( 1 ) THE present suit was instituted by the plaintiff against the defendants seeking for a decree for declaration in favour of the plaintiff and against the defendants declaring that the plaintiffs have paid the entire dues of the defendant in terms of one time settlement dated 31. 3. 1995 and also for a permanent injunction restraining the defendants, their agents, employees, officers from in any manner revoking the one time settlement made between the parties vide defendant No. l s letter dated 31. 3. 1995.

( 2 ) PURSUANT to a request for loan made by the plaintiff the defendants approved the grant of the aforesaid loan by a letter dated 1. 1. 1987. Pursuant thereto the plaintiff company was granted a Rupee Term Loan and Foreign currency loan. The plaintiff duly availed of the said loan disbursed by the defendants No. 1,2 and 3 and various charges on the assets of the defendant company were given in favour of the defendants No. 1,2 and 3. The plaintiff became irregular in repayment of the said loan and gave a proposal for one time settlement to defendants 1,2 and 3. Pursuant thereto a one time settlement was agreed to between the plaintiff and the defendants