IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH 119 YASHU JAIN AND OTHERS CHIEF MAGISTRATE LUDHIANA AND OTHERS CORAM: HON’BLE MR. JUSTICE ANUPINDER SINGH GREWAL HON’BLE MR. JUSTICE DEEPAK MANCHANDA Present: Mr. Mr. Baljinder Singh Sra, Ad Mr. Dhanesh Kumar Singal, Advocate for respondent ANUPINDER SINGH GREWAL, J. (ORAL) Learned counsel for the petitioners submits that the petitioners are willing to pay the entire outstanding amount towards set out in paragraph No.3 of the house has been mortgaged. 2. Issue notice to the respondents. 3. At the asking of the Court, Mr. Advocate General, Punjab and Mr. appearance on behalf o respondent No.2 submits that in the event of Rs.20 lakhs on or before 03.06.2025 and th on or before 30.06.2025, the secured asset would be released and the proceedings initiated under the SA accounts, against IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH CWP-16086-2025 DATE OF DECISION: 28.05.2025 YASHU JAIN AND OTHERS Versus CHIEF MAGISTRATE LUDHIANA AND OTHERS HON’BLE MR. JUSTICE ANUPINDER SINGH GREWAL HON’BLE MR. JUSTICE DEEPAK MANCHANDA Mr. Nitin Grover, Advocate for the petitioner Mr. Baljinder Singh Sra, Additional A.G., Punjab. Mr. Dhanesh Kumar Singal, Advocate for respondent ANUPINDER SINGH GREWAL, J. (ORAL) Learned counsel for the petitioners submits that the petitioners are willing to pay the entire outstanding amount towards set out in paragraph No.3 of the writ petition against which their sole residential house has been mortgaged. Issue notice to the respondents. At the asking of the Court, Mr. Baljinder Singh Sra, Additional Advocate General, Punjab and Mr. Dhanesh Kumar Singal, Advocate puts in appearance on behalf of respondents No.1 & 2 respectively ent No.2 submits that in the event of the or before 03.06.2025 and the balance amount of Rs.30,21,500/ on or before 30.06.2025, the secured asset would be released and the initiated under the SARFAESI Act pertaining to against which the house has been mortgaged IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH 2025 DATE OF DECISION: 28.05.2025 … Petitioner (s) CHIEF MAGISTRATE LUDHIANA AND OTHERS ... Respondent(s) HON’BLE MR. JUSTICE ANUPINDER SINGH GREWAL HON’BLE MR. JUSTICE DEEPAK MANCHANDA , Advocate for the petitioners. ditional A.G., Punjab. Mr. Dhanesh Kumar Singal, Advocate for respondent No.2. Learned counsel for the petitioners submits that the petitioners are willing to pay the entire outstanding amount towards the three loan accounts as petition against which their sole residential Baljinder Singh Sra, Additional Dhanesh Kumar Singal, Advocate puts in respectively. Learned counsel for the petitioners paying a sum of e balance amount of Rs.30,21,500/- on or before 30.06.2025, the secured asset would be released and the RFAESI Act pertaining to the three loan mortgaged, would be dropped. ... Respondent(s) Learned counsel for the petitioners submits that the petitioners are accounts as petition against which their sole residential Baljinder Singh Sra, Additional Dhanesh Kumar Singal, Advocate puts in for paying a sum of - on or before 30.06.2025, the secured asset would be released and the ree loan SWARNJIT SINGH 2025.05.28 17:39 I attest to the accuracy and integrity of this document CWP-16086-2025 4. Learned counsel for the would pay a sum of Rs.20 of Rs.30,21,500/- 5. Heard. 6. In view of the limited prayer, the petition is disposed of with a direction that in the event of the amount as per the the petitioners and details of which are However, in the event of the aforenoted schedule, the the SARFAESI Act. 28.05.2025 SwarnjitS Whether speaking/reasoned Whether reportable 2025 Learned counsel for the petitioners a sum of Rs.20 lakhs on or before 03.06.2025 and th - on or before 30.06.2025. Heard. In view of the limited prayer, the petition is disposed of with a n the event of the petitioners making amount as per the aforenoted schedule, the secured asset would be released and SARFAESI proceedings pertaining to details of which are set out in paragraph No.3 of the writ owever, in the event of the petitioners failing to make aforenoted schedule, the respondent/Bank would be at liberty to proceed under the SARFAESI Act. (ANUPINDER SINGH GREWAL) (DEEPAK MANCHANDA) Whether speaking/reasoned : Yes / No Whether reportable : Yes / No -2- s undertakes that the petitioners or before 03.06.2025 and the balance amount In view of the limited prayer, the petition is disposed of with a making payment of the outstanding e, the secured asset would be released to proceedings pertaining to the three loan accounts, t out in paragraph No.3 of the writ petition would dropped. failing to make payment as per the Bank would be at liberty to proceed under (ANUPINDER SINGH GREWAL) JUDGE (DEEPAK MANCHANDA) JUDGE Yes / No es / No s e balance amount In view of the limited prayer, the petition is disposed of with a outstanding to , . payment as per the Bank would be at liberty to proceed under SWARNJIT SINGH 2025.05.28 17:39 I attest to the accuracy and integrity of this document