1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY O. O. C. J. SUIT NO.4713 OF 1997 Bank of India. ...Plaintiff. Vs. Dealwal Estates Pvt.Ltd. ...Defendant. .... Mr. N.S.Fadia for the Plaintiff. Mr. N.G. Raut for the Defendant. ..... CORAM : DR.D.Y.CHANDRACHUD, J. August 6, 2009. P.C. The suit has been instituted by the Bank of India for the recovery of a sum of Rs.92,942.15 together with future interest. The claim arises out of a Bank Guarantee issued by the Bank in favour of a third party, HCL Ltd. for and on behalf of the Defendant which was invoked and encashed by the beneficiary. When the suit was placed for hearing, both the Learned Advocates stated before the Court that having regard to the nature of the claim and the amount involved, parties were desirous of amicably resolving the dispute. During the course of the hearing, the Learned Advocates have stated on instructions that the offer made by the Defendant for the payment of 2 an amount of Rs.1 lakh in full and final settlement of the dues of the Bank, within a period of two weeks, has been accepted. Both the Learned Advocates have requested the Court to pass the following order with the consent of parties and on the request of their respective clients without any further reasons being recorded. Hence, the following order is issued with the consent of the Learned Advocates and the parties: -(i) The Defendant submits to a decree on admission in terms of prayer clauses (a) and (b) of the suit; -(ii) In the event that the Defendant pays to the Plaintiff, an amount of Rs.1 lakh within a period of two weeks from today, the decree shall be marked satisfied and in that event, this payment shall be in full and final settlement of the claim which forms the subject matter of the suit; -(iii) In the event of any default, the decree shall become executable forthwith. 3 2. There shall be a decree and order in the aforesaid terms. The suit shall accordingly stand disposed of. ....