IN THE HIGH COURT OF JUDICATURE AT PATNA CWJC No.14432 of 2009 1. REHAN FATIMA W/O LATE ABUL HASAN, R/O MARWARI MOHALLA, P.S-GOPALGANJ TOWN, DISTT- GOPALGANJ Versus 1. THE PUNJAB NATIONAL BANK THROUGH ITS CHAIRMAN CUM MANAGING DIRECTOR, 7 BHIKHA JI, KAMA PLACE, NEW DELHI- 110066 2. ZONAL MANAGER, PUNJAB NATIONAL BANK, ZONAL OFFICER, CHANAKYA PLACE, R-BLOCK, PATNA 3. REGIONAL MANAGER, PUNJAB NATIONAL BANK, REGIONAL OFFICE, SARAIYA GANJ, MUZAFFARPUR 4. CHIEF MANAGER-CUM-AUTHORIZED MANAGER SARFAESI ACT, REGIONAL OFFICE- SARIYA GANJ, MUZAFFARPUR ----------- For the Petitioner:- Mr.Prabhat Ranjan- I, Adv. For the State:- Mr. Mahesh Narayan Parbat, Adv. --------------- 4. 25.02.2011 Heard learned counsel for the petitioner and the Punjab National Bank. The facts of the case and the issues have adequately been noticed in the order dated 26.11.2009 and need not be reiterated. Learned counsel for the petitioner submits that the Principal amount of the loan stands repaid along with some interest also. On the date that the bank alleged interest arrears of Rs. 2,48,000/- (while the bank contends it to be Rs. 2,88,194/-) fixed deposit receipts of adequate value pledged by the petitioner were available with the Bank. Under the loan agreement, the Bank could have encashed the same to liquidate the dues. It did not do so and continued imposing liability for interest upon the petitioner. As per the statement of accounts furnished to the petitioner by the Bank, a sum of Rs. 94,386/- only remains payable on account of interest. 2 Counsel for the Bank contends that the dues were still earning interest. The issue now appears to be more of accounting and conduct of the parties. In view of the fact that the Principal dues stand liquidated and keeping in mind that the petitioner is the widow whose husband had taken the aforesaid loan when she with her own resources had repaid substantial dues of principal and interest, it shall not be proper for the Bank to act in any manner with regard to the property in question to the detriment of the petitioner. That shall hardy be in accord with the social philosophy and duties of the public sector bank with constitutional obligations different from a private sector Bank. Learned counsel for the parties are agreed that the matter of accounting may be referred to the Circle Head of the Bank at Muzaffarpur who shall also grant a personal hearing to the petitioner or representative hearing as the case may be and then dispose off the matter in accordance with law by a reasoned and speaking order. It is expected that the Bank shall act reasonably and prudently in the best interest of both the petitioner and the Bank within a maximum period of two months from the date of receipt/production of a copy of this order. The writ application stands disposed. P. Kumar ( Navin Sinha, J.)