JUDGMENT - V.P. TIPNIS, J.:---Central Bank of India filed a suit being Suit No. 278 of 1995 against the (1) Madalsa International Ltd. a company incorporated under the Companies Act, 1956, (2) Deepak Bhandari and (3) Hotel Emerald Pvt. Ltd. a company incorporated under the Companies Act, 1956 for recovery of large amount of more than Rs. 5 crores. Ultimately the parties reached a settlement and a decree on admission was passed on 16-4-1996 for a reduced amount of Rs. 1.34.94.692/-. The decree also provided that the decree shall not be executed and shall be marked as satisfied on the defendants jointly and severally paying the decreetal amount as mentioned under Clause (2) of the said decree on admission. It provided payment of a sum of Rs. 75, lacs within two months from the date of execution of the terms and the balance was to be paid in 9 monthly instalments each for minimum amount of Rs. 50 lacs, the first of which shall be paid on or before 30th June, 1996 and each subsequent instalments on or before the last day of each succeeding month so that the entitle balance decreetal amount shall be paid on or before 31st March, 1997. Under the very consent decree Hotel Emerald Private

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