IN THE HIGH COURT OF JUDICATURE AT PATNA CWJC No.4026 of 2007 M/S PATLIPUTRA INDUSTRIES LTD., a Company incorporated under the provisions of Companies Act, 1956 having its place of business at Deedarganj, P.S.Deedarganj,Patna City, Town and District Patna through its Director, Ravindra Prasad son of Late Ram Prasad Sah, resident of Nawab Bahadur Road, P.S. Khajekala,Patnacity,Town and District Patna. Versus 1. THE STATE BANK OF INDIA through its Deputy Manager,Zonal Office,J.C.Road,Patna-1. 2. The Assistant General Manager, State Bank of India, Local Head Office, West Gandhi Maidan,Pastna. 3. The Chief Manager-cum-Authorized Officer, State Bank of India, Industrial Finance Branch, Narain House,Nageshwar Colony,Boring Road,Patna-1. 4. The State of Bihar through the Commissioner of Commercial Taxes, Govt. of Bihar,Patna. ----------- For the Petitioners : Mr. Y.V.Giri,Sr.Adv. For the Bank : Mr.Mukundjee. 12 11.12.2008 Pursuant to order dated 2.12.2008 an affidavited undertaking has been filed by the petitioner. On perusal thereof, para 4 does not convey what was the order of this court earlier. Both parties are in an agreement that the petitioner is liable to clear the total outstanding as on 1.12.2006, by 31.6.2009. Petitioner would further be liable to pay simple interest at ELR from 1.12.2006 on the balance debt upto the final liquidation by 30.7.2009. He shall be given credit of amounts deposited in between the said period as and when deposited . In this manner, the NPA amount with interest ,as above ,would stand liquidated completely by 30.7.2009. In case petitioner punctually follows the time schedule and makes the said payment accordingly, on final payment being made, account would be closed, as finally settled on 1.8.2009 , and all documents and papers submitted by the petitioner would then be - 2 - returned duly discharged to the petitioner. Let it be recorded that the time schedule is the essence of this settlement irrespective of any eventuality. The same has to be punctually followed. Failure on the part of the petitioner would render this order and all previous orders of this Court to be avoided with such other consequences that may arise. This, in my view, finally disposes of the writ petition. Let a copy of this order be given to learned counsel for the Bank. singh (Navaniti Prasad Singh)