Smt. H.B. Usha Vs. D.S. Ramachandra [1994] INSC 664 (12 December 1994)

RAMASWAMY, K.

RAMASWAMY, K.

VENKATACHALA N. (J)

CITATION: 1995 SCC Supl. (2) 49 JT 1995 (2) 89 1994 SCALE (5)342

ACT:

HEADNOTE:

1.     Leave granted.

2.     We 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 today.

3.     The 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all the courts against each other or of each other's people and all the proceedings both civil and criminal shall stand withdrawn to this Court and disposed of.

4.     All 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 today.

(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.

5.     The appeal is accordingly disposed of No costs.

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