Esquire (Garments) Industries Limited. v. Bank of India – sllr 1993 volume 1 page 130

In the case between Esquire (Garments) Industries Limited (plaintiff) and Bank of India (defendant), the court addressed whether a settlement agreement staying execution of a decree pending appeal, contingent on the defendant furnishing a bank guarantee, could be unilaterally withdrawn by the defendant-appellant, and the correct interpretation of sections 23 of the Judicature Act and 763(1) and (2) of the Civil Procedure Code in execution proceedings during appeal. The findings established that the agreement, once entered voluntarily, was final and binding, and any attempt by the defendant to retract or modify the terms after failing to provide the agreed security constituted a waiver of statutory protections under s.763(1) of the Civil Procedure Code. This decision affirmed that settlemen