Karnataka High Court
M/S. Mantri Developers Pvt. Ltd vs M/S. Varasiddivinayaka Detective And ... on 12 November, 2024
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NC: 2024:KHC:45674-DB
COMAP No. 484 of 2023
IN THE HIGH COURT OF KARNATAKA AT BENGALURU
DATED THIS THE 12TH DAY OF NOVEMBER, 2024
PRESENT
THE HON'BLE MR JUSTICE V KAMESWAR RAO
AND
THE HON'BLE MR JUSTICE S RACHAIAH
COMMERCIAL APPEAL NO. 484 OF 2023
BETWEEN:
M/S. MANTRI DEVELOPERS PVT. LTD.,
A COMPANY INCORPORATED UNDER
THE PROVISIONS OF THE COMPANIES ACT, 1956
HAVING ITS REGISTERED OFFICE AT:
C-5, RICH HOMES, NO.5/1,
RICHMOND ROAD, BANGALORE - 560 025.
REPRESENTED BY ITS AUTHORIZED SIGNATORY,
MR. B. S. RAVISHANKAR.
...APPELLANT
(BY SMT. JAITHRA J. NARAYAN, ADVOCATE)
AND:
Digitally signed
by
SREEDHARAN 1. M/S. VARASIDDIVINAYAKA DETECTIVE AND
BANGALORE
SUSHMA SECURITY SERVICES PVT. LTD.,
LAKSHMI
Location: HIGH A COMPANY INCORPORATED UNDER THE
COURT OF
KARNATAKA PROVISIONS OF THE COMPANIES ACT, 1956,
HAVING ITS ADDRESS AT:
NO. 177, 1ST MAIN ROAD, R.K. LAYOUT, 2ND STAGE,
PADMANABHANAGAR, BANGALORE - 560 070.
REPRESENTED BY ITS MANAGING DIRECTOR,
MR. SHIVANNA. M.
2. MR. SUSHIL MANTRI
S/O. PANDURANG MANTRI,
AGED ABOUT 60 YEARS,
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COMAP No. 484 of 2023
CHAIRMAN AND MANAGING DIRECTOR,
M/S. MANTRI DEVELOPERS PVT. LTD.,
NO.41, VITTAL MALLYA ROAD,
BANGALORE - 560 001.
3. MRS. SNEHAL MANTRI
W/O. MR. SUSHIL MANTRI,
AGED ABOUT 58 YEARS,
HAVING ADDRESS AT:
NO.41, VITTAL MALLYA ROAD,
BANGALORE - 560 001.
4. MR. PRATHIK MANTRI
S/O. MR. SUSHIL MANTRI,
AGED ABOUT 35 YEARS,
HAVING ADDRESS AT:
NO.41, VITTAL MALLYA ROAD,
BANGALORE - 560 001.
...RESPONDENTS
(BY SRI. SANDEEP M K A/W SRI. ROOPESHA B,
ADVOCATES FOR C/R1;
NOTICE TO R2-R4 ARE D/W V/O DATED 13/03/24)
THIS COMAP FILED UNDER SECTION 13(1-A) OF THE
COMMERCIAL COURTS ACT 2015 R/W ORDER XLI RULE 1 OF
THE CPC PRAYING TO ALLOW THE APPEAL AND SET ASIDE THE
JUDGMENT AND DECREE DATED 17.08.2023, PASSED BY THE
LXXXVIII ADDL. CITY CIVIL AND SESSIONS JUDGE
(COMMERCIAL COURT) AT BANGALORE, IN
COM.O.S.NO.605/2022, PRODUCED AS ANNEXURE-A & B
RESPECTIVELY, AND DISMISS THE SAID SUIT OF THE
RESPONDENT NO.1.
THIS APPEAL, COMING ON FOR ORDERS, THIS DAY,
JUDGMENT WAS DELIVERED THEREIN AS UNDER:
CORAM: HON'BLE MR JUSTICE V KAMESWAR RAO
and
HON'BLE MR JUSTICE S RACHAIAH
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COMAP No. 484 of 2023
ORAL JUDGMENT
(PER: HON'BLE MR JUSTICE V KAMESWAR RAO)
On the last date of hearing i.e., on 29.10.2024, this Court
had passed the following order:
"This is a memo filed by the appellant and
respondent No.1 under Order 23 Rule 3 read with Section
151 of CPC. It is stated by the counsel for the appellant
that an amount of Rs.17,99,525/- has been deposited by
the appellant in this Court in terms of order dated
13.03.2024.
Registry shall give its report on the amount said to
have been deposited in terms of order dated 13.03.2024
on the next date of hearing.
Mr. Ravi Shankar, Consultant for the appellant
Company and Mr.Shivanna, Managing Director for
respondent No.1 are present and they shall be present
before the Court on the next date of hearing.
