TARSEM SINGH AND ANOTHERS vs STATE OF PUNJAB AND OTHERS

IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH 137 CWP-13886-2026 Date of Decision: 12.05.2026 Tarsem Singh and another ....Petitioners Versus State of Punjab and others ....Respondents CORAM: HON'BLE MR. JUSTICE SUVIR SEHGAL HON'BLE MR. JUSTICE VIKAS SURI ---- Present: Mr. N.P.S.Mann, Advocate for the petitioners. Mr. A.S.Khara, Senior Deputy Advocate General, Punjab for respondents No.1 and 2. Mr. Saurabh Bhardwaj, Advocate (through V.C) for respondent No.3 – Bank. **** SUVIR SEHGAL, J. (ORAL) 1. Counsel for the petitioners states that in order to show their bonafide, the petitioners have brought a demand draft of Rs.5 lakhs against the outstanding amount. A xerox copy of the same has been placed on record. 2. Mr. Saurabh Bhardwaj, Advocate, who is appearing through virtual platform and representing respondent No.3 – Bank states that total amount due is more than Rs.25 lakhs. He, however, has instructions to state that in case the petitioners come forward and submit a proposal for One Time Settlement (OTS), the same shall be duly considered by the respondent-Bank. Counsel further states that previously, e-auction was fixed on 06.05.2026 by the Debts Recovery Tribunal, but