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Judgment
Ashok B. Hinchigeri, J.—The appellants have called into question the single Judge''s order dated 05.04.2014 passed in WP Nos. 50029/2013 & 51586/2013.
After arguing the matter for quite sometime, the parties have arrived at a negotiated settlement. They have filed the compromise petition duly signed by both the appellants and the respondent Nos. 2 and 3 and their respective learned advocates. Learned advocates appearing for the said parties state that the parties have entered into the settlement of their own volition and without any duress from anybody. The compromise petition reads as follows;
"Compromise Petition Under Order XXII Rule 3 of CPC Read with Article 226 and 227 of the Constitution of India:
The above named Appellants and Respondent No. 2 begs to state as follows:
That the above Writ Appeal is directed against the order dated 05.04.2014 passed by the Learned single Judge in W.P. NO. 50029/2013, 51586/13. During the pendency of the above Writ Appeal, the Appellants and Respondents have entered into negotiations for full and final settlement of the entire amount claimed by the 2nd respondent. After threadbare discussion, the parties have agreed to settle the matter mutually and file this joint memo which is as hereunder.
a) That the Appellants have paid a sum of Rs. 23 Lakhs as per the interim orders of the Learned Single Judge.
b) In addition to Rs. 23 Lakhs paid by the Appellants earlier, the Appellants have agreed to pay Rs. 25 Lakhs as full and final settlement in the following manner:
(i) The Appellants shall pay a sum of Rs. 5 Lakhs within 10 days from today i.e. on or before 03.10.2014 to the 2nd respondent society.
ii) Balance amount of Rs. 20 Lakhs shall be paid in 6 monthly installments by way of Demand Draft addressed directly to the 2nd Respondent commending from 4th October 2014 till 10th March 2015.
a) First installment of Rs. 3,33,333/- shall be paid on or before 16th October 2014.
b) Second installment of Rs. 3,33,333/- shall be paid on or before 10th November 2014.
c) Third installment of Rs. 3,33,333/- shall be paid on or before 10th December 2014.
d) Fourth installment of Rs. 3,33,333/- shall be paid on or before 10th January 2015.
e) Fifth installment of Rs. 3,33,333/- shall be paid on or before 10th February 2015.
f) Sixth installment of Rs. 3,33,335/- shall be paid on or before 10th March 2015.
After receipt of the last installment from the Appellants, the 2nd respondent society shall return all the original documents of title deeds of the mortgaged property to the 3rd respondent Sri. G. Madhava Rao and issue "No due Certificate" for having cleared the entire loan to the Appellants and the Guarantor.
That the 2nd respondent shall address a letter to the jurisdictional Sub Registrar by executing loan discharge deed of the mortgaged property and make entries in the Encumbrance Certificate for having cleared the loan.
The Appellants and Respondents shall abide by the said terms of compromise petition as stated above strictly and both the parties are at liberty for any legal action as per law in case of breach of the terms of the Compromise Petition. Either of the parties have no claims whatsoever after discharge of the loan (account No. SL 10/99).
Therefore, it is prayed that this Hon''ble Court may be pleased to record the above Compromise Petition entered into between Appellants and Respondents and dispose off the Writ Appeal in terms of the above Compromise petition in the interest of justice.
Schedule Property
All that Property bearing No. 555/6, 7th A Cross situated at Sunkenahalli extension, Hanumanthanagar, Bangalore-560019 situated in corporation division No. 19 measuring East to West 30 ft. and North to South 52 ft. with built up area there as East by House No. 556, West by House No. 554, North by Road, and South by House No. 556/B.
Sd/- Advocate for Appellants (L.M. Chidannandayya)
Sd/- 1st Appellant
Sd/- 2nd Appellant
Sd/-
Advocate for 2nd Respondent (D.K. Sriramappa)
Sd/- Respondent No. 3
Sd/- Respondent (Authorised officer of the 2nd Respondent)"
Accepting and recording the compromise petition, the terms of which are extracted hereinabove, we dispose of these appeals.
No order as to costs.