R.S.A. No.481 of 2008 (O&M) -1- ... IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH R.S.A. No.481 of 2008 (O&M) Date of Decision : 23.08.2010 M/s Amber Enterprises (I) Pvt. Ltd. and another ......Appellants Vs. Jesa Ram Vishan Narain ......Respondent CORAM : HON'BLE MR. JUSTICE RAKESH KUMAR GARG Present: Mr. S.N. Chopra, Advocate, for the appellants. Mr. Sunil Panwar, Advocate, for the respondent. *** RAKESH KUMAR GARG, J.(Oral) This is defendants' second appeal challenging the judgment and decree of the Courts below whereby the suit of the plaintiff-respondent for recovery of a sum of Rs.7,42,137-29 p. (i.e., Rs.5,15,780-50 p. towards principal amount plus Rs.2,26,356-79 p. towards interest claimed @ 24 % per annum from the date it became due till the date of filing of the present suit) was decreed by the lower appellate Court to the extent of passing a decree in favour of the plaintiff-respondent for recovery of Rs.7,42,137.29 p. along with interest @ 6 % per annum from the date of filing the suit till its realization with costs. During the course of arguments, a consensus has been raised between learned counsel for the parties and on their R.S.A. No.481 of 2008 (O&M) -2- ... agreement, it has been amicably settled that the plaintiff-respondent is ready to forego his claim towards interest to the extent of Rs.1,00,000/- till the date of filing of the suit (i.e., instead of a sum of Rs.2,26,356-79 p., the plaintiff-respondent has agreed to accept a sum of Rs.1,26,356-79 p. as the amount of interest accrued on the principal amount till the filing of the suit) subject to the condition that the whole of the decretal amount as agreed is paid to him within three months from today. Learned counsel appearing on behalf of the appellants has very fairly stated that the offer given by learned counsel for the respondent is acceptable. He has stated that this appeal be accepted in the aforesaid terms and modification be made in the judgment and decree passed by lower appellate Court and relief to that extent be given, to the appellants. Thus, on consensus of the parties, the judgment and decree of the lower appellate Court is modified to the extent that plaintiff-respondent is entitled to a sum of decretal amount at Rs.6,42,137.29 p. instead of Rs.7,42,137.29 p., including the interest upto the date of filing of this suit. The plaintiff-respondent is also entitled to interest @ 6% per annum as granted by the lower appellate Court on the aforesaid amount as interest pendente lite and future interest (i.e., interest @ 6% P.A. from the date of filing of the suit till its realization). The defendants-appellants shall pay the aforesaid amount within three months from today as agreed between the parties. In the case of failure on the part of the appellants, the R.S.A. No.481 of 2008 (O&M) -3- ... appeal is deemed to be dismissed and the respondent shall be entitled to execute the decree of the lower appellate Court in accordance with law. Consequently, the appeal is disposed of in the aforesaid terms. (RAKESH KUMAR GARG) JUDGE 23.08.2010 neetu