C.W.P. No.8 of 2008. 29.07.2009 Present: Mr. Suneet Goel, Advocate, for the petitioner. Mr. S.D. Gill, Advocate, for respondents No.1 & 2. Mr. R.M. Bisht, Dy. Advocate General and Mr. Rajesh Mandhotra, Dy. Advocate General, for respondents No.3 to 5. Mr. K.D. Rana, Managing Director of the respondent No.1- Bank is present pursuant to the directions issued on 24th July, 2009. Affidavit in compliance to the order is also filed, which clearly shows that the rate of interest agreed to was simple interest @ 15.5% per annum. In the affidavit, it is clearly stated that upto 31.3.2007, the interest was charged on simple interest basis at the agreed rate i.e. 15.5% per annum. Thereafter the auction of the mortgaged property was conducted and since no other bidder was available, the Bank itself bid and purchased the property in question. According to the calculations and affidavit now filed, as on 29.7.2009, a total amount of Rs.10,88,160/- is payable including the sale and legal fee of the counsel. It is stated before us that the petitioner has already deposited Rs.7,74,717/- by means of cheques. These cheques may be encashed by the Bank and the amount be adjusted towards total amount dues. The petitioner shall pay the balance amount alongwith interest on the balance amount due till 31st August, 2009. -2- Sh. Suneet Goel, learned counsel appearing on behalf of the petitioner prays that the petitioner will deposit the balance amount alongwith interest payable on or before 31st August, 2009. Shri S.D. Gill, leaned counsel for respondents No.1 and 2, on instructions received from his client submitted that in case the petitioner pays the entire amount, the bank shall have no objection to retransfer the property in favour of the petitioner. In case the cheques are duly encashed and the petitioner pays the balance amount alongwith interest on or before 31st August, 2009, then the respondent-bank shall within two months thereafter retransfer the property of the petitioner to him by execution of appropriate conveyance deed. It is made clear that the petitioner shall bear the registration and stamps charges payable on the conveyance deed. With the aforesaid directions, the writ petition is accordingly disposed of. In view of the disposal of the main writ petition, all pending applications are accordingly disposed of. Copy dasti on usual terms. (Deepak Gupta),J. (Surinder Singh),J. July 29, 2009. (Pds)