[Cites 1, Cited by 0]
Bombay High Court
Mighty Instruments And Trading Llp vs National Realty Pvt Ltd on 25 March, 2026
Author: Milind N. Jadhav
Bench: Milind N. Jadhav
2026:BHC-OS:7246
1.COMS.85.2025.doc
Ajay
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
COMMERCIAL SUIT NO. 85 OF 2025
National Realty Pvt. Ltd. .. Plaintiff
Versus
Mighty Instrument & Trading LLP .. Defendant
WITH
INTERIM APPLICATION NO. 262 OF 2026
WITH
INTERIM APPLICATION NO. 7807 OF 2025
WITH
INTERIM APPLICATION NO. 6162 OF 2025
WITH
INTERIM APPLICATION NO. 6161 OF 2025
WITH
INTERIM APPLICATION NO. 4465 OF 2025
IN
COMMERCIAL SUIT NO. 85 OF 2025
....................
Mr. Kunal Dwarkadas a/w. Mr. Abinash Pradhan, Ms. Garima
Agrawal and Mr. Yash Dedhia, Advocates i/by Wadia Ghandy and
Co. for Plaintiff.
Mr. Karan Bhide and Ms. Nisha Bagal, Advocates i/by M/s. Dave &
Girish & Co. for Defendant.
....................
CORAM : MILIND N. JADHAV, J.
DATE : MARCH 25, 2026.
P.C.:
1. Heard Mr. Dwarkadas, learned Advocate for Plaintiff and Mr.
Bhide, learned Advocate for Defendant.
2. The disputes in the present Suit arise in connection with a
document titled as 'Term Sheet' dated 5th April 2025 ("said Term
Sheet") executed between the Plaintiff and Defendant relating to the
sale of the office Premises No. 32 admeasuring 3,275 square feet
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(built-up area) [2,790 square feet carpet area], on the 3 rd floor of the
building known as 'Sakhar Bhavan', standing on the piece and parcel of
land bearing Plot No. 203 of Block No. III of Backbay Reclamation,
Nariman Point, Mumbai 400021, along with related shares comprised
in Share Certificate No. 05 issued by Sakhar Bhavan Premises
Cooperative Society Limited ("said Society") and all other incidental
rights thereto ("said Premises") on terms and conditions mentioned
therein.
3. The proposed Sale Consideration as mentioned in the said
Term Sheet was Rs. 14,08,25,000/- (Rupees Fourteen Crores, Eight
Lacs and Twenty-Five Thousand only) ("Sale Consideration"). Upon
execution of the said Term Sheet, the Plaintiff made a token payment
of Rs. 51,00,000/- (Rupees Fifty-One Lacs only) to the Defendant.
4. The disputes between the parties led to the filing of the
captioned suit inter alia seeking specific performance of the said Term
Sheet. By mutual consent of the parties, the disputes between the
parties were referred to mediation before the Hon'ble Justice S. J.
Kathawalla (Retd.) vide order passed by this Court dated 4 th March,
2026.
5. With the assistance of the Ld. Mediator appointed pursuant
to this Court's Order dated 4th March, 2026 the parties have arrived at
Consent Terms dated 23rd March, 2026 resolving all their disputes and
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differences.
6. The Consent Terms dated 23rd March, 2026 are taken on
record and marked as 'X' for identification and Orders in terms thereof
are passed as under:-
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7. The statements/undertakings contained in the Consent
Terms are accepted as undertakings of the parties to the Court.
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8. In accordance with Clause 5 of the Consent Terms the
Defendant has agreed and undertaken to hand over to the Ld.
Mediator a Demand dated 24th March 2026 drawn on HDFC Bank,
Sion Branch ("said Demand Draft") drawn in favour of the Plaintiff, in
the sum of Rs. 1,75,00,000/- (Rupees One Crore and Seventy-Five Lacs
only) being refund of the Token Deposit of Rs. 51,00,000/- (Rupees
Fifty-One Lakhs Only) and balance being compensation of Rs.
1,24,00,000/- (Rupees One Crore Twenty-Four Lakhs Only)
("Settlement Amount") in full and final settlement of all the disputes
and claims that have arisen under the said Term Sheet.
9. In accordance with Clauses 6 and 7 of the Consent Terms it
is agreed that upon the Hon'ble Court taking the present Consent
Terms on record and passing an order in terms thereof and that upon
receipt of the Settlement Amount by the Plaintiff, the said Term Sheet
shall stand terminated and cancelled, and neither party shall have any
claim, right, title, or interest against the other party under the said
Term Sheet and the Plaintiff shall have no right, interest and or claim
whatsoever in respect of the said premises.
10. The Plaintiff has filed a Criminal Complaint dated 20 th
February 2026 with Marine Drive Police Station, Mumbai ("said
Criminal Complaint") against the Defendant and the other persons
named as accused therein and in respect thereof, as on date, no FIR is
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registered.
11. In accordance with Clauses 9 and 11 of the Consent Terms
upon receipt of the Settlement Amount, the Plaintiff undertakes to
unconditionally withdraw the said Criminal Complaint and address a
letter in the form annexed as draft letter to the Marine Drive Police
Station, Mumbai marked as Annexure 'A' to the Consent Terms for
withdrawal of the said Criminal Complaint. The Marine Drive Police
Station, Mumbai shall therefore allow the Plaintiff to unconditionally
withdraw the said Criminal Complaint and treat the said Criminal
Complaint as closed.
12. In accordance with Clause 10 of the Consent Terms, Plaintiff
further agrees and undertakes to extend full cooperation to ensure that
no further action/proceedings are continued or initiated in relation to
the said Criminal Complaint.
13. The captioned Suit as well as the Interim Applications taken
therein stand disposed of in terms of the Consent Terms.
14. The Registry is directed to provide certified copies of this
order to the parties expeditiously, and the parties are directed to act in
accordance with the provisions of the Consent Terms and the terms of
this Order.
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15. All Parties undertake to execute documents / letters etc. if
required to be submitted to statutory authorities / the Society, etc. for
effective implementation of the Consent Terms.
16. The Parties agree and declare to mutually attempt to resolve
any difficulties that may arise in relation to the terms of the Consent
Terms, failing which the Parties shall be at liberty to approach the
learned Mediator Mr. Justice S.J. Kathawalla (Retd.) for a resolution
thereof. The difficulty shall be decided by Justice S.J. Kathawalla
without being required to give any reasons and whose decision shall be
final and binding on the parties.
17. The Plaintiff shall be at liberty to apply for refund of Court
Fees to the extent permissible in terms of the applicable rules and the
Maharashtra Court Fees Act 1959, as amended from time to time.
18. No order as to costs.
19. All to act on a duly authenticated copy of this order.
[ MILIND N. JADHAV, J. ]
Ajay Digitally signed
by AJAY
TRAMBAK
AJAY UGALMUGALE
TRAMBAK
UGALMUGALE Date:
2026.03.25
19:02:59
+0530
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