agreed to pay a sum of l:.1^O:?-O_9I"res (Rupees Ten Crores Fifty Lakhs only) in respect of oA, N.o..92/2022. upironI amount of Rs.2,62,50,000/paid by the company shail be appropriated immediatery towards settrement amount. The balance ,T911t of Rs.7,B7,SO,OOO/_ shail be p"ia *itfrin 99 9qV"i.e., by 2O.LL.2OZ3. Agreed amount to be paid on or before 2o..LL.2o23 along with applicable interest for entire amount on reducrng balance taking into account of defendant on payment of instarments, It is submitted that on paymenr of the amounr of Rs.Z,eZ,SO.OOOl--ly 16u defendants, the appricant bank wiil fire fuil satisraction memo before the Tribunal. It is arso submitted that the defendant company shail withdraw ail the cases fired by the company against the appricant bank. It is submitted that on payment of the total comp-romise amount, the bank will release the securities to the rightfur owners against acknowredgement and wifrJraw tne suit and file joint satisfaction memo. In the event of failure to pay compromise amount, the action under SARFAESI Act shar ipsi facto commence from the stage it has been deferred and any part paymLnt under the compromise shal be treated as a part recovery as per the accounting practice of the bank for appropriation. If the defendants riii to- puv tn" amount of Rs.7,87,5o,ooo/- on or before 2o.Lj,.zo23, the coniessions granted by applicant bank to defendants while approving the compron,',ir", shall stand withdrawn without any further notice to defendants and the applicant bank wirr be entitred to recover the entire amount together with subsequent interest and shafl be entitred for recovery certificate on firing memo that defendants faired to pay the amount as per compromiie and entitled to enforce the security.
