I require a VB script which when run gives me the details about the latest Windows patch that was updated on the servers along with the date & time.
I have no idea but you could try something like this
Here you go: http://technet.microsoft.com/library/ee176545.aspx
Please use powershell for new / future scripting on windows platform. it is the modern oo based shell environment and should meet your needs. VBS is a pre 2000 (over 10 years old) scripting solution that should be on the retirement technology list.
This blog post has lots of interesting info regarding your need: http://blogs.technet.com/b/heyscriptingguy/archive/2011/08/13/use-powershell-to-audit-and-install-windows-patches.aspx
There are several sites that contain pre-built powershell scripts you can bing / google for.
Adding: Agree with other commentors that WSUS is a good solution for this as well.