VINOD S. BHARDWAJ, J. (ORAL) Challenge in the present petition is to the order dated 25.05.2017 passed by the Permanent Lok Adalat (Public Utility Services), U.T., Chandigarh.

Briefly summarized, the facts of the present case are that the respondents-applicants had taken a loan of Rs.2 crores, in their individual capacity against loan application dated 25.09.2012, on the deposit of property documents i.e. title deeds and other documents in respect of SCF No.94, Sector 40-C, Chandigarh as an equitable mortgage. The abovesaid loan amount was to be repaid in 107 equated monthly installments at a floating rate of interest of 13.25% per annum. It had been claimed by the respondents-

applicants, that they had been assured that no foreclosure charges will be levied in case they wanted to clear the loan amount before the repayment term. It was averred that the petitioner-Bank, being a nationalized bank, is 1 of 13 governed by and is mandated to follow the guidelines/instructions issued by the Reserve Bank of India from time to time. The respondents-applicants claimed that they had been paying the installments regularly as per the agreement. However, after having arra