IN THE HIGH COURT OF JUDICATURE AT PATNA MJC No.1500 of 2009 Rajiv Kamal, son of Sri Devendra Prasad, R/O 223 Nehru Nagar, P.O. & P.S.- Patliputra Colony, District-Patna. -Petitioner. VERSUS 1. Punjab National Bank, Exhibition Road Branch, Patna through its Chief Manager. 2. The Authorized Officer, Punjab National Bank, Exhibition Road Branch, Patna. 3. Mr. Gaurav Kumar, son of Shri Satish Kumar, R/O-House No. 4, Bank Colony, Banskothi, District-Patna. 4. Smt. Ragini Gupta, wife of Shri Satish Kumar, R/O Kushumpuram Colony, P.O.-Danapur Cantt, P.S.-Rupaspur, District-Patna (Respondents in the writ petition). -Respondents. ----------- 02 15.05.2009 Heard the learned counsel for the Punjab National Bank and learned counsel for the petitioner. Learned counsel for the petitioner submits that after orders that were passed by this Court Bank and petitioner came to and further negotiated settlement. Bank very fairly does not dispute the same. As per the settlement, the petitioner had to pay the balance of Rs. 4.25 lacs within 45 days, failure to pay the same within three months, petitioner would then be liable to pay interest at PLR rate simple. The said agreement was accepted by the parties on 03.12.2008. Petitioner admits that though he has already paid Rs. 1.10 lacs but was unable to pay the same balance within the three months granted. On the other hand, Bank states that the petitioner having defaulted and Bank is now entitled to go back on the agreement. Keeping in view the agreement, which clearly stipulated and contemplated payments beyond three months with interest, I think so, the stand of the Bank is that agreement inter-party should also not be 2 taken by the petitioner putting a licence to defer payment indefinitely. Both parties should act bona fidely towards liquidating the loan. I, therefore, direct that the petitioner shall liquidate the entire agreed amount, as noted above, along with interest agreed by 30th of September, 2009. This Court would not entertain any application on any ground for extending the said period. This, in my view, disposes of this application. Trivedi/ (Navaniti Prasad Singh, J.)