JUDGMENT Mutum B.K. SINGH, J. 1. The Appellants are aggrieved by the judgment and Decree dated 10-6-2008 passed by the learned Addl. District Magistrate (Judicial) Aizawl District, Aizawl in RFA No. 10/2006. 2. Heard Mr. A.R. Malhotra, Advocate for or on behalf of Mr. M.M. Ali, the learned conducting counsel appearing for the Appellants and also Mr. M. Guite, the learned Counsel appearing for the Respondent. 3. Facts leading to this appeal are that on the basis of a loan application applied by the Appellant No. 1 to the Respondent for construction of a Hotel under the name and style "Elite Hotel" at Serchhip, Mizoram, the Respondent sanctioned an Industrial loan (term loan) amounting to Rs.13,50,000/-in November, 1986. Out of the said sanctioned amount, the Respondent released a total sum of Rs.5,95,000/-on two occasions. The Appellants, before releasing the said amount, executed a loan agreement, guarantee agreement and deed of mortgage of some landed properties by depositing original Land Settlement Certificates. Thereafter, the Respondent failed to release the remaining sanctioned amount without any reason or justification in spite of repeated requests made by the Appellants. Hence, the Appellants herein as Plaintiffs instituted a suit being Civil Suit No. 5 of 2001 before the Court of learned Assistant to the Deputy Commissioner, Aizawl for payment of compensation of Rs.3,55,000/-with interest @ 12% per annum w.e.f. 6-7-1987, for cancellation of all agreements executed by the Plaintiffs/Appellants with the Defendant, coupled with a prayer for allowing to redeem the mortgaged properties covered by LSC No. SCHP-17/1987, LSC No. SCHP-57/1986, LSC No. W-55/1986 with LSC standing in the name of the Plaintiff No. 1. The Defendant/Respondent contested the suit by filing written statement but no counter claim has been made. The learned trial Court decreed the suit vide judgment and Decree dated 12-4-06, canceling all agreements including the deed of mortgaged executed by the Plaintiffs/Appellants with the Defendant/Respondent and directing the Defendant/Respondent to return the landed properties covered by the aforesaid LSCs. The learned trial Court further directed the Defendant/Respondent to pay a sum of Rs.1 lakh as damage and compensation with interest @ 6% per annum w.e.f. 20-10-01. 4. The Defendant/Respondent, being aggrieved by the judgment and Decree passed by the learned trial Court filed an appeal being RFA No. 10/2006 before the Court of Addl. District Magistrate (Judicial) Aizawl District, Aizawl. 4. The Defendant/Respondent, being aggrieved by the judgment and Decree passed by the learned trial Court filed an appeal being RFA No. 10/2006 before the Court of Addl. District Magistrate (Judicial) Aizawl District, Aizawl. The learned First Appellate Court, while upholding the payment of compensation of Rs.1 lakh to the Plaintiffs/Appellants further ordered and decreed allowing the Plaintiff/Appellant No. 1 to redeem the mortgaged properties covered by LSC No. SHCP-17 of 1987, LSC No. SCHP-57 of 1987 and LSC No. 55 of 1986, on payment of the principal amount of loan money Rs.5,95,000/-with 6% interest per annum thereon from 6-7-1987 to the Appellant corporation vide judgment and Decree dated 10-6-2008. 5. The present appeal arises out of the said judgment and Decree dated 10-6-08 passed by the First Appellate Court in RFA No. 10/06. 6. During the course of hearing, the learned Counsel appearing for the parties, upon instruction by the parties, submit that the parties have amicably settled the dispute involved in this appeal outside the Court and thus, pray for passing a judgment and Decree on the following terms and conditions that: (1) The Plaintiffs/Appellants shall pay a sum of Rs.5 lakh (Rupees Five lakh) to the Respondent Corporation within a period of 6 (six) months from the date of passing the judgment and Decree i.e. 24th February, 2011 and in case of failure to pay the said amount within the aforesaid stipulated period, the Plaintiffs/Appellants shall pay interest on the aforesaid amount or any part thereof in terms of the judgment and Decree passed by the First Appellate Court. It is made clear that in case of failure on the part of the Plaintiffs/Appellants to pay the said amount of Rs.5 lakh or any part thereof within the stipulated period, the unpaid amount shall bear an interest @ 6% per annum w.e.f. 6-7-87, till the entire amount is paid. (2) The Respondent Corporation, on receipt of the said amount of Rs.5 lakh from the Plaintiffs/Appellants, shall allow the Plaintiff/Appellant No. 1 to redeem the mortgaged properties and shall also return the original Land Settlement Certificates to the Plaintiffs/Appellants. (3) The Plaintiffs/Appellants have agreed to abandon the compensation amount decreed by the Courts below. In other words, the Plaintiffs/Appellants shall not claim any compensation amount from the Respondent Corporation in terms of the judgment and Decree passed by the Courts below. 7. (3) The Plaintiffs/Appellants have agreed to abandon the compensation amount decreed by the Courts below. In other words, the Plaintiffs/Appellants shall not claim any compensation amount from the Respondent Corporation in terms of the judgment and Decree passed by the Courts below. 7. Upon hearing the submissions of the learned Counsel appearing for the parties, I am of the considered view that the terms of settlement entered upon by the parties are not against the law and accordingly, the aforesaid terms and conditions of settlement are accepted. 8. Since the parties have lawfully settled the dispute involved in this appeal, this appeal is decreed in terms of the above settlement. Registry is directed to prepare a decree accordingly. LCRs be transmitted back forthwith.