GURNAM SINGH Vs. PUNJAB NATIONAL BANK

JUDGEMENT

(1.) (Oral)

(2.) BY filing this writ petition, the petitioners have laid challenge to the notice dated 6.10.2005 (Annexure P/2), issued by the Bank, vide which, they were asked to pay an amount of Rs.4,76,080/- along with interest. Before this Court, it is contention of the petitioners that they are poor farmers and the loan was raised for purchase of a tractor, as such, it is not open to the Bank, to charge interest @ 11.25% per annum. When this matter came up for hearing before this Court on 10.10.2006, following order was passed:-