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 ₹ 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 ₹ 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.