NEELRATTAN ENTERPRISES PRIVATE LIMITED vs UNION BANK OF INDIA AND ORS

IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH 141 CWP-16506-2026 Date of Decision: 25.05.2026 NEEL-RATTAN ENTERPRISES PRIVATE LIMITED ...Petitioner Versus UNION BANK OF INDIA AND ORS ...Respondents CORAM: HON'BLE MR. JUSTICE SUVIR SEHGAL HON'BLE MR. JUSTICE VIKAS SURI Present:- Mr. Rakshit Gupta, Advocate, for the petitioner. Mr. Chandra Kumar Jha, Advocate, for respondent No.1-Bank. Mr. A.S. Khara, Senior DAG, Punjab. ***** SUVIR SEHGAL, J. (ORAL) 1. This petition has been filed inter alia assailing notice dated 10.04.2026, Annexure P-7 as well as impugned action taken on 29.04.2026, Annexure P-8, whereby possession of the secured asset has been taken. 2. Counsel for the petitioner asserts that although notice was issued for taking over the possession on 24.04.2026, but without issuing any further notice, possession has been forcibly taken on 29.04.2026. He has placed reliance upon Allahabad Bank vs. DM, Ludhiana and others, 2021(4) RCR (Civil) 571. It is his contention that financial institution has violated the procedure while taking over the possession of the secured asset from the petitioner. 4. Advance copy of the petition has been served upon respondent No.1-Bank. HA