JUDGMENT :

B.S. Chauhan, C.J. - This Writ Petition has been filed seeking refund of Rs. 9.69 lakhs along with interest alleged to have been illegally collected from the Petitioner by force by the Opposite Party No. 1 - Bank.

2. The facts and circumstances giving rise to the case are that Petitioner had taken loan from the Opposite Party-bank to the tune of Rs. 64 lakhs. For that purpose an agreement dated 23rd December, 1995 was executed between the parties providing for a schedule of repayment, according to which the loan was repayable in 23 quarterly installments (22 installments of Rs. 2.79 each and last instalment of Rs. 2.62 lakhs) commencing at the end of 18th months from the date of disbursement of loan. Repayment dates were fixed on 1st day of March, June, September and December respectively. The agreement also contained the provisions for premature repayment, which reads as under:

Premature Repayment of SIDBI Loan :The borrower shall not prepay the outstanding principal amount of loan in full or part before the due dates except after obtaining prior approval of SIDBI in writing (which may be granted conditionally).

3. During the subsistence of the aforesaid agreement/contract,