Bajaj Alliance General Insurance ... vs Notex Realty Limited & Anr
2023 Latest Caselaw 351 Cal/2

O-2

                               ORDER SHEET
                     IN THE HIGH COURT AT CALCUTTA
                      Ordinary Original Civil Jurisdiction
                               ORIGINAL SIDE

                              IA NO. GA/3/2022
                                In CS/13/2015

         BAJAJ ALLIANCE GENERAL INSURANCE COMPANY LTD.
                               Vs
                   NOTEX REALTY LIMITED & ANR.

  BEFORE:
  The Hon'ble JUSTICE KRISHNA RAO

Date: 06TH February, 2023.

Appearance:

Mr. Snehashis Sen, Adv.

Mr. Debraj Sahu, Adv.

Mr. Abhishek Banerjee, Adv.

..for the decree holder

Mr. Pradeep Kumar Jewrajka, Adv.

Ms. Pooja Jewrajka, Adv.

Mr. Avinash Kankani, Adv.

Mr. Sarosij Dasgupta, Adv.

Mr. Suman Majumder, Adv.

..for the defendants.

The Court: Counsel for the respective parties are present.

By an order dated 7th September, 2016 this Court has passed a decree

holding that the plaintiff is entitled to get a decree for Rs.16,19,702/- which

includes the security deposit of Rs.10,57,755/- and interest accrued thereon

at the rate of 18% per annum from January 16, 2012 to January 8, 2015

when the instant suit was filed by the plaintiff.

The Court has further directed that the plaintiff is also entitled to get

decree for further interest at the rate of 18% per annum on the decretal

dues from the defendant. After order dated 7th September, 2016 the plaintiff

has initiated an execution proceeding being EC No. 1 of 2020.

During the pendency of the execution proceeding by the order dated

7th October, 2021 at the instance of the parties, this Court directed the

judgement debtor to deposit the sum of Rs.16,00,000/- before the Registrar,

Original Side, who shall invest the said sum in an interest bearing account

with any nationalized bank without prejudice to the rights and contentions

of the parties.

Counsel for the respective parties submit that parties are ready to

settle the issue with regard to the remaining part of the order dated 7th

September, 2016 and accordingly, the judgement debtor is directed to

forward the Terms of Settlement to the decree holder within a week from

date.

On receipt of the Terms of Settlement the defendant shall give reply to

the decree holder. The decree holder shall inform the judgement debtor

whether the decree holder is ready to accept terms of settlement or not or

whether any rectification is required with regard to the Terms of Settlement

within a week thereafter.

Let the matter appear on 23rd February, 2023.

Counsel for the judgment debtor submits that Rs.16,00,000/- which

was deposited by the judgement debtor was in Terms of Settlement arrived

between the parties and that is full and final settlement but the decree

holder denied the contentions made by the Counsel for the judgement

debtor and the said issue will be decided at the time of final hearing of the

instant case.

(KRISHNA RAO, J.) Sbghosh