CWP No.8745 of 2025 (O&M) 107 IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH CWP No.8745 of 2025 (O&M) Date of Decision: 02.05.2025 SUSHMA DEVI AND OTHERS .....Petitioners Versus VARTHANA FINANCE PRIVATE LIMITED ........Respondent CORAM : HON'BLE MR. JUSTICE ANUPINDER SINGH GREWAL HON'BLE MR. JUSTICE DEEPAK MANCHANDA Present: None for the petitioners. Mr. Nitin Thatai, Advocate and Ms. Monika Thatai, Advocate for the respondent. * * * * * ANUPINDER SINGH GREWAL, J. (Oral) The matter has been called twice, but no one has put in appearance on behalf of the petitioners. On 09.04.2025, this Court had passed the following order: “Learned counsel for the respondent submits that the keys of secured asset are with the Bank and the petitioners may collect the same and retake the possession of the secured asset in terms of the order dated 28.03.2025. The insurance policy document has been furnished to the petitioners. The petitioners may pay the outstanding amount of Rs.2,82,000/- by 30.04.2025 failing which the Bank shall take steps under the SARFAESI Act. Learned counsel for the petitioners submits that he has received the insurance policy document and would pay the outstanding amount of Rs.2,82,000/- by 30.04.2025. List on 02.05.2025.” 1 SANDEEP KUMAR 2025.05.02 14:30 I attest to the accuracy and integrity of this order/judgment. CWP No.8745 of 2025 (O&M) 2. Learned counsel for the respondent submits that in pursuance of the order dated 09.04.2025, the petitioners had paid a sum of Rs.1,30,000/-, although, they ought to have paid the entire amount of Rs.2,82,000/- by 30.04.2025. He upon instructions from Mr. Raman Arora, Authorized Officer of the respondent, submits that if the petitioners make the payment of the balance amount of Rs.1,52,000/- within a period of 15 days, the possession of the secured asset would be handed over to them. 3. In the aforenoted facts and circumstances, we deem it appropriate to dispose of this petition with a direction that the petitioners shall make payment of the balance amount of Rs.1,52,000/- on or before 17.05.2025 and in that eventuality, the respondent would hand over the possession of the secured asset to the petitioners immediately and issue NOC in this regard. If, however, the petitioners do not make payment of the aforesaid balance amount by 17.05.2025, the respondent would be at liberty to retain the possession of the secured asset and proceed under the SARFAESI Act. 4. The petition stands disposed of in the aforesaid terms. 5. Learned counsel for the respondent shall intimate learned counsel for the petitioners about the order of this Court, today itself. (ANUPINDER SINGH GREWAL) JUDGE (DEEPAK MANCHANDA) 02.05.2025 JUDGE sandeep Whether Speaking/Reasoned : Yes/No Whether Reportable : Yes/No 2 SANDEEP KUMAR 2025.05.02 14:30 I attest to the accuracy and integrity of this order/judgment.