IN THE HIGH COURT OF JUDICATURE AT PATNA CWJC No.4356 of 2008 1. M/S SARAN TRADERS through its Proprietor Rakesh Kumar Singh. 2. M/s nand Kishore Singh through its Partner Rajeshwar Singh. 3. M/s Durgajee Fertilizer Agency through its partner Pashupati Nath Singh. All the three having their offices at Gandhi Chowk, Police Station and Town- Chapra, District- Saran. 4. Rajeshwar Singh s/o late Kapildeo Prasad Singh. 5. Pashupati nath Singh Son of late Kapildeo Prasad Singh. 6. Smt. Poonam Singh wife of Shri Pashupati Nath Singh. 7. Smt . Malti Singh wife of Shri Jitendra Singh. 8. Shri Jai Prakash Narayan Singh Son of Kashinath Prasad. 9. Smt. Sushila Singh Wife of Shri Ramjeevan Singh. 10. Smt. Bhagmani Devi wife of Shri Ramjeevan Singh. 11. Smt. Leelawati Devi wife of shri Asheshwar Singh. 12. Shri Asheshwar Singh Son of Indradeo Prasad Singh. All are resident of Gandhi Chowk, Police Station and Town- Chapra, District- Saran. Versus 1.THE PUNJAB NATIONAL BANK (A body corporate constituted under Banking Companies, Acquisition and Transfer of Undertaking Act 1970, Having its Head Quarter at Bhikaji Cama Palace, New Delhi- 110060. 2. Zonal Manager, Punjab National Bank, Muzaffarpur. 3. Zonal Manager, Punjab National Bank, Patna. 4. Chief Manager, Punjab National Bank, Chapra. 5.Authorised Officer, Punjab National Bank, Special Assets Recovery Cell, Budha Colony, Patna-1, Town and District- Patna. ----------- 20 4.1.2011 Detailed facts, what has transpired in this case, are noted in the earlier order culminating in the order dated 12.8.2010. Briefly stated the facts are that the petitioner was a debtor to the Bank. Having defaulted , Bank was forced to move under SARFAESI ACT to sell the mortgaged property. The petitioner then entered into One Time Settlement with the Bank for liquidating the dues. For some time he did make payment as per settlement but as all lands and property available to the petitioner were mortgaged, they could not sell the same to raise 2 the money to repay . They approached this Court. Noticing the bona fide, this Court, inter alia, directed the Bank to progressively release title deed, so that the petitioner could sell the same . Before releasing the deed, the petitioner was obliged to make deposit with the Bank. The compromise amount being Rs. 95 lakhs, Court directed the same to be paid in instalments subject to release of deed and subject to petitioner paying the delayed payment interest thereon. It is happy to note that the petitioner has been able to liquidate to the Bank’s satisfaction the entire capital and substantially all the delayed payment interest. Pursuant to direction of this Court, Bank has filed a supplementary affidavit today in which it is stated that there is a deficit of Rs. 1,23,257/- on account of delayed interest payment and a sum of Rs. 1,37,944/- on account of legal expenses . Bank has further prayed that on account of delayed payment, petitioner must now pay interest over the delayed payment interest. Having heard the parties, this Court thinks it proper to bring this litigation to an end. As per earlier order the Bank was entitled to receive payment of delayed payment interest over the delay in payment of capital of Rs. 95 lakhs. The balance outstanding on this account as per Bank is now only Rs. 1,23,257/-. The petitioner is liable to pay the same. This the petitioner would be bound to deposit to the Bank and the Bank is liable to accept the same within one month from today. Upon payment of this the account shall stand closed for all purposes 3 as both the parties have substantially got by intervention of Court in arriving at an amicable settlement and ensuring payment. Parties would bear their own costs. The Court appreciates the fair stand of both the parties in the matter to bring about this full and final settlement. Needless to say that upon payment of Rs. 1,23,257/- by the petitioner within the time stipulated above, the remaining title deed would be duly released free from encumbrance to the petitioner within thirty days thereof. All the litigations inter party before all or any form in relation to the aforesaid account shall cease forthwith upon payment of the aforesaid amount, as noted above. The writ petition stands disposed of. Singh ( Navaniti Prasad Singh, J.)