IN THE HIGH COURT OF JUDICATURE AT PATNA CWJC No.4667 of 2008 RISHIKESH RAI Versus THE STATE OF BIHAR & ORS ----------- 5 17.9.2008 Petitioner had taken certain loan from the respondent- State Bank of India for establishing a brick kiln. He defaulted and as a consequence whereof the Bank initiated a certificate proceeding being Certificate Case no. 5/1999-2000 and now pending before the Certificate Officer-cum- Additional Collector, Buxar. When the matter was pending before the Certificate Court, a compromise was entered into by which the petitioner was required to pay Rs. 1.66 lakh by 31.3.2005 in settlement of his entire due. As petitioner defaulted, he was arrested in the said proceeding and ultimately on or about 10.1.2008 on his behalf Rs. 0.66 lakh was paid. Thus, as per compromise leaving Rs. 1 lakh but as the compromise was not acted upon by the petitioner,Bank is insisting for payment of the entire certificate dues, which are now over Rs. 4 lakh. Petitioner states that he is unable to make payment to the extent, as demanded ,and sought for a compromise and offered to pay Rs. one lakh. In my view, that is not acceptable but a fair stand has been taken by the Bank as an exception that Bank would abide by the compromise earlier offered for payment of Rs. 1.66 lakh by 31.3.2005 and petitioner has to also abide by the same,meaning thereby that the petitioner would now be liable to pay the said Rs. 1.66 lakh along with interest for the delay in payment as reduced by payment made in 2 between. In other words, it would be deemed that on 1.4.2005 petitioner was advanced Rs. 1.66 lakh and interest would start running thereon from that date with credit for an amount of Rs. 0.66 lakh . The net balance, the petitioner would have to pay within six months from the date by which total calculation for the said amount is made available to the petitioner along with interest accruing in that period. For this purpose, with the order of this Court petitioner would approach the Chief Manager of State Bank of India,Buxar Branch, who would get the same calculated and serve the figure to the petitioner in accordance with this order. The calculation would be at Rs. 13.75% simple interest as against 12% provided in Section 17 of the Bihar Public Demand Recovery Act, 1940. In case petitioner does not appear before the Chief Manager with the order of this Court within one month, he would himself calculate the amount as per order of this Court and serve on petitioner. In case petitioner defaults in compliance of the direction of this Court, respondent- Bank would be free to proceed with the certificate proceeding, which would otherwise remain stayed and stand discharged on payment in accordance with this order. The writ petition stands disposed of. Let a copy of this order be given to learned counsel for the Bank. SINGH (Navaniti Prasad Singh , J.)