(1) The parties shall, if they
desire to compromise a case pursuant to Section 117, submit to the
court a joint petition, bearing signature or thumb impression of both
the parties, setting out the terms of compromise intended to be made
within the limits of the plaintiff's claim.
(2) If a petition containing the terms of compromise is
submitted to the court pursuant to sub-section (1), the court shall
read out the petition to the parties and ask the parties making such
petition whether they intend to enter into compromise with free will
and consent or not.
(3) If, in response to a question asked pursuant to subsection
(2), the parties reply that they are willing to compromise with
free will and consent, the judge trying the case shall prepare a deed
of compromise subject to the terms contained in the joint petition,
and take signature or thumb impression of the parties and affix his or
her signature on the deed.
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(4) Except in cases where any one has been authorized by a
power of attorney to enter into compromise pursuant to this Chapter,
while entering into compromise through an attorney, a separate deed
of consent executed by the party to that effect shall be submitted.