CIVIL WRIT PETITION NO.4055 OF 2010 :{ 1 }: IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH DATE OF DECISION: AUGUST 23, 2011 Kulwant Singh and another .....Petitioners VERSUS I.C.I.C.I. Bank Limited, Vadodara and others ....Respondents CORAM:- HON'BLE MR.JUSTICE RANJIT SINGH 1. Whether Reporters of local papers may be allowed to see the judgement? 2. To be referred to the Reporters or not? 3. Whether the judgment should be reported in the Digest? PRESENT: Mr. G. C. Dhuriwala, Advocate, for the petitioners. Mr. Sanjiv Suri, Advocate, for the respondents. **** RANJIT SINGH, J. With the intervention of the counsel representing the parties, the case has come to an amicable settlement. Counsel for the Bank submits that a sum of `3,29,187/- is the principal amount pending out of the loan availed by the petitioners. Late fee charges of `3,18,489/- were payable but the Bank has decided to waive off the same. The cheque bouncing charges etc. of `13,827/- have also been waived. The stand of the Bank is very fair and rather generous which is worth appreciation. A CIVIL WRIT PETITION NO.4055 OF 2010 :{ 2 }: sum of `2,634/- is being charged as interest for the month. The interest on pending instalments till the date of calculation is calculated to be `2,44,152/-. Thus, total sum payable, as per the Bank, now works out to be `5,75,967/-. Counsel for the petitioners accepts this statement and undertakes to discharge the entire liability by 31.12.2011. With the concurrence of the parties, the time as sought by the petitioners is granted. The petitioners would discharge the entire liability by or before 31.12.2011 either in lump-sum or in instalments, as may be convenient to them. They, however, would be liable to pay interest on this amount till 31.12.2011. The interest shall be payable on the amount due and shall be payable upto the date the amount is paid back during this period. Though as per the agreement, the Bank can charge interest @ 17% per annum, but in fairness, the rate of interest is reduced to 10% per annum for this period on the amount, which is to be paid by the petitioners. It is made clear to the petitioners and they have understood the same that in case the entire payment is not cleared by 31.12.2011, the Bank would be at liberty to revive all the charges, which have been waived off. The writ petition is disposed of in the above terms. August 23, 2011 (RANJIT SINGH ) khurmi JUDGE