M/S Csango & Ors vs Union Bank Of India

The Supreme Court disposed of the appeal in accordance with the amicable settlement reached between the parties, wherein the appellant agreed to pay Rs.3.10 crores to the respondent Bank in four installments. The Court emphasized that in case of default in payment, the entire decreetal amount would become payable as if no settlement existed. The terms of the settlement were accepted, and the parties were directed to adhere to the agreed payment schedule, with interest applicable from 10th July, 2009 if the full amount was not paid by the due date.