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2006 Supreme(Cal) 155

GIRISH CHANDRA GUPTA
USHANIL MERCANTILE PRIVATE LTD. – Appellant
Versus
UCO BANK – Respondent


Advocates Appeared:
S.CHAUDHARY, SOUMEN SEN

Girish Chandra Gupta, JJ.

( 1 ) THE Order of the Court was as follows : the writ petitioner, in the present case, is the borrower. The respondent bank is the lender. The respondent Bank obtained a certificate for a sum of Rs. 22,27,416. 38p. against the writ petitioner from the Debts Recovery Tribunal. The certificate was issued on September 24, 1997. Subsequently, a settlement camp was held where the parties to this writ petition amicably settled that a consolidated sum of Rs. 16,77,000/- would be payable by the writ petitioner to the respondent Bank within September 30,2002. On the basis of the aforesaid settlement arrived at between the parties, the recovery proceedings were stayed. The writ petitioner, it appears, could not pay the settled amount within the stipulated time. There has thereafter, been further negotiations between the parties taking into consideration the interest for the delay in payment of the settled amount. Parties agreed that a sum of Rs. 22,73,000/- shall be payable instead of the sum of Rs. 16,77,000/ -. It appears from the particulars furnished at page 62 of the writ petition that the aforesaid sum has duly been paid. After the amount was paid by the writ







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