Pls clarify solution regarding terms of a compromise deed...
Amandeep Singh
(Querist) 09 April 2010
This query is : Resolved
A compromise undertaken between us and other party (having possession in the said prop.) in the distt. courts to sell the property and to pay some money to the other party out of the sale proceeds of the property.The is also a term state that other party will stay in the prop. in a husbandry manner till the sale of the prop.The amt to be paid is much lesser than the value of the prop. But at the time of entering into compromise we had no money to pay to the other party,but now we have arranged money mentioned in the compromise and ready to pay to the other party,but the other party is not ready to accept the same and pressurising only to sell the prop. and also issued a legal notice of 15 days to sell the prop.Now pls clarify is it necessary to sell the property even though when we have arranged the funds to pay and what further action to be initiated for paying him the amount.The time mentioned in the compromise has already elapsed.
Raj Kumar Makkad
(Expert) 10 April 2010
Your query had already been resolved by me telephonically 3/4 days ago. I am still firm on my reply/suggestion given to you.
Amandeep Singh
(Querist) 10 April 2010
Sir but at that time I had not received legal notice when I talked to u thanx otherwise sir
