IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH Civil Writ Petition No.15921 of 2009 Date of decision: 30th November, 2009 Raja Ram and another … Petitioners Versus Punjab and Sind Bank and others … Respondents CORAM: HON’BLE MR. JUSTICE KANWALJIT SINGH AHLUWALIA Present: Mr. Bhag Singh, Advocate for the petitioners. Ms. Adarshpal Kaur, Advocate for the respondents. KANWALJIT SINGH AHLUWALIA, J. (ORAL) Present writ petition has been filed with a prayer to quash the possession notice (Annexure P-4) dated 7th September, 2009 and subsequent sale notice (Annexure P-6) dated 13th September, 2009 for the sale of the properties of the petitioners. Ms. Adarshpal Kaur, Advocate is present along with Harminder Singh, Chief Manager, Punjab and Sind Bank, Pipli. Counsel for the respondents, on instructions, has stated that till today Rs.4,52,259/- are outstanding. Mr. Bhag Singh, Advocate is present along with Balwant Singh son of the petitioners. During course of arguments, it has been mutually agreed between the counsel for the parties that petitioners shall pay Rs.70,000/- on or before 31st December, 2009. They shall further pay Rs.1,40,000/- on or before 31st March, 2010 and the remaining amount shall be paid by 31st May, 2010. On the said amount, petitioners shall also pay interest, which may accrue from today onwards. Petitioners shall also pay cost. The Chief Manager, Harminder Singh has further stated that during the pendency of Civil Writ Petition No. 15921 of 2009 the writ petition, the property was put to auction and the auction purchaser has deposited 25 per cent of the amount of auction. The Chief Manager has further stated that the auction purchaser is to be compensated. At this stage, Mr. Bhag Singh, counsel for the petitioners, submits that auction purchaser will be paid interest by the petitioners, which the Bank has to pay to the auction purchaser @ 12 per cent. It has further been clarified that the amount of Rs.4,52,259/- stands today in the books and it does not include the costs incurred by the Bank till today and the interest which has to accrue from today onwards. In view of the broad consensus arrived at between the parties, present writ petition stands disposed of. In case petitioners fail to act in consonance with arrangement noticed in this order, respondent Bank shall be well within its rights to proceed against the petitioners in accordance with provisions of law. [KANWALJIT SINGH AHLUWALIA] JUDGE November 30, 2009 rps 2