AI Structured Summary
Not yet generated for this judgment
Judgment
Although warrant of arrest was issued against the judgment debtor and the said warrant is made returnable on 5th January, 2018 the matter was mentioned yesterday by the learned Counsel representing the judgment debtor and he has orally prayed for recalling of the warrant. The matter is accordingly listed today. The judgment debtor appears in person and such appearance is treated as surrender to Court. On an undertaking given by the judgment debtor that he shall file an affidavit of asset in Form No.16 A of Appendix E of the Code of Civil Procedure and shall be present for examination as and when he is directed the warrant stands discharged.
The judgment debtor on oath has submitted that he has paid a sum of Rs.4.13 lakhs out of Rs.8,87,575/- being the amount financed by the award holder and he shall pay the remaining principal by three equal installments. The judgment debtor shall pay a sum of Rs.2.5 lakhs within a period of four weeks from date and shall appear on 16th February, 2018 when his prayer for acceptance of the remaining balance amount as full and final settlement of the claim of the decree holder shall be considered. The decree holder upon receipt of the said amount of Rs.2.5 lakhs shall adjust the said amount towards the principal and shall furnish the statement of account on the adjournment date. The said amount of Rs.2.5 lakhs shall be accepted by the award holder without prejudice to its rights and contentions in this proceeding.
The judgment debtor shall file an affidavit of asset in Form No.16A of Appendix E of the Code of Civil Procedure within four weeks from date.