SHREE VIJAYA FABRICS Vs. UNITED APPARELS INDIA

JUDGEMENT

(1.) BY way of instant petition under Article 227 of the Constitution of india, the petitioner has assailed the order dated 20th February 2004 whereby the Executing Court refused to issue warrants of attachment for recovery of the decreetal amount.

(2.) BRIEF facts relevant for the purpose of deciding this petition are that an award was passed in favour of the decree holder which became final since no objections were filed against the award. This award was for a sum of rs. 16,37,118. 35 inclusive of interest up to date of the passing of the award. The future interest was also awarded. As the award became final, the decree holder filed an execution petition for execution of the award. During execution, the Judgment Debtor approached the Decree Holder and offered to settle the matter. The parties negotiated a settlement and the decree holder agreed to settle the matter for Rs. 6. 25 lac in lieu of decree in case the payment was made as per the schedule agreed between the parties. Four post dated cheques were issued by the Judgment Debtor in the following manner: <FRM>JUDGEMENT_123_ILRDLH19_2009Html1.htm</FRM>

(3.) THE statement of Shri Gurminder Singh, Partner of JD firm was recorded wherein he gave following undertaking: