RAJESH BINDAL, J. - (1.) THIS is a bunch of petitions, in which 17 different complaints were filed by the respondent under Section 138 of the Negotiable Instruments Act (for short 'the Act') against the petitioners.
(2.) DURING the pendency of the proceedings, certain amounts had already been paid by the petitioners to the respondent towards the settlement of their liability against the cheques issued to the respondent. As per counsel for the petitioners, a compromise was arrived at between the parties and in terms thereof, the petitioners had cleared all the instalments, except one amounting to Rs. 1,64,000/-, which the petitioners were ready and willing to pay along with interest thereon for the delay. This offer was not acceptable to the respondent. At this stage, counsel for both the parties got a pass over to seek instructions from their respective clients as to whether the matter could be compromised on any other figure settled between the parties. When the case was taken up after first pass over, counsel for both the parties, under instructions from their respective clients, stated that the entire dispute in all the 17 complaints, filed by the respondent against the petitioners, can be treated as settled in case the petitioners pay a sum of Rs. 4,65,000/-, as full and final settlement of disputes, up to 30.9.2006 in four equal instalments, i.e. Rs. 1,15,000/- per month, to be paid by the end of June, July and August, 2006 and the balance amount of Rs. 1,20,000/- finally to be paid by 30.9.2006. It is further agreed between the parties that in case the petitioners do not stick to the schedule of payment of the amount, as agreed to above, the respondent will be at liberty to get the complaints revived before the trial Court.
(3.) IN view of the above compromise between the parties, the present petitions are allowed. The complaints under Section 138 of the Act pending in the Court of Judicial Magistrate Ist Class, Amritsar are quashed.;