MANEK LEATHER INDUSTRIES Vs. SUNIR S SHARMA

JUDGEMENT

(1.) PRESENT First Appeal under Section 96 of the Code of Civil Procedure has been preferred by the appellants herein original defendants challenging the impugned judgment and decree dated 17.08.2009 passed by the learned 2nd Additional Senior Civil Judge, Vadodara in Special Civil Suit No.404/1993, by which the learned trial Court has allowed the said suit of the plaintiff directing the appellants defendants to pay a sum of Rs.6,91,147/- with interest at the rate of 17.25% with effect from 03.06.1994 and to recover the same from the properties of the appellants herein. By the said judgment and decree, the learned trial Court has also granted the permanent injunction against the appellants herein original defendants restraining them from transferring, alienating the movable properties hypothecated with the State Bank of India situated in the property mentioned in the operative portion of the impugned judgment and decree.

(2.) TODAY, when the present Appeal is taken up for hearing, Shri D.M. Ahuja, learned advocate appearing on behalf of the appellants has stated at the Bar that the appellants have deposited a total sum of Rs.26,68,716/- with the Registry of this Court as full and final claim against the appellants pursuant to the judgment and decree passed by the learned trial Court. He has also stated at the Bar that aforesaid amount be paid to respondent No.1 original plaintiff who was transposed as plaintiff pursuant to the order passed by the learned trial Court below Exh.16, as full and final settlement of his claim in the aforesaid suit. It is submitted by Shri Ahuja, learned advocate appearing on behalf of the appellants that on payment of aforesaid amount of Rs.26,68,716/- to respondent No.1 herein, the impugned judgment and decree passed by the learned trial Court is satisfied and therefore, it is requested to pass appropriate order directing the State Bank of India original plaintiff to return the documents which are available with the State Bank of India. 2.Shri Chinmay Gandhi, learned advocate appearing on behalf of opponent No.1 substituted plaintiff and Ms. Nalini Lodha, learned advocate appearing on behalf of the original plaintiff State Bank of India have requested to pass appropriate order on payment of aforesaid of Rs.26,68,716/- to respondent No.1 herein transposed/substituted plaintiff. Ms. Lodha, learned advocate appearing on behalf of the original plaintiff State Bank of India has submitted that on the decree being satisfied, automatically the permanent injunction granted by the learned trial Court shall be vacated and that Bank will issue appropriate No Objection Certificate releasing movable properties from hypothecation after following due procedure.