HEMKUND ELECTRONICS Vs. STATE BANK OF INDIA

JUDGEMENT

(1.) THIS writ petition has been filed to issue a suitable writ, order or direction in the nature of mandamus directing the respondents to open the locks illegally put by them in the shops of the petitioners forthwith. Prayer has also been made for mandamus of this Court allowing the petitioner to pay entire balance amount of loan in instalments. Heard.

(2.) LEARNED counsel appearing on behalf of the respondents-Bank Sri D. S. Patni informed the Court that the petitioner had deposited Rs. 4,00,000. 00 and has given an undertaking to deposit rest of the amount upto 28/5/2008. Undertaking was further given by the petitioner that he will not claim any compensation for the period for which the shops were closed due to proceedings under Section 13 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.

(3.) AS per statement of the learned counsel for the respondents-Bank, the Bank is not taking any coercive steps till 28/5/2008 in view of the undertaking given by the petitioner. In the circumstances, the writ petition is dismissed in limine.