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Issues: Whether the respondents were bound to release the agreed sum towards full and final settlement of the petitioner's claims and, on default, whether interest would accrue.
Analysis: The respondents, through counsel, stated on instructions that they had decided to put an end to the matter and would release Rs. 7.50 lakh within two weeks. The payment was directed to be treated as full and final settlement of all claims arising from the petition, with no further obligation on the respondents thereafter. The statement was accepted as an undertaking to the Court, and it was further directed that if the amount was not paid within the stipulated period, the sum would carry interest at 6% per annum from the date it became due and payable until actual payment.
Conclusion: The petitioner's claim was allowed to the extent of the agreed payment, and the respondents were bound by the undertaking to pay the settled amount within two weeks, failing which interest would accrue.
Final Conclusion: The writ petition was disposed of by enforcing the agreed settlement and securing the petitioner's entitlement to the specified payment with consequences for default.
Ratio Decidendi: An undertaking recorded by the Court to pay a quantified settlement amount is enforceable, and default may attract interest from the date the amount became due.
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