LPA No. 848 of 2010 [1] IN THE HIGH COURT OF PUNJAB & HARYANA AT CHANDIGARH LPA No. 848 of 2010 Date of Decision: 26.08.2010 K.C.Chibber & Company and others ..Appellants Versus Punjab & Sind Bank and another ..Respondents CORAM: HON'BLE MR. JUSTICE MUKUL MUDGAL, CHIEF JUSTICE HON'BLE MR. JUSTICE AJAY TEWARI 1.Whether Reporters of local papers may be allowed to see the judgment ? 2. Whether to be referred to the Reporters or not ? 3. Whether the judgment should be reported in the Digest? Present : Mr. Anand Chibber, Advocate, for the appellants Mr. I.P.Singh, Advocate, for the respondents. ***** MUKUL MUDGAL, C.J. (Oral) This appeal arises from an order dated 18.5.2010 passed by learned Single Judge of this Court which reads as under:- “The issue whether the statement made before the Debts Recovery Tribunal and offer for settlement was done on proper instructions or whether the respondent could withdraw any offer of OTS, is a matter that would require fuller consideration as per the decision rendered by Hon'ble Supreme Court in Sardara Singh's case. In my view, the ends of justice would be met if the petitioner is directed to pay, considering the respective claims of the LPA No. 848 of 2010 [2] petitioner and Bank, an amount of Rs. 34,49,385/- with interest @ 11.75% which shall be worked out till date after giving due credit to the amounts, which he has paid plus an additional amount of Rs. 10 lacs as a condition precedent for operation of the order of stay already issued by this Court. The amount shall be properly calculated and tendered to the respondent-Bank within a period of six weeks from the date of receipt of copy of this order, failing which the interim order already granted shall stand vacated. Post for consideration of the case on merits on 6.9.2010.” 2. On going through the facts of this case, we found that the learned Single Judge had arrived at a reasonable figure of Rs. 34,49,385/-with future interest @ 11.75% plus an additional amount of Rs. 10 lacs to be deposited as a condition precedent for granting stay of operation of the impugned order. However, in the interest of justice, on 23.7.2010, we had granted stay for recovery of Rs. 10 lacs which was granted as additional amount by the learned Single Judge, while making it clear that rest of the impugned order was not being interfered. 4. Today, learned counsel for the appellants submitted that a sum of Rs. 30,20,000/- have already been deposited and prayed for grant of more time to deposit the remaining amount. In the interest of justice, we are of the view that the amount ordered by learned Single Judge, less the amount of Rs. 10 lacs, be deposited before the next date of hearing before the learned Single Judge and an undertaking to this effect shall be tendered by the proprietor of appellant No.1, namely, K.C.Chibber, who is present in Court, before the Registrar (Judicial) of this Court. The undertaking shall be furnished not later than 31.08.2010. The grant of additional sum of Rs. 10 lacs, the payment of LPA No. 848 of 2010 [3] which has been stayed by us, is left open for consideration by the learned Single Judge. With these directions, the appeal stands disposed of. (MUKUL MUDGAL) CHIEF JUSTICE (AJAY TEWARI) 26.08.2010 JUDGE 'ravinder'