9911796707
TMI Blog2018 (1) TMI 1699X X X X Extracts X X X X X X X X Extracts X X X X ..... th February, 2010, defendants had borrowed Rs.2,50,00,000/- for a period of two months. Defendants No.2 and 3 are stated to have executed Deed of Guarantee to secure loan. 3. The repayment cheques issued by the defendants admittedly were dishonoured by the bank with the remarks 'funds insufficient'. 4. In a proceeding under Sections 138, 141 and 142 of the Negotiable Instruments Act, the defendants proposed a settlement under which they offered to pay Rs.3,22,02,660/- along with pendente lite and future interest @24% per annum till the date of full realisation of the entire amount. During the pendency of said proceeding, the parties duly executed a Compromise Deed/Contract dated 31st August, 2013 wherein the defendants undertook to pay Rs ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hirty Eight Lakhs Sixty One Thousand Nine Hundred Seven Only) against his all claims which he raised in the present suit but subject to encashment of two cheques mentioned hereunder and as will be given by the defendants to the plaintiff in furtherance of this settlement; if said cheques will return unpaid by any reason whatsoever, then full amount of the suit as prayed in the plaint, shall be decreed against all the defendants jointly and severally as admitted by the all defendants in earlier settlement/compromise dt. 31.08.2013. 10.2 It is further agreed that the defendants will pay aforesaid settlement amount of Rs.2,38,61,907/- (Rupees Two Crores Thirty Eight Lakhs Sixty One thousand Nine Hundred Seven Only) by way of following cheque ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ertained as no leave to defend has been placed on record till date. 12. Further, in view of the Compromise Deed/Settlement Agreement which provides the consequence for default of repayment, this court is of the view that the suit has to be decreed in accordance with the prayer clause and the default clause in the Compromise Deed/Settlement Agreement. 13. Accordingly, the present suit is decreed against the defendants jointly and severally for a sum of Rs.4,38,00617/- along with interest @24% per annum from 01st February, 2016 (date of filing of suit) along with pendente lite and future interest till the date of actual payment of the full amount after deducting payment of Rs.25 lacs paid by the defendants to the plaintiff on 06th January, ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
