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Judgment
C.N. Ramachandran Nair, J.—Heard learned Counsel for the Appellant and learned Standing Counsel for the Respondent.
Even though challenge against the execution proceedings lacks any merit and we completely endorse the views of the learned Single Judge, we feel considering the financial difficulty of the Appellant expressed by his Counsel, we feel the installment facility granted by the learned Single Judge could be liberalised as given below:
The execution court will credit the entire payments so far made, and the balance with accrued interest will be paid by the Appellant/Petitioner without any future interest in nine equal monthly installments, first of which will be paid on or before 10/04/2011 and the balance on or before 10th day of every following month. Consequence of default will be same as stated by the learned Single Judge.
The execution court will certainly work out whether there is any mistake or incorrectness in the amount demanded by the Bank. In other words, the execution court should ensure that recovery is strictly in accordance with the award and subject to the modification made by us ie. waiver of future interest from now onwards.
This Writ Appeal is disposed of as above.