AI Structured Summary
Not yet generated for this judgment
Judgment
Manoj Jain, J
After hearing arguments for some time, learned counsel for petitioners states that as per instructions, the petitioners are no longer interested in pursuing the present petition and, therefore, it may be disposed of as not pressed.
It has also been apprised that petitioners are not interested in prolonging the execution in question and while reserving their rights to seek the recoverable amount from M/s Devi Dayal Aluminum Industries, they would pay the entire balance decreetal amount (including interest and component which was alleged to be paid by M/s Devi Dayal Aluminum Industries) within 10 months from today.
While reserving their above right, a schedule of repayment has been placed on record. Copy of the schedule has also been shared with the learned counsel for respondent.
Mr. S D Singh, learned counsel for respondent states that as per his calculation, the outstanding amount would be Rs.14,20,18,598/-. Whereas, as per petitioners, the payable outstanding amount is Rs.13,53,11,033/-.
Learned counsel for petitioner, however, states that in case, there is some error in calculation of the outstanding amount, it would be assured that such difference is also paid on or before the last day of installment which is agreed as 26.05.2025.
Both the sides would be at liberty to get the exact decreetal amount quantified before the Hon’ble NCDRC so that there is no uncertainty or ambiguity in this regard of any kind whatsoever.
Fact, however, remains that the entire outstanding would be cleared as per the schedule which has been placed on record today and the difference, if any, would also be paid by the petitioners herein on or before 26.05.2025.
The schedule of payment submitted by way of affidavit of Mr. Rajan Wahal, Authorised representative of petitioner-Company be made part of e-file.
It is also made clear that such statement on affidavit given by Mr. Wahal is taken on record on behalf of all the judgment Debtors.
Without prejudice to his rights and contentions, Mr. S.D. Singh, learned counsel for the respondents states that he would not insist for issuance of any coercive process against the petitioner company or its Directors as long as the aforesaid schedule is adhered to scrupulously. However, at the same time, Mr. Singh also states that if there is any default and if the discipline, as mentioned in the schedule, is not maintained then it be ordered that the entire amount would become recoverable forthwith and the Hon’ble National Consumer Dispute Redressal Commission would be at liberty to take up the execution petition and to pass appropriate orders, including issuance of coercive process, if any.
In view of the above, the present petition is disposed of with the direction that the aforesaid schedule be scrupulously adhered to by the petitioners herein. It is made clear that the entire decreetal amount would be cleared positively on or before 26.05.2025 and the last installment would not only include the amount mentioned in para 5 of the affidavit filed today but also the remaining decreetal amount, if any, after it is being get ascertained before the Hon’ble NCDRC. In case of any default or delay, the entire amount would become recoverable forthwith and the Hon’ble NCDRC would be at liberty to take up the execution and to pass appropriate orders, including issuance of coercive process.
Petition stands disposed of in aforesaid terms. As a necessary corollary, the non-bailable warrants issued by the Hon’ble NCDRC stand recalled for the time-being.
Order dasti under the signatures of Court Master.