Reliance Industries Limited vs Siddikbhai Safibhai Gandhi
2023 Latest Caselaw 877 Guj

      C/FA/352/2012                                   ORDER DATED: 03/02/2023




            IN THE HIGH COURT OF GUJARAT AT AHMEDABAD

                       R/FIRST APPEAL NO. 352 of 2012
                                    With
                      R/CROSS OBJECTION NO. 65 of 2012
                                      In
                         FIRST APPEAL NO. 352 of 2012
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                      RELIANCE INDUSTRIES LIMITED
                                  Versus
                  SIDDIKBHAI SAFIBHAI GANDHI & 1 other(s)
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Appearance:
MR NIRAV C THAKKAR(2206) for the Appellant(s) No. 1
MR P P MAJMUDAR(5284) for the Defendant(s) No. 1
MR SHEGUN CHOKSHI, ADVOCATE for MR SP MAJMUDAR(3456) for the Defendant No.1
RULE SERVED for the Defendant(s) No. 2
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 CORAM:HONOURABLE MR. JUSTICE A.J.DESAI
       and
       HONOURABLE MR. JUSTICE RAJENDRA M. SAREEN

                                Date : 03/02/2023

                                 ORAL ORDER

(PER : HONOURABLE MR. JUSTICE A.J.DESAI)

1. By way of present First Appeal filed under Section 396 of the Code of Civil Procedure, 1908 arising from the judgment and decree dated 30.09.2011 passed by learned 7th Additional Senior Civil Judge, Bharuch in Special Civil Suit No. 51 of 2007, by which, the suit filed by present respondent No.1 - original plaintiff came to be partly allowed. By the aforesaid judgment and decree, it was declared that the original plaintiff would be entitled to recover the amount of Rs.27,44,020/- (Rupees Twenty Seven Lacs Forty Four Thousand and Twenty Only) from present appellant - original defendant at the rate of 9% interest from the date of filing the suit till its realization.

C/FA/352/2012 ORDER DATED: 03/02/2023

2. The appeal came to be admitted by oral order dated 29.03.2012.

The original plaintiff has also filed the Cross - Objections for remaining amount in the dispute.

3. Today, when the matter is called out for final hearing, a settlement pursis signed by both the parties has been placed by both the parties and the same has been brought on record.

4. Learned advocates for the respective parties state that the matter is amicably settled and both the parties do not further proceed with either the appeal or cross objection.

5. Settlement pursis signed by both the parties reads as under:

"The parties to the captioned appeal and cross objection hereby submit settlement pursis as under:

1. It is respectfully stated and submitted that the captioned First Appeal had been preferred by the Appellant challenging the order dated 30.09.2011 passed by the Hon'ble Civil Court, Bharuch. It is further submitted that the respondent in the captioned First Appeal had been preferred the cross objection.

2. It is respectfully stated and submitted that this Ho'ble Court vide order dated 30.04.2012, had directed the Appellant to deposit entire decretal amount with interest before Hon'ble Civil Court, Bharuch. Accordingly, the Appellant has deposited Rs.39,70,033.60. Further, this Hon'ble Court had permitted the Respondent to withdraw 50% i.e. (Rs.19,85,016/-) of the said amount by providing immovable security and the remaining 50% (Rs.19,85,017/-) was to be invested in cumulative interest scheme in any Nationalized Bank for a period of 5 years to be renewed from time to time till final disposal of the present appeal.

3. It is respectfully submitted that the parties have amicably settled the matter out of the Court whereby the parties have agreed that the respondent herein shall withdraw the balance 50% decretal amount deposited into Nationalized Bank i.e. Rs.19,85,017/- as per the order dated 30.04.2012 and further both the parties being appellant and respondent shall share

C/FA/352/2012 ORDER DATED: 03/02/2023

the accrued interest on the balance amount of Rs.22,47,500/- lying in the bank equally, in full and final settlement of all dues and payables

4. The parties, therefore, jointly pray this Hon'ble Court to take the present settlement pursis on record and dispose of the captioned First Appeal No. 352 of 2012 as well as the Cross- Objection No. 65 of 2012 in the aforesaid terms, in interest of justice and equity."

6. In view of above settlement, nothing remain in the captioned First Appeal as well as Cross-Objections. Accordingly, the same are dismissed as disposed of.

(A.J.DESAI, J)

(RAJENDRA M. SAREEN,J) F.S.KAZI