1 fa1183 ssp IN THE HIGH COURT OF JUDICATURE AT BOMBAY CIVIL APPELATE JURISDICTION FIRST APPEAL NO.1183 OF 2011 Kolgaon Shikshan Prasarak Mandal ...Appellant vs. Leena Narayan Raut & Ors. ...Respondents Mr.G.J.Sabnis for the appellant Mr.Mahesh Rawool for the respondent no.1 (plaintiff) CORAM : A.S.OKA,J. DATE : JULY 19, 2011 P.C.: 1 Heard learned counsel for the appellants and the learned counsel for the first respondent. The learned counsel for the parties state that the principal amount payable under the impugned decree is Rs.3,34,135/-. The learned counsel for the first respondent on instructions states that the first respondent has no objection if the interest part of the impugned decree is quashed and set aside. 2 The learned counsel for the appellants prays for grant of suitable installments to pay the decretal amount of Rs.3,34,135/-. The learned counsel for the first respondent submitted that the first installment should be of a sum of Rs.1,00,000/-. 3 The appellants have agreed to pay the principal amount of Rs.3,34,135/-. The first appellant is running an educational institution which is At & Post Kolgaon, Taluka Sawantwadi, District Sindhudurg. The Appellant is operating in rural area. Hence, suitable installments deserve to be 2 fa1183 granted to the appellant. 4 Hence, I pass the following order : i) Clause (3) of the operative part of the impugned decree dated 18th February 2011 is quashed and set aside and the decretal amount shall be Rs. 3,39,135/-. ii)The appellants shall pay decretal amount of Rs. 3,34,135/- to the first respondent as follows : (a)A sum of Rs.50,000/- on or before 16th August 2011; and (b)The balance amount by installments of a sum of Rs.20,000/- per month from September 2011 till the payment of entire balance amount. iii)Monthly installments shall be paid to the first respondent or shall be deposited with the Trial Court on or before 10th day of every calendar month and the first respondent will be entitled to withdraw the same. iv) In the event of the appellants committing two consecutive defaults in payment of monthly installments, it will be open for the first respondent to execute the impugned decree and recover the entire decretal amount. (v) Impugned Judgment and decree is modified in above terms. (vi) First Appeal is disposed of on above terms with no order as to costs. (vii) Civil Application no.2249 of 2011 does not survive and the same is disposed of. JUDGE