hussein mabruu meena vs commercial bank of africa t limited 2021 tzhc 2437 4 march 2021

IN THE HIGH COURT OF TANZANIA (LAND DIVISION) AT DAR ES SALAAM- MEDIATION CENTRE LAND CASE NO. 117 OF 2019 HUSSEIN MABRUU MEENA................................................................ PLAINTIFF VERSUS COMMERCIAL BANK OF AFRICA (T) LIMITED (Now, NCBA BANK TANZANIA LTD).................................................DEFENDANT CONSENT SETTLEMENT ORDER The parties having consented to settle this case through mediation, now agree as follows: 1. That the Plaintiff and Defendant have agreed that the sum payable as compromised decretal amount shall be Tshs. 110,000,000/= (say Tanzania Shillings One Hundred and Ten Million only) (herein the settlement sum) which comprises of the principal debt and legal costs. 2. That the settlement sum stated under paragraph (1) herein shall be paid in one single instalment as full and final, and the same shall be paid on or by 31st March, 2021. Payment of the settlement sum hereof shall be credited unto Bank Account Number TZS126550059, Account Name Loan Receivable Suspense Account, held at the Defendant bank (Now, NCBA BANK TANZANIA LTD). 3. That in the event, the plaintiff fails to pay the settlement sum on or by the said 31st March 2021, the Defendant shall be entitled to claim and execute the full debt of Tshs 234, 255, 205.37 plus interest at the contractual rate of 23% and the interest shall continue to accrue on the outstanding balance from the date of default until the debt is paid to the Defendant in full. 1 4, That upon full payment of the settlement sum as per paragraph (1) & (2) herein, the Defendant shall cause to discharge the mortgage created on the Plaintiffs property with C.T No. 115723, situated on Plot No. 7, Block “18”, Kibada, Temeke, now Kigamboni, Municipality, Dar es Salaam and shall hand it over to the Plaintiff. 5. That upon signing this Consent Settlement Order, the same shall constitute a Court Decree binding on the parties and executable as such as well the Plaintiff shall be regarded as Judgment Debtor and the Defendant, as Decree Holder and they shall be referred as such, accordingly. HUSSEIN MABRUU MEENA NELSON MGONJA HEAD, CENTRAL OPERATIONS A . 4 ___________ , / JLft-------- COMMERCIAL BANK OF AFRICA (T) LTD 1 SigRatnRR> IZyJy / ww/ .......................... Signature (Plaintiff) SignatG<ej(Qifipclartt<))ns Address P.O.Box 60186 We3« MW UM1TED DAR ES SALAAM ■ D AftESfSAWKM Mob: 0784 278244 Mo^-O7'4S3-2'802’y! TANZANIA Date: 4/3/2021 Date: 4/3/2021 UBAIDI HAMIDU MSAFIRI KIBEBETL—------ ------- I j __________ ' ^7 f 1 ADVOCATE pSUtAD, FINANCE^StftATE(^\ U \ \ COMMERcWfflk'OF AFRICA H) LTD Sigrfa$!0e(Plaintiff's Advocate) Address P.O.BOX 72382 \§®.'B®T2U2§8 DAR ES SALAAM DAR ES SALAAM. Mob: 0755317060/0718743310 Mob: 0745328022 Date: 4/3/2021 Date:4/3/2021 2 IRENE R. MCHAU ADVOCATE ............. Signature (Defendants Advocate) P. O. Box 12260 DAR ES SALAAM Mob: 0745328022 Date: 4/3/2021 Given under my Hand and the Seal of the Court this 04th day of March, 2021 J. S. MGETTA JUDGE/MEDIATOR 3