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of <h1>Consensual Settlement Resolves Negotiable Instruments Act Dispute with Phased Payment and Partial Immediate Release</h1> <h3>VINOD BOOB Versus DODBALLAUR SPINNING MILLS PVT. LTD. & ANR.</h3> SC disposed of SLP challenging HC order under Negotiable Instruments Act. Parties reached consensual settlement: 20% amount with interest released to ... Dishonour of Cheque - challenge to setting aside of conviction and sentence of the Respondents accused - Section 138 of the Negotiable Instruments Act, 1881 - HELD THAT:- This Court is of the view that the consensual terms are fair and reasonable. Accordingly, the Special Leave Petition is disposed of. The Supreme Court, through Manmohan, J., disposed of the Special Leave Petition challenging the High Court of Karnataka's order setting aside the conviction under Section 138 of the Negotiable Instruments Act, 1881. The parties agreed on a consensual order whereby: (i) 20% of the amount deposited by the Respondents with accrued interest shall be released to the Petitioner forthwith; (ii) Rs. 9.50 lakhs shall be paid by the Respondents to the Petitioner in six equated bimonthly installments via demand draft/RTGS; and (iii) these payments are 'without prejudice to the rights and contentions of the parties in the pending arbitration proceedings.' The Court held the terms 'fair and reasonable' and clarified that the order 'shall have no impact/effect on the arbitration proceedings.' The Special Leave Petition was disposed accordingly.
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