Kuldeep Singh and Others vs Bhagwan and Others

Rajiv Sahai Endlaw, J.—The appeal impugns the judgment and decree dated 31.05.2002 in Suit No. 113/2002 (Old No. 325/1989 of the High Court of Delhi) filed by the respondents against the appellants for recovery of Rs. 4,09,200/-. The learned Additional District Judge has vide the impugned judgment decreed the suit in favour of the respondents and against the appellants for recovery of Rs. 3,00,000/- with interest @6% per annum from 17th December, 1988 till the institution of the suit, pendente lite and future till realization and with costs. Notice of the appeal was issued and vide order dated 23rd September, 2002, subject to the appellants depositing the sum of Rs. 3,00,000/- in this Court, the operation of the judgment and decree was stayed. The statement of the counsel for the appellants that the said amount of Rs. 3,00,000/- had been deposited in this Court is recorded in the order dated 29.10.2002. On 12th December, 2002 the appeal was admitted for hearing and the Trial Court record requisitioned and the earlier ad-interim order confirmed and the amount deposited ordered to be kept in a fixed deposit receipt; it was further directed that the succeeding party shall be entitled to the interest thereon. The appeal was vide order dated 17.11.2011 dismissed in default of appearance of the parties and the amount deposited along with accrued interest was ordered to be released to the respondents. The appeal was subsequently restored on the application of the appellants.

The counsel for the appellants was heard on 12.08.2013. The counsel for the respondents on that date stated that the counsel for the appellants had earlier given a proposal for settlement, which was now agreeable to the respondents. The matter was adjourned to today to enable the counsel for the appellants to obtain instructions whether the offer earlier made to the respondents was still valid or not. The parties were also directed to appear in person today.

The counsels state that one of the appellants and some of the respondents are present in person.

The counsel for the appellants states that the amount of Rs. 3,00,000/- as aforesaid directed was deposited not in this Court but in the Court of Sh. Sanatan Prasad, Civil Judge, Delhi in execution filed in the suit from which this appeal arises on 5th October, 2012 vide Challan copy of which has been handed over to the counsel for the respondents.

It has now been agreed between the parties as under:-

(i). That the amount of Rs. 3 lacs deposited by the appellants vide challan copy of which has been given to the counsel for the respondents in the State Bank of India (SBI), Tis Hazari, Delhi be immediately released to the respondents. The counsel for the respondents on instructions from the respondents states that for convenience, the check/pay order in refund of this amount be issued in the name of the respondent no. 1 only.

(ii). It is not very clear whether any interest has accrued on the amount of Rs. 3 lacs so deposited by the appellants. It has as such been agreed that if no interest has accrued on the said amount, the appellants/judgment debtors shall not be liable for any interest amount under the decree and the decree shall stand satisfied on the release of the said amount of Rs. 3 lacs to the respondents.

(iii). However if any interest has accrued on the said amount of Rs. 3 lacs, as is expected in view of the order of this Court, the same to the extent of 6% shall be released to the respondents (again by inclusion in the pay order/cheque aforesaid in the name of the respondent no. 1 only) and the amount in excess of interest at the rate of 6% shall be refunded to the appellants by issuance of pay order/cheque for the said amount in the name of appellant no. 1 Kuldeep Singh only.

The aforesaid agreement/settlement between the parties is found to be lawful and is allowed and the appeal is decided in terms thereof and the judgment/decree of the Trial Court impugned in this appeal is modified to that extent.

The parties are left to bear their own costs.

Decree sheet be drawn up. The Trial Court/State Bank of India, Tis Hazari, Delhi is directed to release the amount of Rs. 3 lacs with interest accrued thereon in terms of aforesaid.