Geo Wilson vs Muthoot Vehicle & Asset Finance ...
2021 Latest Caselaw 4634 Ker

             IN THE HIGH COURT OF KERALA AT ERNAKULAM

                             PRESENT

             THE HONOURABLE MRS. JUSTICE MARY JOSEPH

      FRIDAY, THE 29TH DAY OF JANUARY 2021 / 9TH MAGHA, 1942

                        FAO.No.78 OF 2017

      IN E.A NO.588/2014 IN E.P NO.07/2011 IN AR No.464/2008

   DATED 17-01-2017 OF IV ADDITIONAL DISTRICT JUDGE, THRISSUR.


APPELLANT/PETITIONER/JD-1:

             GEO WILSON,
             S/O WILSON, KARATHARA HOUSE,PUTHUR PO, THRISSUR.

             BY ADV. SRI.DILIP J. AKKARA

RESPONDENT/RESPONDENT/DECREE HOLDER:

             MUTHOOT VEHICLE & ASSET FINANCE LTD.
             KARIYAN TOWER, BANERJI ROAD, ERNAKULAM-18.

              BY ADV. SRI.SABU S.KALLARAMOOLA

     THIS FIRST APPEAL FROM ORDERS HAVING BEEN FINALLY HEARD ON
09.02.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 FAO.No.78/2017                    2



                              JUDGMENT

Dated this the 09th day of February, 2021

The issues involved in the appeal have been amicably

settled in a mediation process held in the year 2017. The

Memorandum of Settlement Agreement executed pursuant to

the mediation process is also produced. The terms and

conditions for arriving at the settlement is incorporated in the

Memorandum. The Memorandum of Settlement Agreement is

also found signed by both parties to the proceedings and their

respective counsel. It is submitted by the learned counsel for

the respondent that the conditions under Clause (2) and Clause

(3) have been complied with and the amount stated therein

have been received by him in full and final satisfaction. It is

provided in the Memorandum of Settlement Agreement as

Clause (5) that if the respondent is satisfied with payment of

the amounts, he shall issue a No Objection Certificate to the

appellant. It is submitted by the learned counsel for the

respondent that No Objection Certificate has already been

issued to the appellant.

In the above circumstances, FAO stands allowed. E.A

No.588 of 2014 seeking to set aside the sale stands allowed. The

sales stand set aside. Memorandum of Settlement Agreement

shall form part of the judgment.

Sd/-

MARY JOSEPH

JUDGE

JJ ./ I f\i, ' cu{ rV A \ ,,tt'' ERNAKULAM MEDIATION CENTRE (HIGH COURT HALL) ..l U, ._ h{'t # 2nd Il floor. above sBr.

Yu' EMC/Reg. No..qzt/t} Dated: >x /r / z-^,rV From

The Nodal Officer, High Court Mediation Centre.

To

The Registar (Judicial),'

o High Court of Keral4 Erna[rlam Sfu,

Sub:-Mediation of referred cases- Reg.

Ref:- Referrat order n,.,.7hp......2.51.h I t.

dated ... t*t+. /.4

:

The rcport of the Mediator in the matter along with the enclosures is furnished herewith for information and necessary action.

*o

p{'
ht.tr                                                                                Nodal Officer

Ernakulam Mediation Cenfre

./-

End:- 1. Report of the Mediator, SettlementAgreement.

//

2. copy of refenal order dared ...+l.)./n.......of the High courr of Kerala. '3. Copy of petition.

o

BEFORE THE HONOURABLE HIGH COURT OF KERALA AT ERNAKULAM

F.A.O. No.78l2OI7 Geo Wilson Appellant

Vs.

o Muthoot Vehicles & Assets Finance Ltd. Respondent

REPORT SUBMITTED BY THE MEDIATOR ADV. P.R. SHA,I

Med iated, Pa ld settle the matter. Hence rties cou

mediation terminated. Terms of settlement is attached herewith, therefore this Hon'ble Court may pass appropriate orders on the basis of the terms and conditions of the o settlement ag reement.

Dated this the 28th day of January , 2O2L.

f, P.R. shail Mediator Ernakulam Mediation Centre o

BEFORE THE HONOURABLE HIGH COURT OF KERALA AT ERNAKULAM F.A.O. No.78/2017

Geo Wilson Appella nt

Vs.

Muthoot Vehicles & Assets Finance Ltd' Respondent O UNDER MEMORANDRUM OF SETTLEMENT AGREEMENT READ SECTION 89 OF THE CODE OF CIVIL PROCEDURE W|THRULES24&25oFTHEKERALAC|VILPRoCEDURE (MEDIATION), RULES, 2OO8:

1. Both parties have agreed to settle their dispute for an amount of Rs.11,50,000/-(Rupees Eleven Lakhs Fifty thousand only) towards full and final settlement of their claim' o to pay an amount of Rs'50'000/-

2. The petitioner has agreed (Rupee Fifty thousand only) on or before 3I't July, 20L7 to the respondentMuthootVehic|es&AssetsfinancePvt.Ltd., Erna ku la m.

&A,3S:T FINANCELTD'

/

:. The petitioner has agreed to pay an amount of Rs.1,50,000/- (Rupees one lakh Fifty thousand only) on or before 15th August, 2OL7 and the balance amount of Rs'9,50,000/- (Rupees Nine lakhs Fifty thousand only) in equal installments starting from 15th september, 2OL7 to 15th March, 2018 @ Rs.1, 35,715/-(Rupees One lakh Thirty Five thousand Seven

hundred and Fifteen only).

4. Both parties have agreed that in default of the above the Proceedings in E,P. No.7/20L1 in A.R.

conditions, No.464l2008 of the Addl. District Court lV, Thrissur, will

continue for the realization of the amount mentioned in the above execution Petition.

5. Respondent has agreed satisfaction of the amounts, the respondent will issue the No Objection Certificate to the petitioner.

SSfl I\N,\\.iCELID'

6. The conditions afore mentioned have been comPlied with and full amount mentioned in Clause (1) has been received bY the respondent who has issued the 'No Objection Certificate' as

stipulated in Clause (5).

Hence, this FAo may be disposed off accordingly.

Dated this the 28th day of January , 202L'

S3TT FIiIAI'ICELlD Appellaq\ ( "\.s# Eeo Wilson tVe Fin

df,.,.,,I Qt' l 5*\'Jr'at Couniel fo/ the Appellant Respondent 5rtBv .- QA4 rrtaAtttool.+\ I vERtFICATtoN

we, the parties above named, do hereby solemnly state and declare that what is contained in paragraphs-1 to 6 are true to the best of our knowledge, information and belief.

Dated this the 28th day of January ' 2O2I'

Appellant Respondent

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