In a suit for recovery, the parties settled via consent terms where defendants deposited funds to settle claims. The court accepted the pay order undertaking, discharged the Receiver, and disposed of the suit.
Suit dismissed and disposed off on terms of the consent agreement; Receiver discharged.
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USJ
IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION
SUIT NO.4672 OF 1995
M/s. Wall Street Finance Ltd... Plaintiffs
M/s. Purvi Electronics Ltd. & Anr... Defendants
Mrs. Shakuntala Joshi for the plaintiffs
Ms. Sheela Balsari a/w. Diwakar Dwivedi for the defendants
CORAM : S.C. DHARMADHIKARI, J. DATE : 31st AUGUST, 2009.
P.C. :
1.It is stated that the suit claim is settled. The
parties have agreed after mutual discussions and
negotiations that defendants shall deposit in this Court a
sum of Rs.27 lakhs which shall be accepted in full and
final settlement by the plaintiffs towards all their claims
in the suit. It is, then, agreed that the decree will be
marked satisfied. Ms. Balsari appearing for the defendants,
on instructions makes a statement that pay order in the
name of the Prothonotary and Senior Master of this Court is
nd
also drawn and the same would be deposited on or before 2
September, 2009. It is stated that this pay order would be
duly handed over to the plaintiffs after they take
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necessary steps so that all complaints instituted under
Section 138 of the Negotiation Instrument Act are disposed
off. In the light of this agreement reached between
parties, the plaintiffs have stated that they would
withdraw the complaints. Further, all attachments on the
immovable properties will also then come to an end. The
original agreements would be returned to the guarantor.
2.Both sides have stated that these consent terms fully
resolve their dispute and none have any claim against each
other.
3.In the light of these, consent terms which are signed
by the duly authorized signatories, the Court Receiver will
stand discharged without passing account but on usual
payment of costs, charges and expenses.
4.Consent Terms are taken on record and marked as �X�
for identification. Order in terms of the consent terms.
The Suit is disposed off. Refund of Court fees as per
rules. Undertaking in clause 5 is accepted.
(S.C. DHARMADHIKARI, J.)
S.C. DHARMADHIKARI
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court