N.K. Rajgarhia vs M/S. Mahavir Plantation Ltd. & Ors

The Supreme Court addressed the interpretation of a consent order regarding a financial settlement between parties, emphasizing the enforceability of terms related to dishonored cheques. The Court held that upon dishonor of any cheque, the entire remaining balance becomes payable immediately, allowing the decree holder to execute the decree for the total amount plus interest at 15% per annum. The Court clarified that extensions for payment should not be granted lightly and must consider the interests of justice, ultimately ruling in favor of the appellant's right to enforce the decree.