IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH. C.W.P. No. 3419 of 2007 DATE OF DECISION : 03.04.2008 Faqir Chand Aggarwal .... PETITIONER Versus LIC Housing Finance Limited, Chandigarh and others ..... RESPONDENTS CORAM :- HON'BLE MR. JUSTICE SATISH KUMAR MITTAL HON'BLE MR. JUSTICE RAKESH KUMAR GARG Present: Mr. Ajay Tiwari, Advocate, for the petitioner. Mr. O.P. Narang, Advocate, for respondent No.1. * * * SATISH KUMAR MITTAL , J. ( Oral ) During the course of hearing, learned counsel for the petitioner, on instructions, states that the petitioner, who has purchased the mortgaged house from respondent No.2, after the execution of mortgage deed in favour of respondent No.1, is ready to pay an amount of Rs. 5,50,000/- within a period of four months, against the total amount of Rs. 5,94,055.90 paise payable by respondent No.2 to respondent No.1 as on 1.4.2008. He further states that the said payment may be deemed to be full and final payment of the entire outstanding amount against the loan account of respondent No.2 and all the title documents of the house in question be handed over to the CWP No. 3419 of 2007 -2- petitioner. Learned counsel for respondent No.1 Company, on instructions, accepts the said offer and states that at least an amount of Rs. 2,00,000/- be deposited within a period of one month and the remaining amount of Rs. 3,50,000/- be paid within three months thereafter. In view of the aforesaid consensus and terms, arrived at between the parties, this petition is disposed off in terms of the above settlement between the parties. However, in case, the petitioner does not pay the aforesaid agreed amount within the aforesaid stipulated time, then this petition shall be deemed to be dismissed and it will be open for the respondent No.1 company to recover the entire outstanding amount in accordance with law. ( SATISH KUMAR MITTAL ) JUDGE April 03, 2008 ( RAKESH KUMAR GARG ) ndj JUDGE