CWP No.14015 of 2009 -1- IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH CWP No.14015 of 2009 Date of decision : 5-11-2009 Harish Kumar and another .... Petitioners VERSUS The State Bank of Bikaner and Jaipur ....Respondent CORAM:- HON'BLE MR. JUSTICE KANWALJIT SINGH AHLUWALIA Present: Mr. Rahul Sharma, Advocate, for the petitioners. Mr. H.C. Gupta, Advocate, for the respondent. KANWALJIT SINGH AHLUWALIA, J. (Oral) Counsel for the respondent has stated that the petitioners had taken a term loan and the amount outstanding on 31.10.2009 is Rs.6,11,797/-. He further submitted that cash limit was granted by the Bank in the name of Dev Jewellers, firm run by the petitioners. The amount outstanding in this account is Rs.5,89,103/- on 31.10.2009. Counsel for the petitioners has submitted that term loan of Rs.6,11,797/- shall be paid by him in nine equated instalments along with interest which shall accrue on the amount. It is further submitted that the entire amount pertaining to the cash limit account shall be paid back by the petitioners within a one and half year from today. However, petitioners in this period of one and a half year will not exceed and overdraw, over and above the sanctioned limit. Counsel for the respondent has stated that the proposal made CWP No.14015 of 2009 -2- by the counsel for the petitioners is acceptable, provided no default occurs and liberty is granted to the respondents to proceed against the petitioners in accordance with law in case two defaults occur while adhering to the above arrangement. Counsel for respondent Bank has further stated that no penal interest will be charged and the instalment should commence from 1.12.2009. Counsel for the parties have expressed that the broad consensus has been arrived between the parties and in view of the statements made above and noticed in this order, the present writ petition be disposed of. Ordered accordingly. (KANWALJIT SINGH AHLUWALIA) 5-11-2009 JUDGE manju