IN THE HIGH COURT OF PUNJAB AND HARYANA

AT CHANDIGARH

Letters Patent Appeal No.142 of 2010

Date of decision: 21.04.2011

Asset Reconstruction Company (India) Limited (ARCIL)

…..Appellant

versus

M/s PML Industries Limited and others

……Respondents

CORAM:

Hon’ble Mr.Justice Jasbir Singh

Hon’ble Mr.Justice Rakesh Kumar Garg

Present:

Mr.Ashok Aggarwal, Senior Advocate with

Mr.Sumeet Goel, Advocate for the appellant

Mr.A.K.Chopra, Senior Advocate with

Ms.Rupa Pathania, Advocate for the respondent No.1

Mr.Manohar Lall, Addl.A.G.Punjab for the State

Jasbir Singh, J.

This order will dispose of three Letters Patent Appeals bearing

Nos.142 of 2010, 1120 of 2010 and 1542 of 2010, between the same parties

and arising out of a commercial transaction of loan raised by M/s PML

Industries Limited (in short, the company), in the year 1995.

LPA No.142 of 2010

This appeal has been filed by the Asset Reconstruction

Company (India) Limited (in short, ARCIL) to impugne an order passed by

a learned Single Judge on 11.1.2010 in CWP No.58 of 2010 allowing that

writ petition, filed by the company against an order passed by Debt

Recovery Appellate Tribunal (DRAT) on 23.12.2009,