1/3 S.B. CIVIL FIRST APPEAL NO.561/2007 Kalyan Singh & Anr. Vs. Punjab National Bank & Ors. Date : 06.02.2008 PRESENT HON'BLE DR. JUSITCE VINEET KOTHARI Mr. Sachin Acharya for the appellant. Mr. Yashwant Mehta for the respondent. --------- 1. Learned counsel for the appellant has filed an application in the Court today that in pursuance of the various interim orders passed by this Court, he had in all paid a sum of Rs.7,35,000/- up to now against the decretal amount Rs.4,68,470.53 with further interest at the rate of 16.5%. He further submits that on account of settlement between the respondent Bank and the present appellant arrived at on 11.6.2005 at the sum of Rs.7,50,000/-, the petitioner paid Rs.7,00,000/- up to 10.8.2007 as per the statement supplied by the resplendent Bank. 2. The learned counsel for the respondent-Bank has submitted that simple interest at the rate of 13% per month for the period from 11.6.2005 to 11.1.2008 on Rs.7,50,000/- would come to Rs.1,12,655/- and thus, against the total amount of settlement of Rs.7,50,000 plus the interest of Rs.1,12,655/-, the petitioner paid sum of Rs.7,00,000/- leaving a balance of 2/3 Rs.1,62,655/-. 3. In the opinion of this Court, the law charges separately debited in the said statement supplied by the respondent Bank of Rs.45,734/- and Rs.16,184/- deserves to be waived by the Bank. Thus, the net balance of Rs.1,62,655/- remains to be paid by the appellant defendant towards settlement and simple interest @ 13% p.a. thereon. 4. Learned counsel for the appellant submitted by way of undertaking upon instructions from the appellant that said amount of Rs.1,62,655/- would be paid by the appellant- defendant within a period of 3 months from today i.e. on or before 30th April, 2008. 5. Thus, the appeal is disposed of with the aforesaid undertaking of the appellant-defendant taken on record. 6. If the said undertaking is not complied with and the said amount of Rs.1,62,655/- is not paid by the appellant- defendant on or before 30th April, 2008, the present appeal shall be treated as dismissed as not pressed and the settlement arrived at on 11.6.2005 shall also be treated as non est and the decree shall become executable. It is also made clear that no 3/3 further extension of time for payment of the said amount of Rs.1,62,655/- will be granted by the Court. 7. The appeal is accordingly disposed of. No order as to costs. [ DR. VINEET KOTHARI ], J. item No.3 babulal/-