- (1.) The petitioner has filed this writ petition making prayer for restraining the respondents from auctioning the mortgaged property of the petitioner bearing khasra No. 130/4 min measuring 216.66 sq. yds. situated in village Pandori Wariach, Bye pass road Amritsar. The plea is that the petitioner had already deposited sum of Rs. 2,65,000/- over and above the payment earlier made, which was in full and final settlement, in view of the acknowledgment of debt dated 13.01.2009 and letter dated 17.04.2009. The petitioner had rather prayed for restraining the respondents from enchasing cheque of Rs. 2.65 lakhs till the proceedings under The Securitization and ''Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as 'Act') are withdrawn or alternatively directing the respondents to release the sale deed. While issuing notice of motion on 01.05.2009, this Court passed the following order:Meanwhile, all proceedings under Section 13 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 against the petitioner shall remain stayed. However, the cheque dated 30.04.2009 in the sum of Rs. 2,65,000/- given by the petitioner towards full and final settlement may be encashed by the respondent-Bank but with a clear undertaking that thereafter no claim shall survive against the petitioner.
(2.) Concededly, the Bank has encashed cheque of Rs. 2,65,000/- on 04.05.2009. As per the counsel for the petitioner, the above order was brought to the notice of the Bank on 03.05.2009. Of course, the counsel for the Bank would dispute this fact Out of sum of Rs. 6,30,000/- sanctioned as Home loan in favour of the petitioner he had utilized only Rs. 3,38,000/-. On account of some default on his part, the proceedings under Section 13(2) and (3) of the Act were commenced against the petitioner on 17.11.2008. The petitioner approached the Bank for one time settlement when the Bank issued the Debt certificate showing Rs. 2,73,659/- as payable amount. Thereafter, the petitioner paid sum of Rs. 75,000/- and finally settled at Rs. 2,73,387/- on 14.032009. The petitioner had then issued a post dated cheque of Rs. 2,65,000/- payable on 30.042009 though the amount shown due against him was Rs. 1,98,100/-. Since the Bank was pursuing for auctioning the mortgaged property, the petitioner had filed the present writ petition.
(3.) In addition, the petitioner had also taken personal loan (Corpmittar) of Rs. 50,000/-. The above noted interim order came to be passed on the basis of document to which attention of the Court was drawn by the petitioner. Even now, Annexure R-3 has been placed on record in form of reply, where closing balance shown against the petitioner is Rs. 1,98,501/-. The document placed on record by the bank also shows that the amount of Rs. 2,65,000/- has been credited, to the account of the petitioner. By way of interim measure, the petitioner was required to deposit another sum of Rs. 40,000/- within 10 days to show his bona fides.;