R K CEMENTS Vs. PUNJAB NATIONAL BANK

JUDGEMENT

(1.) Petitioner, by means of this petition, seeks to quash communication No. Misc/PA/JB/33A dated 11-3-2003, by issuance of a writ of certiorari, inter alia, alleging that the respondents have threatened to take forcible possession of the secured assets explicitly detailed in the notice for non-payment of the bank dues and that the respondents have resorted to coercive measures in utter disregard of the process of settlement of loan account, being under way, in which the petitioner has been afforded an opportunity to submit his request/proposal for settlement of Non-Performing Assets account up to 30-4-2003.

(2.) A prayer has also been made by the petitioner to restrain the respondents through the mandate of the Court in effecting any recoveries under the provisions of Securitlsation and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002, till the insurance claim of the firm is finally settled by the Insurance Company.

(3.) Detailed objections have been filed by the respondents in submitting that the impugned communication has been issued by the competent authority. In absence of any irregularity or illegality committed by the respondents, in issuing such communication, judicial review is not permissible.