- 1 - 905.sj.189.11 in ss.560.11 skt IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION SUMMONS FOR JUDGMENT NO. 189 OF 2011 IN SUMMARY SUIT NO. 560 OF 2011 Pratima Mahendrakumar Loyalka ..Plaintiff -Versus- M/s.Jamnadas and Sons & Ors. ..Defendants .......... Mr.V.S.Khemka a/w. V.V.Khemka for the Plaintiff. Mr.Bhushan A. Walimbe for Defendant Nos.1 to 3. Mr.P.G.Sarda for Defendant Nos.4 to 6. .......... CORAM : S.J. VAZIFDAR, J. DATE : 10TH AUGUST 2011. P.C. 1 The Summons for Judgment and the Summary Suit are disposed of with the consent of the parties by the following order : (i) The defendants submit to a decree on admission in the sum of Rs.32,61,000/- together with interest at the rate of 12% per annum on a sum of Rs.23 lacs from the date of the filing of the suit i.e. 17th February 2011 till payment and/or realization. - 2 - 905.sj.189.11 in ss.560.11 (ii) The defendants agree and undertake to pay the above amount in 24 equal monthly installments commencing from 15th September 2011. In addition thereto interest shall be payable at the rate of Rs.12% per annum on the reducing balance along with each installment. (iii) In the event of any two defaults, the entire amount shall be due and payable forthwith and the plaintiff shall be entitled to execute the decree for the entire balance that may be due forthwith. (iv) Defendant Nos.4, 5 and 6 shall be liable only to the extent of the estate of one Mulraj J. Tanna – a deceased partner of defendant no.1. (v) The plaintiff agrees and undertakes not to execute the decree against defendant Nos.4 to 6 unless and until defendant nos.1, 2 and 3 made two defaults in payments as above. (vi) The defendants shall be entitled to accelerate the payments and in each payment, the interest will be payable only on the balance. Further, in the event of payment of any installment being made in advance, to that extent, there shall be no default for non-payment of the subsequent installment. Refund of court fees, if any, as per rules. No order as to costs.