2025 and Rs.30 lakhs by 25.03.2025. counsel for the petitioners has filed the affidavit of the petitioner No.1 dated 24.01.2025 which is taken on record. He further submits that he shall not initiate any other litigation qua the same property in view of the settlement. In case of any default, the petitioners shall surrender the poss Learned counsel for respondent No.1 petitioners adhering to the aforenoted schedule IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH 2025 DECISION: 24.01.2025 … Petitioner (s) THE AUTHORISED OFFICER ICICI HOME FINANCE LTD AND ... Respondent(s) HON’BLE MR. JUSTICE ANUPINDER SINGH GREWAL VIKRAM AGGARWAL , Advocate for the petitioners. Mr. Nitin Thatai, Advocate for respondent No.1. Mr. Aftab Singh Khara, Senior DAG, Punjab. submits that the matter has been settled with the respondent/Bank for a sum of Rs.80 lakhs and he is filing an affidavit with regard to the schedule of payments. He further submits that in stated in the affidavit, the petitioners shall pay a by 12:00 p.m. on 27.01.2025, they shall pay another Rs.35 lakhs by 28.02.2025 and Rs.30 lakhs by 25.03.2025. Learned affidavit of the petitioner No.1 dated He further submits that he shall not initiate any other litigation qua the same property in view of the settlement. In case of any default, the petitioners shall surrender the possession of the secured asset. No.1 submits that in the event of petitioners adhering to the aforenoted schedule of payments and paying the THE AUTHORISED OFFICER ICICI HOME FINANCE LTD AND submits that the matter has been settled with the respondent/Bank for a sum of Rs.80 lakhs and he is filing an in a they shall Learned affidavit of the petitioner No.1 dated He further submits that he shall not initiate any other litigation qua the same property in view of the settlement. In case of in the event of SWARNJIT SINGH 2025.01.25 12:45 I attest to the accuracy and integrity of this document CWP-2021-2025 -2- entire amount as set out in the affidavit by 25.03.2025, the title deeds shall be handed over to them along with ‘No Dues Certificate’. Heard. It is manifest that the parties have arrived at a settlement, and the schedule of payments is clearly set out in the affidavit of petitioner No.1 dated 24.01.2025. In view of the above, the petition is disposed of in terms of the settlement arrived at between the parties. The parties shall adhere to the terms and conditions of the settlement. It is, however, clarified that in the event of the petitioners not adhering to the aforenoted schedule of payments, the respondent/secured creditor shall be at liberty to initiate steps under the SARFAESI Act. (ANUPINDER SINGH GREWAL) JUDGE (VIKRAM AGGARWAL) JUDGE 24.01.2025 SwarnjitS Whether speaking/reasoned : Yes / No Whether reportable : Yes / No SWARNJIT SINGH 2025.01.25 12:45 I attest to the accuracy and integrity of this document