Smt. H.B. Usha Vs. D.S. Ramachandra
 INSC 664 (12 December 1994)
VENKATACHALA N. (J)
CITATION: 1995 SCC Supl. (2) 49 JT 1995 (2)
89 1994 SCALE (5)342
are happy to note that at the suggestion of this Court, the parties have
settled the disputes amicably.
Therefore having regard to the terms of such
settlement placed before us, the following order is made;
The appellant-Smt. H.b. usha shall pay to the
respondent -D.S. Ramachandra a total sum of Rs. 3, 25,00,000/- for his giving
up half share in the partnership firm- M/s. Ajax Petro in her favour as under;
(1) A sum of Rs.75,00,000/- which is lying in
the Star Deposit account in State Bank of India, City Branch, Bangalore, in the
name of Stone Bonds (P) Ltd. should be released to the respondent, with
interest accrued thereon, by crediting the same to the account of the
respondent in Canara Bank, South End Road Branch, Bangalore, within a period of
seven days from today; or the appellant shall give necessary direction to the
S.B.I., City Branch, Bangalore, to withdraw the deposit made in Stone Bonds (P)
Ltd. in the name of the respondent and deposit the same in the account of the
respondent in Canara Bank, South End Road Branch, Bangalore, the account number
to be given by the respondent.
(2) The appellant shall deposit in the said
account of respondent a sum of Rs.50,00,000/- within a period of sixty days
balance of Rs.2,00,00,000/- 90 (rupees two crores) shall also be deposited by
the appellant in the said account of respondent within a period of four months
thereafter or within six months from today.
3. In the event of any default in the deposit
of the said amounts to the account of respondent, namely, Rs.50,00,000/-
(rupees fifty lakhs) and two crores within the aforestated respective periods,
from the date of the default till the date of deposit, the appellant shall pay
interest @ 21% per annum on the defaulted amount to the respondent.
(4) As requested by the appellant and the
respondent, all the pending suits in all the courts against each other or of
each other's people and all the proceedings both civil and criminal shall stand
withdrawn to this Court and disposed of.
suits of either party or others connected with the dispute are disposed of in
terms of this order.
(5) All the criminal proceedings pending
against each other or against each other's employees or others, whosoever have
initiated them, shall also stand withdrawn to this Court and disposed of The
list of which is given below:
(a) O.S.No.5550/93 on the file of the City
Civil Judge, Court Hall 13, Court Complex, Bangalore.
(b) O.S.No. 10753/93 on the file of 7th
Addl.City Civil Judge at Bangalore.
(c) F.I.R. 388/93 of Jayanagar Police Station
filed by Mr. D.S. Ramachandra to be closed.
(d) H.B. Usha's case against D.S. Ramachandra
and B.S. Nagaraj in High Ground Police Station on September 1993 to be closed.
(e) Suit No. 1 18/93 in the Munsif's Court,
Berhampur filed by H.B. Usha.
(f) Case of theft against Mr.S.C.Bisogi,
Manager, Ajay Petro, filed by Mr.Shesadri, Power of Attorney Holder of Mr.D.S.
Ramachandra in Town Police Station, Berhampur.
(g) Police case filed by Mr.Bistu Mohan
against M/s Lathi and S.C. Bisogi.
(6) The respondent shall, as is undertaken by
him, handover all the lease deeds and other documents pertaining to partnership
business in his possession to the appellant within a period of one week from
(7) In the event of the default being
continued beyond the period of six months, the respondent-D.S. Ramachandra
would be at liberty to approach this Court seeking appropriate directions for
reversal of the orders passed today. The leases granted in the name of firm M/s
Ajax Petro will continue in the same name but, as a proprietory concern of the
appellant-H.B. Usha and M/s Ajax Petro shall be regarded as her proprietory
concern with full proprietory rights in its assets.
appeal is accordingly disposed of No costs.