Content Provider | Supreme Court of India |
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e-ISSN | 30484839 |
Language | English |
Access Restriction | NDLI |
Subject Keyword | High Court to record a categorical finding settled with consent One Time Settlement (OTS) |
Content Type | Text |
Resource Type | Law Judgement |
Jurisdiction | India |
Case Type | Appeal |
Court | Supreme Court of India |
Disposal Nature | Appeal Allowed |
Headnote | Settlement – One Time Settlement (OTS) – Respondent defaulted in repaying the loan taken from appellant-Corporation – In terms of OTS policy, matter was referred to Chartered Accountant to determine the remaining outstanding balance amount payable by the respondent to the appellant-Corporation – Dispute arose even after the settlement as to the liability determined and worked out by the Chartered Accountant – Demand of Rs.49 lacs raised on the respondent – Respondent filed writ petition before the High Court, which was allowed on the ground that since the whole issue was settled with consent and no objection was raised by the appellant at any point of time, the issue cannot be allowed to be re-opened – On appeal, held: The parties only agreed to settle the dispute in terms of OTS policy of the appellant-Corporation and, therefore, one Chartered Accountant was appointed by the Court to go into the question and submit his report – The dispute which arose out of the terms of the settlement was new dispute and it had to be settled on its own merits in accordance with law – It was necessary for the High Court to record a categorical finding on the issue as to how and on what basis the respondent had complied with the terms of settlement and had thus discharged its entire liability – It was not done – Matter remitted to High Court for consideration afresh – Bank/Banking. |
Judge | Hon'ble Mr. Justice Abhay Manohar Sapre |
Neutral Citation | 2019 INSC 26 |
Petitioner | Punjab Financial Corporation |
Respondent | M/s Paulbro Leathers Pvt. Ltd. |
SCR | [2019] 1 S.C.R. 83 |
Judgement Date | 2019-01-07 |
Case Number | 118 |
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