TMI Blog2018 (1) TMI 828X X X X Extracts X X X X X X X X Extracts X X X X ..... ants were acquitted. Appeal disposed off. - RFA 340/2016 & CM APPLs.19675/2016 (stay) & 19676/2016 - - - Dated:- 10-1-2018 - PRATHIBA M. SINGH J. Appellants Through: Mr. Amit Jagga, Advocate along with appellant in person. Respondents Through: Mr. Arvind Kumar Gupta, Mr. Amit Mehta Mr. Prashant Bhardwaj, Advocates. Prathiba M. Singh, J. (Oral) 1. The Appellants (hereinafter Defendants ) were the Defendants in the suit filed by the Respondents/Plaintiffs (hereinafter Plaintiffs ) under Order XXXVII of Code of Civil Procedure, 1908 (hereinafter, CPC ). The Plaintiffs sought recovery of ₹ 15,50,000/-. The trial court decreed the suit for the sum of ₹ 15,50,000/- along with interest @ 12% per annum from ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e, 2014 to the Defendants, to make payment after the cheque was returned with the remarks Funds Insufficient . Since the Defendants failed to make the payment, the Plaintiffs filed a complaint under Section 138 of the Negotiable Instruments Act, 1881 (hereinafter, NI Act ) as also a suit under Order XXXVII of the CPC. Defendants case 6. The Defendants argued before the trial court that the document dated 22nd December, 2013, termed as receipt, was a forged document and that they are entitled to leave to defend. However, the trial court relied upon a settlement agreement dated 9th January, 2015 entered into between the parties. The said settlement agreement had fructified during the course of the complaint under Section 138 of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Court that there exist elements of settlement which may be acceptable to the parties, the Court shall formulate the terms of settlement and give them to the parties for their observations and after receiving the observations of the parties, the Court may reformulate the terms of a possible settlement and refer the same for - (a) arbitration; (b) conciliation; (c) judicial settlement including settlement through Lok Adalat; or (d) mediation. (2) where a dispute has been referred - (a) for arbitration or conciliation, the provisions of the Arbitration and Conciliation Act, 1996 (26 of 1996) shall apply as if the proceedings for arbitration or conciliation were referred for settlement under the provisions of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on petition would be proceeded with. It was recorded on 16th March, 2017 that subsequent to the settlement agreement entered into in the mediation centre, the complaint under Section 138 of the NI Act was rejected and the Defendants were acquitted. 9. During the course of hearing, the counsel for the Defendants under instructions from the Defendant No. 1, submitted that if they are given some time they are willing to pay the money due to the Plaintiffs. Accordingly, the matter was passed over and the parties were requested to discuss settlement terms. The parties, thereafter, reported that they have been able to settle the matter on the following terms and conditions: 1. Appellant No.1/Defendant No.1 in the suit, who is present in cou ..... X X X X Extracts X X X X X X X X Extracts X X X X
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