Full Judgment Text
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PETITIONER:
SMT. H.B. USHA
Vs.
RESPONDENT:
D.S. RAMACHANDRA
DATE OF JUDGMENT12/12/1994
BENCH:
RAMASWAMY, K.
BENCH:
RAMASWAMY, K.
VENKATACHALA N. (J)
CITATION:
1995 SCC Supl. (2) 49 JT 1995 (2) 89
1994 SCALE (5)342
ACT:
HEADNOTE:
JUDGMENT:
1. Leave granted.
2. We are happy to note that at the suggestion of this
Court, the parties have settled the disputes amicably.
Therefore having regard to the terms of such settlement
placed before us, the following order is made;
The appellant-Smt. H.b. usha shall pay to the respondent
-D.S. Ramachandra a total sum of Rs. 3, 25,00,000/- for his
giving up half share in the partnership firm- M/s. Ajax
Petro in her favour as under;
(1) A sum of Rs.75,00,000/- which is lying in the Star
Deposit account in State Bank of India, City Branch,
Bangalore, in the name of Stone Bonds (P) Ltd. should be
released to the respondent, with interest accrued thereon,
by crediting the same to the account of the respondent in
Canara Bank, South End Road Branch, Bangalore, within a
period of seven days from today; or the appellant shall give
necessary direction to the S.B.I., City Branch, Bangalore,
to withdraw the deposit made in Stone Bonds (P) Ltd. in the
name of the respondent and deposit the same in the account
of the respondent in Canara Bank, South End Road Branch,
Bangalore, the account number to be given by the respondent.
(2) The appellant shall deposit in the said account of
respondent a sum of Rs.50,00,000/- within a period of sixty
days today.
3. The balance of Rs.2,00,00,000/-
90
(rupees two crores) shall also be deposited by the appellant
in the said account of respondent within a period of four
months thereafter or within six months from today.
3. In the event of any default in the deposit of the said
amounts to the account of respondent, namely, Rs.50,00,000/-
(rupees fifty lakhs) and two crores within the aforestated
respective periods, from the date of the default till the
date of deposit, the appellant shall pay interest @ 21% per
annum on the defaulted amount to the respondent.
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(4) As requested by the appellant and the respondent, all
the pending suits in all the courts against each other or of
each other’s people and all the proceedings both civil and
criminal shall stand withdrawn to this Court and disposed
of.
4. All suits of either party or others connected with the
dispute are disposed of in terms of this order.
(5) All the criminal proceedings pending against each other
or against each other’s employees or others, whosoever have
initiated them, shall also stand withdrawn to this Court and
disposed of The list of which is given below:
(a) O.S.No.5550/93 on the file of the City Civil Judge,
Court Hall 13, Court Complex, Bangalore.
(b) O.S.No. 10753/93 on the file of 7th Addl.City Civil
Judge at Bangalore.
(c) F.I.R. 388/93 of Jayanagar Police Station filed by Mr.
D.S. Ramachandra to be closed.
(d) H.B. Usha’s case against D.S. Ramachandra and B.S.
Nagaraj in High Ground Police Station on September 1993 to
be closed.
(e) Suit No. 1 18/93 in the Munsif’s Court, Berhampur filed
by H.B. Usha.
(f) Case of theft against Mr.S.C.Bisogi, Manager, Ajay
Petro, filed by Mr.Shesadri, Power of Attorney Holder of
Mr.D.S. Ramachandra in Town Police Station, Berhampur.
(g) Police case filed by Mr.Bistu Mohan against M/s
Lathi and S.C. Bisogi.
(6) The respondent shall, as is undertaken by him,
handover all the lease deeds and other documents pertaining
to partnership business in his possession to the appellant
within a period of one week from today.
(7) In the event of the default being continued beyond the
period of six months, the respondent-D.S. Ramachandra would
be at liberty to approach this Court seeking appropriate
directions for reversal of the orders passed today. The
leases granted in the name of firm M/s Ajax Petro will
continue in the same name but, as a proprietory concern of
the appellant-H.B. Usha and M/s Ajax Petro shall be regarded
as her proprietory concern with full proprietory rights in
its assets.
5. The appeal is accordingly disposed of No costs.
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