Judgment

Shah, J.-Respondent-Companies filed civil suit against Kamlesh Kamal & Company (defendant No. 1), Smt. Kamlesh Kohli, wife of Shri J.N. Kohli (defendant No. 2) and Shri Rajiv Kohli, son of Shri J.N. Kohli (defendant No. 3) for recovery of Rs. 85,62,500/- on the basis of Memorandum of Agreement dated 19th November, 1992. It was alleged that Smt. Kamlesh Kohli had been holding a membership ticket of Delhi Stock Exchange and had been carrying on business in the name of Kamlesh Kamal & Company (defendant No. 1). She approached the plaintiffs to provide finance for ‘Badla’ transactions in or about March/April, 1992. As on 10th September, 1992, a sum of Rs. 3.02 crore was due and pay­able by the defendants. On 21st September, 1992, plaintiffs filed Writ Petition No. 3324 of 1992 in the Delhi High Court against Delhi Stock Exchange impleading defendant No. 2 and J.N. Kohli, her husband as party respondents. The matter was settled between the parties by an agreement dated 19th November, 1992. In view of the agreement between the parties, the Court permitted withdrawal of the said petition. It is stated that payment of Rs. 65 lakhs was made to the plaintiffs on the basis of the said