- (1.) The prayer in this petition inter alia is for restraining the respondent bank to declare the account of petitioner as a Non Performing Asset under the Securitisation and Reconstruction of Financial Assests and Enforcement of Security Interest Act, 2002 on account of the liquidation of the security/bank guarantee No. 358601GL0000210 dated 21.01.2010 as the same has been released in the violation of the stay order dated 22.05.2012 (Annexure P3) passed by the Additional District Judge, Patiala.
(2.) After arguing for some time, learned counsel for the petitioner submitted that he may be allowed to withdraw the present petition with liberty to the petitioner to first approach the respondent-bank or to avail the alternate remedy available to it in accordance with law.
(3.) Dismissed as withdrawn. It shall, however, be open to the petitioner to take recourse to the remedies available to it in accordance with law.;