9911796707
TMI Blog2005 (12) TMI 576X X X X Extracts X X X X X X X X Extracts X X X X ..... ith interest and damages was filed by the Appellant. The parties, however, entered into a compromise in terms whereof the Appellant was to receive a sum of ₹ 41,69,110/-, the relevant clause whereof reads as under: It is specifically made clear that on dishonour of the said cheques or any one of them on any ground whatsoever then and in that event the entire remaining balance amount shall become payable at one time and the plaintiff shall be entitled to execute the decree for realization of the entire remaining balance amount which shall remain payable plus interest to be calculated @15% p.a. and shall also be entitled to take all legal steps as may be permissible under the law to the plaintiff. It is not in dispute that the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... High Court, relying on or on the basis of the decision of this Court in Smt. Periyakkal and others v. Smt. Dakshyani, [AIR 1983 SC 428], granted such extension stating: It is on account of the illness of the Managing Director of the judgment debtor company and on account of the fact that the company is facing financial problems, extension/ enlargement of time for the payment of balance decretal amount is made. The judgment debtor is also agreeable to pay interest at the rate of 15% per annum on the reduced balance amount. Though ordinarily time for payment should not be extended on the mere asking of the judgment debtor, but in the present case disallowing the judgment debtors' request would cause great injustice to the judgment de ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2002. Since the extended time has already come to an end the appeal to our mind has become infructuous. The appellant will be, however, within his rights to approach the learned Single Judge for execution as well as for contempt. The filing of the appeal will not come in the way of the appellant in pursuing his remedy before the learned Single Judge. The said order of the Division Bench is said to be still in force. The Respondent, however, obtained another extension from another learned Single Judge of the High Court in terms of an order dated 28.8.2002. The Appellant, herein did not question the said order. The said order, thus, attained finality. It is, however, not in dispute that the judgment debtor has paid the entire amount t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... efor nine cheques were issued. It is also not in dispute that the plaintiff waived his remaining claim on the premise that the Respondent had agreed to settle the disputes. Clause (b) of the Compromise Petition filed by the parties merely shows that in the event, any of the cheque is dishonoured or returned unpaid, the entire remaining balance amount shall become payable at one time in which event, the decree holder would be entitled to execute the decree for realization of the entire remaining balance amount plus interest calculated at the rate of 15% per annum. Order XXIII, Rule 4 of the Code of Civil Procedure states that other provisions thereof are not applicable to an execution proceedings. But, despite the same, it is now well-set ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... etween the parties but the court would relieve against a forfeiture clause; And, where the contract of the parties has merged in the order of the court, the court's freedom to act to further the ends of justice would surely not stand curtailed. There cannot, thus, be any doubt that the compromise entered into by and between the parties hereto in the execution proceedings was valid in law. The Appellant moreover does not say that the same was not acted upon. Admittedly, he received the entire amount thereunder, albeit belatedly; but even therefor the Respondent applied for and obtained extension of time to pay the same. Rightly or wrongly, the learned Single Judge of the Delhi High Court by an order dated 28.8.2002 extended the t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... per annum. The settlement between the parties was arrived at at this juncture in terms whereof it was agreed: 1. The judgment debtor shall pay the balance amount of ₹ 36,59,110 in the instalments. 2. For the past period, i.e., from the date of Decree till date the judgment debtor shall pay the lump sum interest of ₹ 6,35,082. 3. The judgment debtor shall pay 15% interest on the principal amount of the further period. Not only the Respondent agreed to pay a lump sum interest of ₹ 6,35,082 but also became agreeable to pay 15% interest on the principal amount of the further payment. On calculation, a sum of ₹ 42,04,222/- was found to be payable out of which the judgment debtor had paid a sum of ͅ ..... X X X X Extracts X X X X X X X X Extracts X X X X
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