Dismissed
State Bank of Travancore Perumbavoor v. M/S.Xl Engineers
Kerala HCAS/307/1994
Case brief
AI extract
What is this about?
As AS numbers 307 of 1994, 450 of 2002, 475 of 2002, and 476 of 2002 were finally heard, the court noted an out-of-court settlement where judgment debtors agreed to pay 10.50 lakhs (later corrected to 19.50 lakhs). The appeals were disposed of as settled. The bank was directed to continue execution unless full settlement occurs; otherwise, no revenue recovery proceedings initiated.
What did the court decide?
The appeal suits disposed of recognizing an out-of-court settlement; bank may proceed with execution if settlement fails.