List on 12.11.2024."
2. In terms of the last order, registry has given its
report. The same reads as under:
"As verified on amount of Rs.17,99,525/- has been
deposited before this Court. Details of deposit: ID
No.3136/23-24, R.O.No. and date: 804/27.03.2024,
amount-Rs.17,99,525/-The above said amount has been
invested in FD at Canara Bank, Government, Business
Branch, Bengaluru. With this information file returned to
pending branch."
3. The memorandum of compromise petition filed by
the appellant and respondent No.1, the contesting party
paragraph No.s 2 to 8 reads as under:
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2. In view of Judgment and decree the appellant is
entitled to pay as follows:
a. As per Judgment and decree a
sum of Rs.55,37,650/-
b. 10% interest per annum form
the date of filing the suit till
realization i.e., from 19/04/2022
to 19/09/2024 (2 years 4 months)
an amount of Rs. 12,92,118/-
c. Notice Charge Rs.20,000/-
d. Cost of the Suit Rs. 2,72,300/-
------------------
Totally Rs. 71,22,068/-
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3. In view mutual discussion between the parties, the
parties to the above appeal have agreed to settle the appeal
in amicable manner stated here under.
4. The appellant has agreed to pay a sum of
Rs.58,09,650/- (Rupees Fifty-Eight Lakhs Nine
Thousand Six Hundred and Fifty Only) to the respondent
No.1/plaintiff as full and final settlement as stated below.
a. Wherein the appellant has deposited the
sum of Rs. 17,99,525/- (Rupees Seventeen
Lakh ninety-nine thousand five hundred
ninety-nine thousand five hundred twenty-five
only) vide demand draft bearing No. 615535
dated 12.03.2024 before this Hon'ble court
and the appellant has no objection to transfer
the said amount in favour of plaintiff/1st
respondent herein.
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b. A sum of Rs.20,05,063/- has been paid by
appellant in favour of 1st respondent by way
of RTGS on 30/08/2024.
c. A sum of Rs.20,05,063/- will be paid by
way of RTGS on or before 30/09/2024 by the
appellant in favour of 1st respondent.
5. The respondent No.1 has filed an Execution Petition for
executing Judgment and Decree dated:17/08/2023 in Ex 670
of 2023 before the Hon'ble the LXXXVIII Addl.City Civil and
Sessions Judge (CCH-89), Commercial Court, Bengaluru, after
the final payment the respondent No.1 herein undertakes that
he will withdraw the same as not pressed.
6. In view of the aforesaid compromise the parties have
settled the matter amicably and the appellant and respondent
No.1 herein prays this Hon'ble court to dispose off the above
appeal in terms of the compromise, further the 1st respondent
has no claim or what so ever against the appellant in respect
of COM.O.S.No.605/2022.
7. The appellant has no objection to release the amount
deposited before this Hon'ble court in favour of 1st respondent.
8. The 1st respondent hereby confirms that he has received
entire amount as full and final settlement as agreed between
parties as per the compromise."
Wherefore, the parties pray that this Hon'ble court be
pleased to dispose of the appeal in terms of the compromise
entered into between the parties in the ends of justice and
equity.
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4. The representative of the appellant -
Mr. B.S.Ravishankar and of the respondent No.1-Mr.Shivanna
are present. They acknowledge the filing of the compromise
petition.
5. The learned counsel for the appellant submits that
the amounts mentioned in paragraphs 4(b) and (c) have
already been paid to respondent No.1. Insofar as clause-4(a) is
concerned, the learned counsel for the appellant and
respondent No.1 state that the amount of Rs.17,99,525/- as
deposited in this Court be directed tobe released in favour of
respondent No.1 by the registry.
6. It is also agreed by the counsel for the appellant
and respondent No.1, the interest if any accrued on the amount
of Rs.17,99,525/- shall be paid to the appellant. If that be so,
we take the submissions made by the counsel and the
representative of the appellant as well as of the respondent
No.1 that they shall abide by the terms of the settlement.
7. Registry shall release the amount of Rs.17,99,525/-
as deposited in the Court to the representative of the
respondent No.1 upon identification by the counsel in the
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presence of the counsel. The interest (if any) on the amount of
Rs.17,99,525/- shall be released to the appellant through its
representative in the presence of the counsel.
8. At this stage, learned counsel for the appellant
makes a request for refund of Court fee. The registry shall
consider the request in accordance with law. The appeal is
disposed of.
9. In view of the disposal of the appeal, I.A.Nos. 1 and
2 of 2023 do not survive for consideration. Accordingly, the
same are disposed of.
Sd/-
(V KAMESWAR RAO)
JUDGE
Sd/-
(S RACHAIAH)
JUDGE
JS,
