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NON-REPORTABLE

IN THE SUPREME COURT OF INDIA                     CIVIL ORIGINAL JURISDICTION

CIVIL APPEAL NO.8223 OF 2015           (Arising out of SLP(C)No.18862 of 2013)

    INDIAN BANK               ...       APPELLANT(S)                  VS.

    BASHEER M. PICHA & ANR.        ...      RESPONDENT(S)

     J U D G M E N T

ANIL R DAVE, J.

1. Leave granted.

2. Heard the learned counsel.

3. We have considered the peculiar facts and chequered  

history of the case.  We have also noted the fact that the  

respondent-borrowers and guarantors did not make payment to  

the appellant-Bank, though, admittedly the amount was due  

and payable.

4. We have gone through the papers and the order passed  

in OP(DRT)No.3160/2011 by the High Court, wherefrom we find  

that the respondents were ready and willing to settle the  

matter by making a further payment of Rs.2 crores (Rupees  

Two Crores only) in addition to whatever amount had been  

paid/deposited by the guarantors and the borrowers and the  

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said  offer  was  almost  accepted  in  principle  by  the  

appellant Bank.

5. The said offer was given by the respondent-guarantors  

on 1st February, 2013 and much time has passed thereafter.  

In the circumstances, looking at the facts of the case, so  

as to bring an end to the litigation, we direct that a  

further sum of Rs.2.5 crores (Rupees Two and a Half Crores  

only) shall be paid by the respondents-guarantors and 50%  

of the said amount shall be paid before 31st December, 2015  

and the remaining amount shall be paid before 31st March,  

2016.  If the said amount is paid, the impugned order shall  

stand modified to the above extent.  If the afore-stated  

amount is not paid, it would be open to the appellant-bank  

to recover the said amount in accordance with law.

6. The impugned judgment is modified in terms of the  

above order and the civil appeal is disposed of as allowed  

to the above extent with no order as to costs.

       ..............J.

[ANIL R. DAVE]

.................J. [ADARSH KUMAR GOEL]

New Delhi; 18th September, 2015.

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