-1- IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION Suit No.2838 of 2008 M/s Polydrug Laboratories ..Plaintiffs vs. M/s Thia Chem (India) Private Limited and another ..Defendants Mr.P.C.Mankad i/b Mr.P.D.Kadam for plaintiffs Mr.Dharmesh Shah, authorised signatory of plaintiffs present. Mr.Sanjeev G.Patil Director of defendant no.1 and 2 for self. CORAM S.J.KATHAWALLA J. CORAM S.J.KATHAWALLA J. CORAM S.J.KATHAWALLA J. 2nd May, 2008 2nd May, 2008 2nd May, 2008 P.C. P.C. P.C. 1. This summary suit is filed by the plaintiffs against the defendants for a decree directing the defendants to pay a sum of Rs.74,83,161/- as per the particulars of claim being Exh. W to the plaint and further interest from the date of filing of the suit on Rs.74,83,161/- at the rate of 6% p.a. or at such other rate as this Court may deem fit and proper. The parties have tendered the consent terms dated 2nd May, 2009 and have sought an order in terms of the consent terms and for disposal of the suit in terms of the consent terms. The said consent terms are taken on record and marked "X" for identification. -2- 2. The said consent terms are signed by the authorised signatories of the plaintiffs’ company, director of defendant no.1 company, defendant no.2 and Advocates for the plaintiffs. There is no Advocate on record representing defendant nos.1 and 2. Certified true copy of the Board Resolution passed in the board meeting held on 24th April, 2009 of defendant no.1 company is taken on record and marked "X-1" for identification. The letter of authority issued by the plaintiffs company in favour of the authorised signatory Mr.Dharmesh Jetshi Shah is also taken on record and marked "X-2" for identification. 3. Under clause 2 of the consent terms, defendant no.2 has personally agreed and undertaken to pay on behalf of defendant no.1, an amount of Rs.74,83,161/- in five years payable by every 3 months i.e. by 15 instalments commencing from 30th September, 2009 to 31st March, 2013. Defendant no.2 has also unconditionally agreed and undertaken to issue 15 post dated cheques in favour of the plaintiffs, particulars of which are set out in paragraph 2 of the consent terms. Under clause 4 of the consent terms, it is agreed between the plaintiffs and defendants that in the event of any one specific default on the part of defendant no.2 as regards payment of instalments as set out in clause 3 of the consent terms, the summary suit -3- shall stand decreed in terms of prayer clause (a) and the plaintiffs shall proceed to execute the decree after giving credit to the defendants. The authorised signatory of plaintiff, and authorised signatories of defendant nos.1 and 2 appearing in person have informed the Court that the said consent terms are signed/executed by them of their own free will and volition and there is no force, fraud or coercion involved. 4. In view of the above, the suit stands disposed of in terms of the consent terms at X. There will be no order as to costs. Refund of court fees as per rules. (S.J.KATHAWALLA J.) (S.J.KATHAWALLA J.) (S.J.KATHAWALLA J.)