Anirudh Kaushal And Another v. State Bank Of Patiala Thr Its Branch Manager, Patiala And Others

CWP-12622-2016 -1IN THE HIGH COURT OF PUNJAB & HARYANA AT CHANDIGARH CWP-12622-2016 Date of decision: 05.08.2016 Anirudh Kaushal and another ..... Petitioners

Versus

State Bank of Patiala and others ..... Respondents

CORAM:

HON'BLE MR. JUSTICE AJAY KUMAR MITTAL HON'BLE MR. JUSTICE RAMENDRA JAIN PRESENT: Mr. Ishan Gupta, Advocate for the petitioners. AJAY KUMAR MITTAL, J. (ORAL) 1.

The petitioners have approached this Court under Articles 226/227 of the Constitution of India, seeking quashing of the order dated 25.05.2016 (Annexure P-27) passed by the Debts Recovery Tribunal-II, Chandigarh whereby the application of the petitioners for extension of time was allowed but the extensive rate of interest @ 17% per annum simple against the sanctioned rate of interest @ 10.25% per annum (2.5% below PLR) along with cost of ` 70,000/- have been levied upon the petitioners with a condition to deposit an amount of ` 5 lacs before 28.06.2016. 2.

After arguing for some time, learned counsel for the petitioners submitted that he may be allowed to withdraw the instant petition, with liberty to the petitioners to avail the remedy of appeal, in accordance with Rishu Kataria 2016.08.10 11:17 I attest to the accuracy and authenticity of this document

CWP-12622-2016 -2law.

3.

Dismissed as withdrawn.

4.

It shall, however, be open to the petitioners to take recourse to the remedies, as may be available to them, in accordance with law. ( AJAY KUMAR MITTAL ) JUDGE August 05, 2016 ( RAMENDRA JAIN ) rishu JUDGE Whether speaking/reasoned Yes/No Whether Reportable Yes/No Rishu Kataria 2016.08.10 11:17 I attest to the accuracy and authenticity of this document