MS J AND R ASSOCIATES AND ANR vs CANARA BANK LTD AND ORS

IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH 145 CWP-17063-2026 Date of Decision: 27.05.2026 M/s J and R Associates and another ....Petitioners Versus Canara Bank Limited and others ....Respondents CORAM: HON'BLE MR. JUSTICE SUVIR SEHGAL HON'BLE MR. JUSTICE VIKAS SURI ---- Present: Mr. Johan Kumar, Advocate for the petitioners. Ms. Rahish Pahwa, Advocate for respondents No.1 and 2 – Bank. **** SUVIR SEHGAL, J. (ORAL) 1. Counsel for the petitioners states that petitioner is prepared to deposit an amount of Rs.20 lakh and assures that half of the outstanding amount shall be deposited within a period of one month. 2. Advance copy of the petition has been served upon the respondents. 3. Ms. Rahish Pahwa, Advocate puts in appearance on behalf of respondents No.1 and 2 – Bank and states that total outstanding amount, as of today, is more than Rs.2 crores. Counsel submits that secured asset has been put to auction and auction purchaser has made initial deposit and the remaining payment is expected within next few days. Counsel submits that sale stands confirmed on 16.05.2026. VARINDER PRASHAD 2026.05.30 14:45 I attest to the accuracy of this document PHHC CWP-17063-2026 -2- 4. Ch