Madras High Court
Mr.Rohan Daniel Mukherjee vs M/S The Waterbase Limited on 23 September, 2024
Author: S.M.Subramaniam
Bench: S.M.Subramaniam
Cont.A.No.7 of 2024
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED: 23.09.2024
CORAM :
THE HON'BLE MR. JUSTICE S.M.SUBRAMANIAM
AND
THE HON'BLE MRS.JUSTICE N.MALA
Contempt Appeal No.7 of 2024
1. Mr.Rohan Daniel Mukherjee
Partner, M/s Rising Tide
represented by its Partner
Having office at 8/1 H, Diamond Harbour Road
Kolkatta 700 027
2. Mr.Arnab Daniel Mukherjee
Partner, M/s Rising Tide
8/1 H, Diamond Harbour Road
Kolkatta 700 027 .. Appellants
v.
M/s The Waterbase Limited
A company registered under the
Companies Act, 1956
and having registered office at
Ananthapuram Village, Thotapalli
Gudur Mandal, Nellore District 524 344
represented by its Authorised Signatory
Mr.P.Balaji
also at Thapar House, No.37, Montieth Road
Egmore, Chennai 600 008 .. Respondent
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Cont.A.No.7 of 2024
Memorandum of Grounds of Contempt Appeal filed under Section 19
of the Contempt of Courts Act, 1971 against the order dated 19.07.2024
passed in Contempt Petition No.625 of 2021.
For Appellants :: Mr.AR.Ramanathan
For Respondent :: Mr.Anirudh Krishnan
JUDGMENT
(Judgment of the Court was made by S.M.SUBRAMANIAM,J.)
The respective learned counsels appearing on behalf of the
appellants/contemnors and the respondent would submit that the issues
between the parties have already been settled. A joint memo has been filed
to that effect. The relevant portions of the joint memo at paragraphs 3 to 6
are extracted hereunder:-
“3.It is submitted that during the pendency of the present
Appeal, the parties voluntarily expressed their desire to
amicably settle all their pending disputes and ongoing legal
battles between them subject to the following terms agreed
upon under:-
(i) The Appellants herein shall pay an amount of Rs.5.05
Crores towards full and final settlement of all
claims/dues payable to the Respondent herein in the
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following manner;
(ii)A sum of Rs.3.05 Crores shall be paid by Appellants to
the Respondent on listing of the present Appeal on
20.09.2024 before this Hon'ble Court by way of Demand
Draft in favour of “The Waterbase Limited”. After
getting credit of above sum of Rs.3.05 crores, the
Respondent shall put on hold the execution of order
dated 19.07.2024 passed in Contempt Petition No.625
of 2021.
(iii)A sum of Rs.1 Crore of Bank Guarantees furnished by
the Appellants (into four tranches amounting to Rs.25
Lakhs each) before the Registrar of this Hon'ble High
Court in terms of Order dated 29.10.2021 passed by this
Hon'ble Court in Contempt Petition No.625 of 2021
(“Annexure B”) and another Bank Guarantee of Rs.1
Crore furnished by the Appellants in terms of Order
dated 26.07.2024 passed by this Hon'ble Court in the
instant Appeal lying with Sole Arbitrator (“Annexure
C”) shall be released in favour of the Respondent herein
viz., 'The Waterbase Limited' having Current Account
No.10983149186, with the State Bank of India,
Overseas Branch, 86, (Old No.21) Rajaji Salai, Chennai
600 001 (Branch Code 004804) bearing IFSC Code:
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SBIN0004804.
(iv)After getting credit of Rs.5.05 Crores in the above bank
account of the Respondent, the Parties shall withdraw all
pending cases as mentioned in Annexure A of this Joint
Memo filed against each other preferably within 5
working days. However, in no event, the Parties shall
pursue any of the pending cases as mentioned in
Annexure A to this Joint Memo after getting credit of
Rs.5.05 Crores in the above bank account of the
Respondent, and the Order dated 19.07.2024 passed in
Contempt Petition No.625 of 2021 and Sub Appln 239
of 2023 shall be set aside.
(v) None of the Parties shall be left with any claim
(monetary or otherwise) against each other after
discharge of their respective obligations as stated in Para
No.3 of this Joint Memo.
4. The parties jointly agree and undertake that after getting
credit of Rs.5.05 Crores in the above bank account of
Respondent, none of the Parties left with any grievance against
each other to pursue any existing/pending cases or future
claim/action against each other.
5. The Parties jointly pray that this Hon'ble Court may kindly
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be pleased to direct the Registrar General of this Hon'ble Court
to handover the four (4) Bank Guarantees of Rs.25 Lakhs
each, more fully described in Annexure B and a Bank
Guarantee of Rs.1 Crore lying with Sole Arbitrator described in
Annexure C to the Respondent and direct the concerned Banks
to release the said sum of Rs.2 Crores to the in favour of the
Respondent herein to its Bank account i.e., 'The Waterbase
Limited' having Current Account No.10983149186, with the
State Bank of India, Overseas Branch, 86, (Old No.21) Rajaji
Salai, Chennai 600 001 (Branch Code 004804), bearing IFSC
Code: SBIN0004804.
6. The present Joint Memo is bona fide and is made in the
interest of justice.”
2. In view of the settlement between the parties, no further
adjudication needs to be undertaken and consequently, the contempt appeal
stands closed. Consequently, C.M.P.Nos.15978 & 15979 of 2024 are also
closed.
Index : yes/no (S.M.S.,J.) (N.M.,J.)
Neutral citation : yes/no 23.09.2024
ss
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S.M.SUBRAMANIAM,J.
AND
N.MALA,J.
ss
23.09.2024
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