need help in date helper

[eluser]Mistry007[/eluser]
i want to take current datetime in varibale but some how i am not able to take it.

Code:

$this->date_string =  "%Y/%m/%d %h:%i %a";
echo $this->created_date = mdate($this->date_string);

It will display me the output like

Code:

2011/11/15 08:50 am

while my actual right time is 14:21 pm
can any one help