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Judgment
Binoy Kumar, Presiding Member
The AR of the Judgment Debtor Company Mr. Nitin Sharma handed over a demand draft of an amount of Rs.19,15,487/- and a cheque dated 16.11.2024 for an amount of Rs.2,34,513/- to the learned Counsel for the Decree Holders who accepted the same.
The AR submitted that this is the full and final payment to be made as per the Order of the decree which is calculated with the interest @ 12% p.a. The learned Counsel for the Decree Holders accepted the same and submitted that no further amount is due from the Judgment Debtor Company..
Learned Counsel for the Decree Holders handed over the NOC from the State Bank of India for the loan taken on this unit to the AR who accepted the same. He further submitted that he will hand over the original documents to the AR of the Company in due course.
As jointly submitted by the learned Counsel for the Decree Holders and Mr. Tiju Thomas, the Decree Holder No.1 in person that the execution has been satisfied and therefore, the Execution Application is disposed of as having been satisfied.
The warrants issued against the Directors of the Judgment Debtor Company be withdrawn accordingly.