Full Judgment Text
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NON-REPORTABLE
IN THE SUPREME COURT OF INDIA
CIVIL APPELLATE JURISDICTION
CIVIL APPEAL NO. 2469 OF 2016
[@ SPECIAL LEAVE PETITION (C) NO. 17899 OF 2012]
AMARJEET JOLLY & ANR Appellant(s)
VERSUS
CORPORATION BANK Respondent(s)
J U D G M E N T
KURIAN, J.
1. Leave granted.
2. The appellants have come up before this Court,
aggrieved by the Judgment dated 13.02.2012 passed by
the High Court of Delhi in RFA No. 82 of 2001.
3. As per the Judgment under appeal, the suit filed
by the Bank was decreed for recovery of US $ 18576.91
with interest at the rate of 16.5% per annum with
costs of Rs. 25,000/- for the appellants.
JUDGMENT
4. The appeal was being argued before this Court for
some time and on 01.02.2016, an offer was made by the
appellants that they would pay an amount of US
$12,000 with the applicable exchange rate as on
01.01.1988, together with interest at the rate of 9%
per annum. That offer was reportedly not acceptable
to the Bank.
5. The Bank, in turn, on 19.02.2016, has given a
counter offer whereby the Bank is prepared to settle
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the whole dispute by accepting the decreed amount of
US $18576.91 with interest at the rate of 9% per
annum with effect from the date of the suit namely,
17.07.1989. This offer is acceptable to the
appellants.
6. Therefore, this appeal is disposed of, as agreed
to by both the sides, as per the following terms :-
i) The appellants shall pay US $ 18576.91 at the
conversion rate of Rs. 15.60 per Dollar with 9%
interest from 17.07.1989.
ii) The amount shall be deposited with the
respondent-Bank within a period of 9 months from
today.
iii) Needless to say that the liability to pay the
interest will continue till the amounts are
deposited.
iv) In case the amounts are not deposited as above,
JUDGMENT
this Judgment shall stand automatically recalled and
the appeal shall stand dismissed.
.......................J.
[ KURIAN JOSEPH ]
.......................J.
[ ROHINTON FALI NARIMAN ]
New Delhi;
March 03, 2016.
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