BANK OF BARODA Vs. SADRUDDIN HASAN DAYA

JUDGEMENT

(1.) This petition has been preferred by Bank of Baroda for initiating contempt proceedings against the respondents; Sadruddin Hasan Daya and Shohin S. Daya. The facts leading to the filing of the contempt petition are as under :

(2.) The Bank of Baroda filed Summary Suit No. 2949 of 1996 against (1) M/s. Dawood and Co., (2) Sadruddin Hasan Daya, and (3) Shohin S. Daya for recovery of certain amount of money. The respondents were granted unconditional leave to defend the suit by the order dated 15-4-1998 passed in Summons be Judgment No. 580 of 1996. This order was challenged by the petitioner-Bank of Baroda by filing Special Leave Petition (Civil) No. 2730 of 1999, which was re-numbered as Civil Appeal No. 4138 of 1999. During the pendency of the appeal, the parties arrived at a settlement, the minutes of the decree were drawn and the same were placed on record. By the order dated 28-7-1999, the appeal was disposed of with a direction that there shall be a decree in terms of the minutes of the decree drawn by learned counsel for the parties. As per the said consent terms the parties, inter alia, agreed that the respondents (defendants) would pay to the petitioner (plaintiff) Rs.2,44,71,616/- and Rs. 2,40,69,447/- together with interest thereon as specified, in accordance with the schedule of instalments mentioned in paras 3(a) and 4(a) respectively of the said order. It was further agreed between the parties that in the event of default by the respondents to abide by the said consent terms as per Cls. 3 and 4, the remaining amount shall forthwith become due and payable and the petitioner (plaintiff) will become entitled to execute the decree. Clauses 5(a), 5(b), 7 and 9 of the consent terms, which are relevant, are being reproduced below :

(3.) Oman International Bank, SAOD had also filed Summary Suit No. 4571 of 1996 against M/s. Dawood and Co. and the respondents for recovery of certain amount in Bombay High Court. Against an order passed in Summons for Judgment No. 493 of 1997 in the said suit, an appeal was preferred by M/s. Dawood and Co. and others before the Division Bench, wherein the parties entered into a settlement. The appeal was disposed of in terms of the consent terms by the order dated 5-10-1999, which reads as under :