Ajay Kumar Mittal, J. - (1.) THE judgment -debtor -petitioner by way of present petition under Article 227 of the Constitution of India seeks setting aside of the order dated 7.3.2011, Annexure P.4 passed by the Executing Court whereby warrants of arrest of the petitioner have been issued for execution of the recovery of decretal amount.
(2.) THE judgment -debtor had filed RSA No.1426 of 2011 wherein on 5.4.2011, following order was passed: Learned counsel for the appellants, after arguing for some time, seeks permission to withdraw the instant second appeal, with prayer that the appellants be permitted to pay the decretal amount in installments and it is further stated that the appellants are also ready to pay interest @ 6% per annum on the decretal amount from today onwards. Prayer is genuine. I intend to accept the same without issuing notice to the plaintiff -respondent to save him of the expenses he may have to incur to engage counsel in the instant second appeal, if notice of motion is issued to him. On the contrary, if the prayer for payment of decretal amount in installments is accepted, it will ensure timely recovery of the decretal amount without hazards of filing execution petition and securing attachment and auction etc., of property of defendants. In view of the aforesaid, the instant second appeal is dismissed as withdrawn. However the appellants are permitted to pay the decretal amount in monthly installments of Rs.10,000/ -each, the first installment being payable on or before 25.4.2011 and subsequent installments on or before 25th of every succeeding English Calendar month. The appellants shall also pay simple interest @ 6% per annum on the decretal amount of Rs.2,69,025/ -from today onwards. The interest amount shall be payable after the principal amount is paid. If the appellants commit default in payment of two consecutive installments, the entire balance amount shall become recoverable in lump sum alongwith interest as aforesaid. The appeal stands disposed of accordingly. According to the aforesaid order, the petitioner has been allowed to pay the decretal amount in monthly installments of Rs.10,000/ -each, the first installment being payable on or before 25.4.2011 and subsequent installments on or before 25th of every succeeding English Calendar month alongwith simple interest @ 6% per annum on the decretal amount of Rs.2,69,025/ -. Learned counsel for the petitioner states that the said statement is being honoured. The same has not been disputed by learned counsel for the respondent.
(3.) IN view of the above, the order dated 7.3.2011 is set aside. However, it is made clear that in case, payment of two consecutive installments in terms of order dated 5.4.2011 passed in the above mentioned RSA is not made, the Executing Court shall be at liberty to execute the same through warrants of arrest of the petitioner as ordered on 7.3.2011.;