IN THE HIGH COURT FOR THE STATES OF PUNJAB AND HARYANA AT CHANDIGARH. C.W.P. No. 4014 of 2009. Date of Decision: 12th May, 2009. Pardeep Kumar & Ors. ....Petitioners through Mr. R.S.Bhatia, Advocate Versus State Bank of India & Ors. .Respondents through Mr. Ashok Gupta, Advocate. CORAM: HON'BLE MR. JUSTICE SURYA KANT. 1. Whether Reporters of local papers may be allowed to see the judgment? 2. To be referred to the Reporters or not? 3. Whether the judgment should be reported in the Digest? SURYA KANT, J. [ORAL) The petitioners seek a direction to the respondent Bank to correctly charge interest on the loan and accept payment of the balance outstanding amount. Notice of motion was issued and in response thereto, the respondent Bank has filed its counter-affidavit. Learned counsel for the parties have been heard at some length and pleadings perused. The counter-affidavit reveals that by excluding the penal and compound interest, the petitioners are still liable to pay a sum of Rs.8,23,364.62 as on 31.3.2009. However, if the respondent Bank is permitted to charge penal interest also, in that event the petitioners are liable to pay an additional amount of Rs.1,33,574/-. Taking into consideration the fact that penal interest @2% is beyond the scope of terms and conditions of the loan, I am of the considered view that the petitioners are not liable to pay the same provided that they deposit the remaining balance amount at the earliest. Consequently, this writ petition is disposed of with a direction that if the petitioners deposit the outstanding amount of Rs.8,23,365/- due as on 31.3.2009 along with interest upto date within a period of one month from the date of receipt of a certified copy of this order, no penal interest shall be leviable on them. Disposed of. Dasti. May 12, 2009. ( SURYA KANT ) dinesh JUDGE