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1980 Supreme(SC) 251

SUPREME COURT OF INDIA
N.L.Untwalia : P.N. Shinghal : V.D.Tulzapurkar
India Mica And Micanite Industries Limited
Versus
State Of Bihar
Case No. : 1445 of 1970
Date of Decision : 5/2/80

Headnote:

Mortgage Loan - Pay Balance - Recovery of a large amount - In this case certificate proceedings were started against appellant for recovery of a large amount of mortgage loan and interest - Appearing for appellant informs that a major portion of amount has been recovered or paid - Only a small portion remains to be paid now - Appearing for respondent State states that he is not in a position to say as to what exactly is amount due from appellant now but he has no Objection if appellant undertakes to pay balance within such time as court thinks reasonable to grant – Held, On facts and in circumstances of case we direct that balance of amount would be quantified either by agreement of parties within three from today or by Certificate Officer within three months thereafter - Appellant must pay entire balance due - Together with interest if any within year from date of quantification of amount either by agreement of parties or by Certificate Officer - In view of undertaking given to this court as aforesaid this - Appeal is dismissed

(1) IN this case certificate proceedings were started against the appellant for recovery of a large amount of mortgage loan and interest. Mr S.K. Sinha, appearing for the appellant informs us that a major portion of the amount has been recovered or paid. Only a small portion remains to be paid now. He, therefore, prayed for a years time to pay the balance due. Mr B.P. Singh appearing for -the respondent State states that he is not in a position to say as to what exactly is the amount due from the appellant now but he has no Objection if the appellant undertakes to pay the balance within such time as the court thinks reasonable to grant. On the facts and in the circumstances of this case we direct that the balance of the amount would be quantified either by agreement of the parties within three months from today or by the Certificate Officer within three months thereafter. The appellant must pay the entire balance due. together with interest if any, within one year from the date of the quantification of the amount either by agreement of the parties or by the Certificate Officer. In view of the undertaking given to this court as aforesaid this appeal is dismissed as withdrawn without any order as to costs. In case of default of the appellant to pay the entire balance of the dues. the certificate proceedings shall proceed to be disposed of in accordance with law.

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