JUDGMENT

Manmohan, J. (Oral)--Present appeal has been filed challenging the decree dated 22nd May, 2019 passed by the Learned Single Judge of this Court, whereby the Learned Single Judge was pleased to decree the suit for recovery filed by the Respondent for a sum of Rs.2,15,74,500/- along with interest at the rate of 7% per annum from the date of institution of the suit till its realisation.

2. Learned counsel for the parties state that the matter has been amicably resolved by way of an out of Court settlement. However, learned counsel for the appellants prays for refund of 50% of the Court fee.

3. The Supreme Court of India in `The High Court of Judicature at Madras represented by Its Registrar General Vs. M.C. Subramaniam & Ors.', SLP(C) No. 3063-3064/2021 decided on 17th February, 2021 has held as under:

"18. The Delhi High Court has also taken a similar view in J.K. Forgings v. Essar Construction India Ltd. & Ors., (2009) 113 DRJ 612:

"11. The laudable object sought to be achieved by inserting and amending these sections seems to be speedy disposal. The policy behind the statute is to reduce the No. of cases by settlement. Section 89 of C.P.C. and Section 16 Court Fee Act