Satish Kumar And ORS v. M/S Dharam Pal Satish Kumar And ORS
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))/ " # , ,, % &1 "And whereas the parties have compromised and do not want to proceed with the suit to avoid any unpleasantness. The terms of the compromise agreed between the parties are as follows :
(i) That the party of the second part admits the liability to pay Rs.22,96,756.73/ with interest to the party of the first part as per the claim of the party of the first part sat up in the plaint.
(іi) That as agreed between the parties, party of the second part also admits their liability to pay interest @ 18% p.a... to party of the first part on the amount outstanding viz; Rs.22,96,756.73/ , but the party of the second part shall pay the interest @18% p.a. on the abovesaid amount only w.e.f. the date of filing of the suit i.e. 25.3.2006 onwards till date of realization. (iii) That the party of the second part admits having executed an agreement dated 28.3.2003 and confirm the contents thereof admitting party of the second part's
liability to pay the above said amount through Shri Dharam Pal and of handing over the vacant possession of a shop of party of the second part bearing private no.6 (ground floor) bearing khana shumeri no.917/1 19, Subhash Marmet, Bazaar Harcharan Dass Amritsar. Party of the second part also admits and confirms having executed a separate, formal Rent Note regarding the shop above said through Shri Dharam Pal in favour of Dhawan sons HUF through Shri Satish Kumar.
(iv) That party of the second part has agreed and undertakes that party of the first part shall have all the rights to let out the shop to any other tenant, give possession to him and receives 'Pagri' from him exclusively which amount of pagri shall be adjusted towards the repayment of outstanding amount due from party of the second part to party of the first part abovesaid, party of the second part undertakes to give all assistance and cooperation in this to the party to the first part. If this effect does not succeed, party of the first part shall continue to possess the shop abovesaid as tenant on the terms agreed.
(v) That besides the above shop, in order to repay the amount outstanding. Party of the second part also agrees and undertakes to transfer shop no.7 of Shri Dharam Pal son of Shri Rama Mal situated in Bazaar Harcharan Dass Amritsar, 15ft. 3 inches long and 8ft,2 inches broad with a total area of 14 sq. yds. bound on the Eastern side by Haveli, on the Western side by road, on the Northern side by property of Smt. Nirmal Kumari and on the Southern side by shop/property no.6, to party of the first part, by way of sale deed at the prevailing market price. (vi) That thereafter, still if there remains some balance to be paid, out of the amount abovesaid with interest party of the first part shall have all the rights to recover that balance amount by executing the decree against all or any of the constituent members of party of the second part.
(vii) The parties undertake to remain bound by the terms of the compromise.
(viii) That parties have no objection if the suit is decreed in terms of this compromise."
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-3 Ay Whether speaking/reasoned :
Yes/No Whether reportable :
Yes/No