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Judgment
4 paragraphs · 191 wordsDr. Kauser Edappagath, J
The petitioners are the judgment debtors and the respondent is the decree holder in E.P.No.81/2022.
E.P.No.81/2022 has been filed to realise the arbitration award in Award No.845/2019. The total decree amount is ₹1,32,000/-. The amount claimed in E.P.No.81/2022 is ₹2,00,753/-. It is submitted by the learned counsel for the petitioners that some payments have been made in instalments. The counsel further submits that the petitioners are prepared to clear the entire debt in ten equal monthly instalments. It is seeking that limited relief, this original petition has been filed.
Having heard both sides, this original petition is disposed of, granting opportunity to the petitioner to clear the entire amount due in six equal monthly instalments, starting from 1/7/2024. The subsequent instalments shall be remitted on the 5th day of every succeeding months. In case of default on the part of the petitioners in payment of any of the instalments, the aforesaid facility shall stand cancelled, upon which the respondent/decree holder will be at liberty to proceed with the recovery proceedings. Subject to the above direction, the recovery proceedings in E.P.No.81/2022 shall be kept in abeyance.