ORDER

R. V. Raveendran J. —

Leave granted. We have heard learned counsel for the appellants, the first respondent and the Receiver appointed by the High Court, who was impleaded on the direction of this Court as the second respondent.

2.The first respondent herein filed a suit for specific performance against the appellants herein. That suit was dismissed by a learned single Judge of the High Court in the year 1981. The first respondent filed an appeal against the dismissal of the suit before the Division Bench of the High Court. During the pendency of the appeal, the parties (first respondent and appellants) arrived at a settlement and in terms of the said settlement, the suit was decreed on 5.8.1986. Under the terms of settlement, the appellants agreed to sell 90 Kottahs of land to the first respondent or his nominees at a price of Rs.10,000/- per Kottah. Clauses 3, 6 and 7 of the ‘Terms of Settlement’ which are relevant, are extracted below:

“3. Immediately after the filing of these terms of settlement, the plaintiff shall pay to the defendants a sum of Rs.3,00,000/- (Rupees Three Lacs only) in part payment of the consideration and the balance sum of Rs.6,00,000/- (Rupees Six Lacs o