ESHAAN SINGH TAKKAR vs J.C. FLOWERS ASSET RECONSTRUCTION PRIVATE LIMITED COMPANY

CRM-M-23374-2026 (O&M) -1- IN THE HIGH COURT OF PUNJAB & HARYANA AT CHANDIGARH 150 CRM-M-23374-2026 (O&M) Date of decision: 18.05.2026 Eshaan Singh Takkar ...Petitioner Versus J. C. Flowers Asset Reconstruction Pvt. Ltd. Company ...Respondent CORAM: HON'BLE MRS. JUSTICE MANISHA BATRA Present: Mr. Kshitij Sharma, Senior Advocate with Mr. Shobhit Sharma, Advocate for the petitioner. *** MANISHA BATRA, J. (Oral) 1. The present petition has been filed under Section 528 of BNSS, 2023 seeking quashing of complaint No. NACT-745-2025 dated 28.07.2025, titled as J. C. Flowers Asset Reconstruction Pvt. Ltd. v. Kartarz Alloys Private Limited and others, filed under Sections 138, 141 and 142 of the Negotiable Instruments Act, 1881 (for short ‘N. I. Act’) along with all consequential proceedings arising therefrom, including summoning order dated 12.01.2026 passed by the learned trial Court. 2. Brief facts of the case relevant for the purpose of disposal of this petition are that Kartarz Alloys Private Limited had availed certain credit facilities from ICICI Bank Ltd. and the loan account was subsequently declared Non-Performing Asset. Thereafter, proceedings under the SARFAESI Act were initiate