habib african ltd vs marco textiles ltd and others 2021 tzhccomd 3468 31 may 2021

habib african ltd vs marco textiles ltd and others 2021 tzhccomd 3468 31 may 2021

The court is satisfied that the parties have lawfully settled the entire suit by deed of settlement, which is duly executed and filed; therefore, the court records the settlement and marks the suit as settled out of court in accordance with Order XXIII Rule 3 of the Civil Procedure Code.

Citation
habib african ltd vs marco textiles ltd and others 2021 tzhccomd 3468 31 may 2021
Parties
Plaintiff: Habib African Bank Limited; 1st Defendant: Morco Textiles Limited; 2nd Defendant: Ahmed Jaffer Aladin; 3rd Defendant: Erfan Ahmed Aladin; 4th Defendant: Gulzar Ahmed Aladin
Court
TZHCCOMD
Jurisdiction
Tanzania
Judgment Date
31 May 2021
Procedural Posture
Commercial Case / Consent Judgment
Outcome
Suit settled out of court by consent judgment.
Legal Topics
Consent Judgment, Settlement, Credit Facility, Mortgage, Guarantee, Debenture
Source Language
English
Commercial Law Banking Law Consent Judgment Settlement Credit Facility Mortgage Guarantee Debenture

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Parties

Habib African Bank Limited

Plaintiff

Morco Textiles Limited

1st Defendant

Ahmed Jaffer Aladin

2nd Defendant

Erfan Ahmed Aladin

3rd Defendant

Gulzar Ahmed Aladin

4th Defendant

Procedural Posture

Commercial Case / Consent Judgment

Legal Issues

  1. 1 Whether the parties have lawfully settled the dispute by deed of settlement under Order XXIII Rule 3 of the Civil Procedure Code
  2. 2 Whether the court should record the settlement and mark the suit as settled

Ratio Decidendi

The court is satisfied that the parties have lawfully settled the entire suit by deed of settlement, which is duly executed and filed; therefore, the court records the settlement and marks the suit as settled out of court in accordance with Order XXIII Rule 3 of the Civil Procedure Code.

Court Disposition

Suit settled out of court by consent judgment.

Orders

  • Deed of settlement recorded and forms part of the consent decision and decree.
  • Suit marked settled out of court on agreed terms under Order XXIII Rule 3 of the Civil Procedure Code.