1 S. B. CIVIL WRIT PETITION NO.3055/2007 BALVEER SINGH V. STATE BANK OF INDIA & ANOTHER. DATE OF ORDER ::: 01/04/2008 HON'BLE MR. JUSTICE MUNISHWAR NATH BHANDARI Mr. Rakesh Matoria), for Petitioner (s). Mr. J.S.Bhaleria ) Mr. J.K.Chanda, for Respondents. With the consent of both the parties, the matter is heard finally. Learned counsel for the petitioner submits that pursuant to the directions of this Court dated 28.5.2007, 50% of the amount shown due, has already been deposited and now, the only issue remains as to whether amount due is being determined by the respondents based on interest at the rate of half yearly basis or not, apart from the fact that the respondents be given directions to get the remaining amount in easy installments. Learned counsel for the respondents submits that the argument of the learned counsel for the petitioner, regarding interest, is based on imagination as there is nothing on record to show that the interest has not been 2 charged on half-yearly basis. However, it is submitted that if the bank has charged interest on quarterly basis, then it would be recalculated on half-yearly basis and the remaining amount would be made payable in easy installments. In view of the above agreement, the writ petition is disposed of with the direction to the respondents to determine the payable amount after charging interest on half-yearly basis, if not already charged. The amount calculated, in view of the aforesaid directions, would then be paid by the petitioner in easy installments to be determined by the respondents, keeping in mind the weak financial condition of the petitioner. The respondents would, however, be entitled for charging reasonable rate of interest for the period when remaining amount due is paid by the petitioner. It is made clear that the charged interest would be on diminish value of the amount. The necessary calculation made by the respondents, be informed to the petitioner along with required number of installments within a period of one month. In view of the above, the respondents will not take any coercive action against the 3 petitioners. With the aforesaid observations and directions, the writ petition is disposed of. (M. N. BHANDARI), J. scd