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2018 (1) TMI 1638 - SC - Indian LawsGrant of extension of time - condonation of delay that had occurred in adhering to the time schedule of payment as agreed to in the Lok Adalat - HELD THAT:- In the facts of the present case, the view taken by the learned Appellate Tribunal (DRAT), cannot be said to be so wholly unreasonable or unsustainable so as to justify interference by the High Court. If the agreed amount stood paid though with some delay, condonation of the delay is a possible course of action, if the grounds for delay justified a departure from what was also agreed upon, i.e., the right of a Bank to recover the entire dues. All would depend on the facts of each case. The ends of justice would be met if for the delay that had occurred, the Appellants are made liable to pay simple interest @ 24% p.a. on the amount of ₹ 34.5 lakhs (as agreed to in the Lok Adalat) for the period from the date of the Award of Lok Adalat, i.e., 10.09.2004 to the date of last payment, i.e., 29.10.2006. In addition, a further amount of ₹ 10 lakhs to be paid by the Appellants to the Respondent-Bank as compensation and costs - Appeal allowed.
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