CWP No.14015 of 2009
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IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH
CWP No.14015 of 2009
Date of decision : 5-11-2009
Harish Kumar and another
.... Petitioners
VERSUS
The State Bank of Bikaner and Jaipur
....Respondent
CORAM:- HON'BLE MR. JUSTICE KANWALJIT SINGH AHLUWALIA
Present: Mr. Rahul Sharma, Advocate,
for the petitioners.
Mr. H.C. Gupta, Advocate,
for the respondent.
KANWALJIT SINGH AHLUWALIA, J. (Oral)
Counsel for the respondent has stated that the petitioners had
taken a term loan and the amount outstanding on 31.10.2009 is
Rs.6,11,797/-. He further submitted that cash limit was granted by the Bank
in the name of Dev Jewellers, firm run by the petitioners. The amount
outstanding in this account is Rs.5,89,103/- on 31.10.2009.
Counsel for the petitioners has submitted that term loan of
Rs.6,11,797/- shall be paid by him in nine equated instalments along with
interest which shall accrue on the amount. It is further submitted that the
entire amount pertaining to the cash limit account shall be paid back by the
petitioners within a one and half year from today. However, petitioners in
this period of one and a half year will not exceed and overdraw, over and
above the sanctioned limit.
Counsel for the respondent has stated that the proposal made
CWP No.14015 of 2009
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by the counsel for the petitioners is acceptable, provided no default occurs
and liberty is granted to the respondents to proceed against the petitioners
in accordance with law in case two defaults occur while adhering to the
above arrangement. Counsel for respondent Bank has further stated that
no penal interest will be charged and the instalment should commence
from 1.12.2009.
Counsel for the parties have expressed that the broad consensus
has been arrived between the parties and in view of the statements made
above and noticed in this order, the present writ petition be disposed of.
Ordered accordingly.
(KANWALJIT SINGH AHLUWALIA)
5-11-2009 JUDGE
manju