The High Court disposed of the writ petition as having been rendered infructuous following an amicable settlement dated 3.9.2011 between the parties, binding them to the payment stipulations.
Disposed as rendered infructuous; parties bound by settlement terms.
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IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH
CWP No. 15584 of 2009
Date of Decision: 17.1.2012
Ashish Sharma and others
....Petitioners.
Versus
Bank of India and another
...Respondents.
CORAM:HON'BLE MR. JUSTICE M.M. KUMAR. HON'BLE MR. JUSTICE AJAY KUMAR MITTAL.
PRESENT: Mr. Karan Bhardwaj, Advocate for the petitioners.
Mr. G.S. Anand, Advocate for the respondents.
M.M. KUMAR, J.
Mr. Bhardwaj, learned counsel for the petitioners states that the matter has been compromised and amicably settled. However, Mr. G.S. Anand, learned counsel for the respondents has placed on record the settlement dated 3.9.2011 which clearly reveals that the compromise offer made by the petitioners was sent to the competent authority-Zonal Office, Chandigarh and it was intimated by the competent authority that the matter falls within the power of Senior Branch Manager. According to para 3 of the letter, the stipulation for depositing Rs.1.60 lacs immediately was imposed and the left over amount was to be paid up to May, 2012 and interest at the rate of 12%
CWP No. 15584 of 2009 -2-
was to be charged. The aforesaid compromise reached between the parties has not been disputed by the learned counsel for the petitioner and is taken on record as Mark 'A'.
In view of the above, the writ petition is disposed of as having been rendered infructuous. We make it clear that both the parties shall be bound by the stipulations incorporated in the compromise dated 3.9.2011. In case, the petitioners fail to honour the terms and conditions of payment, then the whole amount due shall become due and shall be payable.
(M.M. KUMAR) JUDGE
January 17, 2012 (AJAY KUMAR MITTAL) gbs JUDGE
Ashish Sharma and others
Bank of India and another
M.M. KUMAR
AJAY KUMAR MITTAL
As recorded by the court registry
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