[Cites 1, Cited by 0]
Karnataka High Court
Industrial Investment Bank Of India vs The West Cost Paper Mills Ltd on 8 January, 2026
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NC: 2026:KHC-D:167
RFA No. 100199 of 2014
HC-KAR
IN THE HIGH COURT OF KARNATAKA,AT DHARWAD
DATED THIS THE 8TH DAY OF JANUARY, 2026
BEFORE
THE HON'BLE DR. JUSTICE K.MANMADHA RAO
REGULAR FIRST APPEAL NO.100199 OF 2014 (MON)
BETWEEN:
1. INDUSTRIAL INVESTMENT BANK OF INDIA,
REP. BY ITS CHIEF GENERAL MANAGER,
NO.19, NETAJI SUBHAS CHANDRA ROAD, KOLKATTA,
REP. BY LIQUIDATOR OF INDUSTRIAL INVESTMENT,
BANK OF INDIA LTD.,
SHRI RAM NARAYANA DHAR,
S/O BISWESWAR DHAR,
AGE: 60 YEARS, R/O. KOLKATTA.
2. INDUSTRIAL INVESTMENT BANK OF INDIA,
REP. BY ITS MANAGER,
NO.603, 6TH FLOOR, MANIPAL CENTER,
4 DECKENSON ROAD, BENGALURU.
REP. BY LIQUIDATOR OF INDUSTRIAL INVESTMENT,
BANK OF INDIA, SHRI RAM NARAYANA DHAR,
S/O BISWESWAR DHAR, AGE: 60 YEARS,
R/O. KOLKATTA.
...APPELLANTS
(BY SRI. S.V. YAJI, ADVOCATE)
MOHANKUMAR
B SHELAR
Digitally signed by
AND:
MOHANKUMAR B
SHELAR
Location: High Court of
Karnataka, Dharwad Bench
Date: 2026.01.09 10:14:47
+0530
THE WEST COST PAPER MILLS LTD.,
A COMPANY REGISTERED
UNDER COMPANY'S ACT 1913,
REP. BY EXECUTIVE DIRECTOR
AND POWER OF ATTORNEY HOLDER,
SHRI K.L. CHANDAK,
AGE: 65 YEARS,
AT REGISTERED OFFICE BANGUR NAGAR, DHANDELI,
TQ: HALIYALA, DIST: KARWAR.
...RESPONDENT
(BY SRI. JAGADISH PATIL, ADVOCATE)
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RFA No. 100199 of 2014
HC-KAR
THIS RFA IS FILED UNDER SECTION 96 AND ORDER XLI RULE 1
OF CODE OF CIVIL PROCEDURE, PRAYING TO SET ASIDE THE
JUDGMENT AND DECREE PASSED BY THE SENIOR CIVIL JUDGE
YELLAPUR SITTING AT HALIYALA IN OS NO.182/2006 DATED
18.04.2012 BY ALLOWING THE APPEAL CONSEQUENTLY DISMISS THE
SUIT OF THE RESPONDENT/PLAINTIFF FILED AGAINST THE APPELLANT
WITH COST. SUCH OTHER RELIEF AS THE HON'BLE COURT DEEMS FIT
IN THE INTEREST OF JUSTICE AND EQUITY.
THIS RFA COMING ON FOR HEARING ON INTERLOCUTORY
APPLICATION, THIS DAY, JUDGMENT WAS
DELIVERED THEREIN AS UNDER:
CORAM: THE HON'BLE DR. JUSTICE K.MANMADHA RAO
ORAL JUDGMENT
1. Learned counsel for the appellants present. The
respondent is present along with his counsel.
2. Learned counsels for the parties jointly submit that the
dispute between the parties has been amicably settled. In view of the
same, they have filed a joint compromise petition under Order XXIII
Rule 3 of the Code of Civil Procedure. The terms of joint compromise
petition reads as under:
1) The Appellants herein have challenged the
judgment and decree passed by the Senior Civil
Judge Yellapur sitting at Haliyal in OS No. 182/2006
dated 18/04/2012 decreeing the suit of the
Respondent/Plaintiff.
2) It is submitted that the Appellant Industrial
Investment Bank was liquidated and the liquidator
was appointed. The liquidator has filed the present
appeal representing the bank.
3) It is submitted that the Appellants and Respondent
have amicably resolved the dispute out of the Court
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HC-KAR
and after detail negotiation. The offer of the bank
for the settlement agreeing to pay in all Rs.
11,00,000/- (Eleven Lacks) only towards the suit
claim as the full and final satisfaction of the decree
passed in OS No. 182/2006 decreed by the Senior
Civil Judge Yellapur sitting at Haliyal. In view of the
settlement and satisfaction of the decree the
Respondent/Plaintiff shall not file any execution
petition in future. If any execution petition is filed,
the Respondent/Plaintiff has agreed to withdraw the
same as the decree is fully satisfied by virtue of the
settlement.
4) It is further submitted that the Respondent West
Coast Paper Mills Ltd. has agreed to accept Rs.
11,00,000/- offered by the Appellant Bank in full
and final settlement and satisfaction of the decree
referred above. In terms of the settlement it is
agreed to file the joint compromise petition.
5) In pursuance of the settlement the Appellant Bank
has agreed to issue the cheque drawn on West
Coast Paper Mills Ltd. of Punjab National Bank
Kolkata West Bengal dated 29/12/2025 420561
having the Account No. 0589050001084 towards
the full for a sum of Rs. 11,00,000/- (Eleven Lacks)
only at Cheque No. accepted the cheque referred
above towards the full and final and final settlement
of the decree. The Respondent/Plaintiff has
settlement of the decree and claim. The
Respondent has no whatsoever claim against the
Appellant. This joint compromise petition being the
acknowledgement or receipt for having received the
cheque. In terms of the settlement the decree is to
be recorded as fully satisfied.
6) Since, the suit and the appeal being settled out of
the court, the Appellant Bank which is a public
sector under taking which is under liquidation has
suffered huge loss.
7) Hence, the Appellant Bank prays that the Court fee
paid by the Appellant Bank may kindly be order to
be refunded in full to the Appellant Bank. The
Respondent has no objections for the refund of
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Court fee to the Appellant Bank. The Appellant
Bank will provide the particulars of the bank
account for the refund of the Court fee.
8) It is agreed that the party shall bear their own cost
of litigation, as such there shall be no order as to
the cost.
9) In view of the settlement it is prayed that this
appeal may be disposed as the appeal is settled out
of the court by recording the payment made by way
of cheque towards the full and final satisfaction of
the decree interest of justice and equity.
3. The compromise petition is read over in the language
known to the party present, who has accepted the same.
4. The learned counsel for the appellants has handed over
the Cheque bearing No.420561 dated 29.12.2025 for a sum of
Rs.11,00,000/- (Rupees Eleven Lakhs only) to the respondent in the
presence of the counsel for the respondent.
5. The compromise petition is taken on record.
6. The appeal is disposed of by recording the payment made
by way of Cheque bearing No.420561 dated 29.12.2025 towards full
and final settlement of their claim made in this appeal.
7. Draw decree in terms of the compromise petition.
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8. In view of the settlement arrived at between the parties,
Registry is directed to refund the Court fee already deposited by the
appellant, in accordance with law.
Sd/-
(DR.K.MANMADHA RAO)
JUDGE
KGK, CT:VP
LIST NO.: 1 SL NO.: 11
