HARI RAM AND OTHERS vs ICICI BANK AND ORS

233 IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH CWP-21005-2021 (O&M) Date of Decision : 18.05.2026 HARI RAM AND ORS …. Petitioners VERSUS ICICI BANK AND ORS …. Respondents CORAM : HON’BLE MRS. JUSTICE ALKA SARIN HON’BLE MR. JUSTICE RAMESH CHANDER DIMRI Present : Mr. Sachin Jain, Advocate for the petitioners. Mr. Udai Yashvir Singh, Advocate and Mr. Samarth Suri, Advocate for Mr. Sandeep Suri, Advocate for the respondents. ALKA SARIN, J. (ORAL) 1. The present writ petition has been filed under Articles 226/227 of the Constitution of India challenging the notices dated 17.04.2021 (Annexure P-4) and dated 24.06.2021 (Annexure P-7), both issued under Section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as the ‘SARFAESI Act’). 2. Learned counsel for the respondents, at the outset, states that the present writ petition deserves to be dismissed at this stage inasmuch as no cause of action has arisen in favour of the petitioners herein since only notices to show cause have been issued under Section 13(2) of the SARFAESI Act and that the cause of action in favour of the petitioners would