IN THE HIGH COURT FOR THE STATES OF PUNJAB AND HARYANA AT CHANDIGARH. C.W.P. No. 18719 of 2011. [O&M] Date of Decision: 11th November, 2011. Bhagwan Dass Arora Charitable Trust & Anr. Petitioners through Mr. M.K.Singla, Advocate Versus Punjabi University & Ors. Respondents through Mr. Vipul K. Jindal, Advocate. CORAM: HON'BLE MR. JUSTICE SURYA KANT. 1. Whether Reporters of local papers may be allowed to see the judgment? 2. To be referred to the Reporters or not? 3. Whether the judgment should be reported in the Digest? SURYA KANT, J. [ORAL] The challenge herein is to the order dated 10.08.2011 passed by the Punjab University, Patiala directing the petitioners to deposit a sum of `20 lacs towards the 'Endowment Fund' in the form of FDR in the name of the Dean, College Development Council, Punjabi University, Patiala. The petitioners have come up with the plea that they are ready and willing to furnish a bank guarantee of `20 lacs which shall remain valid till it is so required by the University. The respondent University has filed its reply/affidavit pointing out that in case the petitioners are permitted to furnish the bank guarantee, it shall cause a loss of 3% per annum towards service charges. Counsel for the petitioners submits that besides the irrevocable bank guarantee of `20 lacs, the petitioners shall deposit 3% and/or any other actual loss towards service charges to be suffered by the University in the event of furnishing of the bank guarantee by them. In view of the above stand taken on behalf of the petitioners, the writ petition is allowed to the extent that instead of depositing `20 lacs by way of FDR, the petitioners shall furnish a bank guarantee in favour of the University from a Nationalized bank and they shall also deposit 3% or more service charges every year to make-up the loss of such charges to be suffered by the University. Let the needful be done by the petitioners within two weeks from the date a certified copy of this order is received. Disposed of. Dasti. November 11, 2011. ( SURYA KANT ) dinesh JUDGE