The Karnataka Rural Infrastructure ... vs M/S Acc Limited
2024 Latest Caselaw 12569 Kant

Karnataka High Court

The Karnataka Rural Infrastructure ... vs M/S Acc Limited on 5 June, 2024

Author: K.Somashekar

Bench: K.Somashekar

                                                -1-
                                                          NC: 2024:KHC:19271-DB
                                                         COMAP No. 121 of 2021




                        IN THE HIGH COURT OF KARNATAKA AT BENGALURU

                              DATED THIS THE 5TH DAY OF JUNE, 2024

                                             PRESENT
                             THE HON'BLE MR JUSTICE K.SOMASHEKAR
                                                AND
                         THE HON'BLE DR. JUSTICE CHILLAKUR SUMALATHA
                              COMMERCIAL APPEAL NO. 121 OF 2021
                      BETWEEN:

                      THE KARNATAKA RURAL INFRASTRUCTURE
                      DEVELOPMENT LIMITED,
                      GRAMEENA ABHIVRUDDHI BHAVANA,
                      4TH AND 5TH FLOOR, ANAND RAO CIRCLE,
                      BENGALURU - 560 009.
                      REPRESENTED BY ITS MANAGING DIRECTOR
                                                                   ...APPELLANT
                      (BY SRI. PRASANNA KUMAR P.,ADVOCATE)

                      AND:

                      M/S. ACC LIMITED,
Digitally signed by   SALES UNIT OFFICE, THE SOCIETY 003A,
AASEEFA
PARVEEN               GROUND FLOOR, 121, DICKENSON ROAD,
Location: HIGH
COURT OF              BENGALURU - 560042,
KARNATAKA             REPRESENTED BY ITS MANAGING DIRECTOR
                                                                 ...RESPONDENT
                      (BY SRI. VIVEK B.N.,ADVOCATE FOR
                      SRI. ABHINAV.R., ADVOCATE)

                           THIS COMMERCIAL APPEAL IS FILED UNDER SECTION
                      13(1A) OF THE COMMERCIAL COURTS ACT, 2015 PRAYING TO
                      CALL FOR RECORDS IN COMMERCIAL O.S. NO. 10170/2015
                      BEFORE THE LXXXII ADDITIONAL CITY CIVIL AND SESSIONS
                      JUDGE, BENGALURU.
                               -2-
                                          NC: 2024:KHC:19271-DB
                                         COMAP No. 121 of 2021




     THIS   APPEAL,  COMING   ON  FOR      ORDERS,
THIS   DAY, DR. CHILLAKUR SUMALATHA, J., DELIVERED
THE FOLLOWING:


                          JUDGMENT

Sri.Prasanna Kumar.P learned counsel for the

appellant as well as Sri.Vivek.B.N who is representing

Sri.Abhinav.R, learned counsel for the respondent are

present.

2. Joint memo filed by the appellant and the

respondent is on record.

3. As per the contents of the said joint memo, the

respondent herein filed a suit for recovery of money and

the said suit was decreed directing the appellant to pay a

sum of Rs.1,61,38,710/- along with interest. Aggrieved by

the said judgment and decree, this appeal is preferred.

Thereafter, on intervention of the friends and relatives

both the parties have amicably settled the dispute. The

appellant as per the settlement paid a sum of

Rs.1,61,22,570/- after deducting TDS. The said amount

which was paid through account payee cheque was

NC: 2024:KHC:19271-DB

received by the respondent and the cheque was also

encashed. With the aforesaid contents, both the parties

seek the Court to close the proceedings. The contents of

the said memo are taken in to consideration and in light of

the settlement that is arrived between the parties, the

proceedings of the appeal are closed. The Court fee paid

by the appellant in this appeal be refunded to the

appellant.

Accordingly, the appeal is disposed of.

Sd/-

JUDGE

Sd/-

JUDGE

NS CT:TSM