1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY O. O. C. J. Notice of Motion No.1813 of 2008 In Execution Application No.111 of 1999 In Award No.A.M. 72 of 1998 Premium Capital Markets & Investments Ltd. .. .. Applicant v/s. Umesh Kailashchand Gupta .. Respondent Mr.Nikam i/by M/s.S.Ashwinkumar for Applicant. Ms.Sophia Pinto for Respondent. Mr.Kazi, Dy.Sherif, present. ----- CORAM : SMT.ROSHAN DALVI, J. Dated : 1st September, 2008 P.C. : 1.This Execution Application has been taken out since 1999. An attachment has been levied on the property of the Respondent. Pending the Execution Application, the parties have settled their dispute. The settlement is borne out by the letter dated 17.4.2008 exchanged by both the parties. In the letter of the Respondent to the Applicants, the Respondent has offered to settle balance of the dues on lump sum of Rs.4,51,000/-, which would include the principal, interest and legal costs in full and final settlement of his dues. The Respondent has set out ten cheques to be issued by the 2 Respondent totalling to Rs.4,51,000/-. The Respondent called upon the Applicants to accept the same in full and final settlement of his due liability as of 17.4.2008 and withdraw the Execution application. 2.In the letter of the same date of the Applicants to the Respondent's Advocate the Applicant acknowledged receipt of Rs.4,51,000/- towards the full and final settlement of their dues. They stated that they shall withdraw the Execution Application and the Court case filed against the Respondent on credit of the proceeds of the above instrument in their Bank Account. They also stated that the dispute was mutually settled to their mutual satisfaction and that in future no dispute regarding the above dues would remain pending between the parties on payment of Rs.4,51,000/-. 3.Consequently, both the parties have expressly settled their dispute on 27.4.2008. The Applicants agreed to withdraw the Execution Application and the Court case. The Applicants also stated that nothing more was due and payable. 4.For the last 15 months, the Applicants have not withdrawn 3 the Execution Application and the Court case. Hence, the Respondent has taken out this Notice of Motion. It is seen that the dispute is completely settled. This needless proceeding has been initiated because of the breach of the promise made by the Applicants. The Execution application is required to be withdrawn but has not been withdrawn. It is, therefore, dismissed. The Notice of Motion is accordingly made absolute in terms of prayers (a), (b) and-(c). 5.The Applicants shall pay costs of this Notice of Motion to the Respondent fixed at Rs.500/-. [SMT.ROSHAN DALVI, J.]