JUDGMENT - F.I. REBELLO, J.:---The Decree Holders have moved this Court for leave to execute the decree under section 13 r/w. section 44-A of the Code of Civil Procedure. The decree holders have annexed a certificate from the Master of Queen's Bench Division of the Supreme Court of England and Wales, that the decree for a sum of US$ 1,609,135.00 plus interest/liquidated damages to be assessed, remains outstanding in the sum of US$ 1,457,230.30 with interest/liquidated damages to be assessed. The certificate is dated 5-10-1998. Exhibit "C" is the Statement of Claim by the decree holders.

2. Judgment Debtors have filed their reply through the constituted attorney of judgment Debtor No. 2. The principle contentions as raised in the said reply is that a decree cannot be executed for the following reasons;

i) That the consent given, based on which a decree was passed on admission was not a free consent;

ii) That the decree violates the provisions of the Foreign Exchange Regulation Act;

iii) That Decree is not on merits;

iv) That Rate of interest in the form of liquidated damages is in violation of the laws of this country; and

v) That Application for execution is not properly made to the Pri

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