Rajasthan High Court
Suresh Kumar Agarwal S/O Shri ... vs Vikas Baradiya S/O Shri Rajendra ... on 1 August, 2022
Bench: Sudesh Bansal
HIGH COURT OF JUDICATURE FOR RAJASTHAN
BENCH AT JAIPUR
S.B. Civil First Appeal No. 401/2022
Suresh Kumar Agarwal S/o Shri Banshidhar Agarwal
----Appellant
Versus
Vikas Baradiya S/o Shri Rajendra Kumar Baradiya,
----Respondent
Connected with
S.B. Civil First Appeal No. 408/2022
Suresh Kumar Agarwal S/o Shri Banshidhar Agarwal,
----Appellant
Versus
Gaurav Baradiya S/o Shri Rajendra Kumar Baradiya,
----Respondent
For Appellant(s) : Mr. Babu Lal Gupta with
Mr. Ankul Gupta
For Respondent(s) : Mr. Ramesh Chand Sharma
Mr. Sanjay Srivastava
HON'BLE MR. JUSTICE SUDESH BANSAL
Order
01/08/2022
Appellant-defendant has preferred these first appeals feeling
aggrieved by the impugned judgment and decree dated
19.05.2022 passed in Civil Suits No.133/2012 & 134/2012 by the
Additional District Judge No.3, Jaipur Metropolitan-II, Jaipur
whereby and whereunder the suits for specific performance and
permanent injunction filed by respondents-plaintiffs to transfer
Rs.50,000/- shares of each plaintiff in M/s R&R Consortium Private
Limited, have been decreed in their favour and decree for specific
performance to this effect has been passed against appellant-
defendant.
Heard.
Both first appeals are admitted for hearing.
(2 of 3) [CFA-401/2022]
Issue notice to respondents.
Since, respondents have already put in appearance as
caveator, no need to issue notices.
Heard learned counsel for both parties on stay applications.
Appellant-defendant, in his cross examination before the trial
court, has admitted to receive 15 lakhs-15 lakhs amount from
both plaintiffs and in addition to that has accepted to receive
Rs.12,50,000/- back given by him as, loan amount, deposited in
the M/s R&R Consortium Private Limited. Once on the face value,
the appellant has accepted to receive the whole amount equal to
the worth of his shares, he cannot be allowed to take double
benefit of seeking stay of the decree for not paying his shares,
also.
However, since the issue of specific performance regarding
transfer of shares, is yet to be examined and finalized in the
present appeal, in order to maintain balance of equities and
interests of both parties, it is hereby directed that the execution of
the impugned judgment and decree dated 19.05.2022 to the
extent of specific performance of the transfer of total One Lakh
shares (50 thousand shares-50 thousand shares) shall remain
stayed subject to condition of deposition of the total amount of Rs.
42,50,000/-(15,00,000+15,00,000+12,50,000) before the trial
court within a period of four weeks from today.
On deposition of such amount, if respondents-plaintiffs are
willing to withdraw the same within a period of four weeks from
the date of deposition, they can be permitted to withdraw the
same, on furnishing an undertaking that in case appellant
succeeds in the appeal, they would restitute the amount with
interest before the trial court.
(3 of 3) [CFA-401/2022]
The deposition and withdraw will not affect the right of either
of the parties or merits of appeals.
In case, respondents-plaintiffs do not opt to withdraw the
deposited amount within a period of four weeks from the date of
deposition, the trial court shall deposit this amount in a
nationalized bank in fixed FDR initially for a term of three years,
subject to renewal from time to time and its disbursement along
with accrued interest would depend upon final outcome of the first
appeals.
As far as the decree, for permanent injunction for not
transferring shares, in question, is concerned, the same shall
remain operative during course of first appeal.
It is made clear that the stay will operate only on fulfillment
of the condition of depositing the amount as mentioned
hereinabove, otherwise the stay application would be treated as
dismissed.
With aforesaid observations, both stay applications stand
disposed of.
Record of court below need not be summoned at this stage.
(SUDESH BANSAL),J
SACHIN /81 & 20
Powered by TCPDF (www.tcpdf.org)
