2018 (10) TMI 1882 - DSC - Insolvency and Bankruptcy

Decree of settlement/compromise - HELD THAT - It is jointly stated that the present matter has been settled between the plaintiff and the defendant at the total amount of Rs. 7, 50, 000 to be paid in monthly installments as per the settlement agreement dated 16.08.2018 Ex. P1 starting from 20.09.2018 (total six months). In case of default of any installment a penalty of Rs. 5000 per installment per month shall be paid by the defendants from 15.11.2018 onwards. It is jointly prayed that the present matter may be decreed as compromised/settled. Statement of counsel for the plaintiff and AR of defendant are recorded separately. The present suit is decreed. A consent decree be prepared. File be consigned to record room.

Summary

The judgment from the District/Sessions Court Saket Court Complex in 2018 (10) TMI 1882 states that a matter between the plaintiff and defendant was settled for Rs. 7,50,000 to be paid in monthly installments starting from 20.09.2018. Default in payment will incur a penalty of Rs. 5000 per installment per month. The suit is decreed as compromised/settled and a consent decree will be prepared.