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1992 Supreme(Bom) 490

S.M.JHUNJHUNUWALA
Rizvi Nagar Co-op. Hsg. Sty. Ltd. . – Appellant
Versus
Municipal Corporation of Greater Bombay and others – Respondent


JUDGMENT - S.M. JHUNJHUNUWALA, J.:—In the suit for declaration that auction sale conducted by 1st defendants on 25th October, 1989 in favour of 3rd defendant was illegal, invalid, null and void and not binding on the plaintiffs, Consent Terms were filed and Consent Decree in terms of the said Consent Terms was passed on 11th March, 1992. The plaintiffs agreed to pay to 3rd defendant the sum of — Rs. 7,35,000/- with interest thereon at the rate of 18% per annum from 20th October, 1989 till date of payment in the manner provided for in the said Consent Terms. Clauses 1, 2, 3, 4 and 5, which are relevant for the purposes of this Chamber Summons, read as follows :

"1. The plaintiffs to pay to the 3rd defendant a sum of Rs. 7,35,000/- (Rupees seven lakhs thirty five thousand only) with interest thereon at the rate of 18% from 20th October 1989 till the date of payment as follows :

(a) A sum of Rs. 4,00,000/- (Rupees four lakhs) on or before 15th March 1992.

(b) The balance of the amount of — Rs. 3,35,000/- (Rupees three lakhs thirty five thousand) on or before 15th May 1992.

2. In case of default in payment of any of the above instalments as mentioned above, auction sale will stand automati






























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