Supreme Court - Daily Orders
M/S Savitri Shrimps vs Godrej Agrovet Limited on 12 April, 2023
Bench: V. Ramasubramanian, Pankaj Mithal
T.P.(CRL.) NOS.740-742/2022
IN THE SUPREME COURT OF INDIA
CRIMINAL ORIGINAL JURISDICTION
TRANSFER PETITION (CRIMINAL) NOS. 740-742/2022
M/S SAVITRI SHRIMPS & ORS. PETITIONER(S)
VERSUS
GODREJ AGROVET LIMITED RESPONDENT(S)
O R D E R
The parties were referred to the Supreme Court Mediation Centre, where the parties have arrived at a settlement. The Settlement Agreement dated 27.02.2023 arrived at between the parties reads as follows:
“SETTLEMENT AGREEMENT The Settlement Agreement is entered at DELHI on the -27TH day of February 2023 between:
Savitri Shrimps, a partnership having place of business at D. No.10-149/F3, Rajendra Nagar, 2nd Lane, Gudivada, Krishna, Andhra Pradesh represented by its partners:
Sr.No. Name Address
1 Mr. Kanumuri Prasad son of D. NO.10-149/F3,
Suyanarayan Raju, Rajendra Nagar, 2nd
PANA@FPK9127R & Aadhaar Lane, Gudivada, Krishna
57659084 1091) Andhra Pradesh
2 Mrs. Kanumuri Krishna Kumari D.No.10-149/F3,
wife of Kanumuri Prasad (PAN Rajendra Nagar, 2nd
BLXPK1470R And Aadhaar 8310 Lane, Gudivada,
Signature Not Verified
0205 5807) Krishna, Andhra Pradesh
Digitally signed by
NIRMALA NEGI
Date: 2023.04.21
15:56:06 IST
Reason:
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T.P.(CRL.) NOS.740-742/2022
(hereafter, "Savitri Shrimps"), which expression shall unless repugnant to the context or meaning thereof be deemed to mean and include the partner or partners for the time being of the said firm, survivors or survivor of them and the heirs, administrators of the last surviving partner, their or his/her permitted assigns of the ONE PART And Godrej Agrovet Limited, (GIN: L15410MH1991PLC135359) a company incorporated under the Companies Act, 1956, having its registered office at Godrej One, 3rd Floor, Pirojshanagar, Eastern Express Highway, Vikhroli (East), Mumbai 400 079 (hereinafter,referred to as "Godrej Agrovet") represented through Mr. Vivek Raizada, Head - Legal, Company Secretary & Compliance Officer (which term shall be deemed to mean and include its permitted assigns and successors), BACKGROUND A. Godrej Agrovet supplied aqua feed to Savitri Shrimps, in relation to which Savitri Shrimps owes Godrej Agrovet various amounts which are outstanding as on date and legally due and payable by Savitri Shrimps. Savitri Shrimps issued certain cheques in discharge of its liabilities which have been dishonoured upon presentation.
B. In relation to such dishonour of cheques, the partners of Savitri Shrimps are presently being prosecuted under Section 138, Negotiable Instruments Act, 1882 in proceedings before:
(i) the Chief Judicial Magistrate, Chandigarh (for dishonour of cheque of value Rs.80,00,000/- (Crl Complaint No.2091/2021) (ii) the Chief Judicial Magistrate, Indore for cheque of value Rs.90,00,000/- (Criminal Complaint No.1203/2021) and Chief Judicial Magistrate, Serampore, Hoogly (CR No.152/2021) for cheque of value Rs.89,81,021/-
(collectively, the "Pending Cases").
C. During the pendency of Pending Cases, a settlement deed dated 28.07.2021 was executed between the parties. However, Savitri Shrimps was unable to clear the outstanding amounts in terms set out therein.
D. By way of partly securing the outstanding liability of Savitri Shrimps towards Godrej Agrovet, an agreement dated 31.01.2022 was executed between Nandyala Venkata Narasiha Raju, Mr. Nandyala Vijaya Sree Garu (the parents of Smt. Kanumuri Krishna Kumari) in respect of two properties, being: (i) land bearing Revenue Survey No.62/2, Plot Nos. 7 to 8, measuring 242 Square Yards, at Phiryadi Nainavaram village, Vijayawada Rural Mandal, Krishna District Andhra Pradesh, (hereafter,"Property ‘A’)(ii) land bearing Revenue Survey No.62/2, Plot No.2, measuring 272.22 Square Yards, at Phiryadi Nainavaram village, Vijayawada Rural Mandal, 2 T.P.(CRL.) NOS.740-742/2022 Krishna District Andhra Pradesh (hereafter, “Property ‘B’). Godrej Agrovet does not have possession of either Property ‘A’ or Property 'B' but holds certain title documents in relation thereto.
E. Despite the Settlement Deed dated 28.07.2021 and Agreement dated 31.01.2022, for various reasons, the liability of Savitri Shrimps towards Godrej Agrovet has remained outstanding.
F. Meanwhile, in October 2022, Savitri Shrimps instituted Transfer Petition (Crl) No. 740-742 of 2022 before the Hon'ble Supreme Court of India seeking transfer of Pending Cases.
G. On 16.12.2022, the Hon'ble Supreme Court issued notice, limited to exploring settlement.
H. Parties have thereafter undertaken mediation before the Supreme Court Mediation Centre on 10.02.2023 and have arrived at a settlement and hence, this Agreement.
TERMS OF SETTLEMENT
1. As of the date of execution of this Agreement, Savitri Shrimps acknowledges that it owes Godrej Agrovet a principal amount of Rs.2,35,07,001/- (Rupees Two Crore Thirty Five Lakh Seven Thousand One only) (hereafter, "Outstanding Amount”).
2. By way of one-time settlement and strictly subject to the terms set out herein, Godrej Agrovet will accept the reduced amount of Rs.1,80,00,000/- (Rupees One Crore Eighty Lakh only) (hereafter, "Settlement Amounf”) in discharge of Outstanding Amount. Towards the payment of the Settlement Amount, Savitri Shrimps has issued following post-dated Cheques drawn on City Union Bank; Gudiwada Branch, to Godrej Agrovet-
# Date Cheque Details Amount 1. 15.03.2023 000325 Rs.10,00,000/- 2. 15.04.2023 000326 Rs.5,00,000/- 3. 15.05.2023 000327 Rs.10,00,000/- 4. 15.06.2023 000328 Rs.5,00,000/- 5. 15.08.2023 000329 Rs.20,00,000/- 6. 15.11.2023 000332 Rs.30,00,000/- 3 7. 15.02.2024 000331 Rs.1,00,00,000/- TOTAL Rs.1,80,00,000/- 4 T.P.(CRL.) NOS.740-742/2022
The partners of Savitri Shrimps hereby jointly, severally, irrevocably and unconditionally give their confirmation about issuance of above cheque(s) and shall not dispute issuance of such cheque(s). This confirmation will be treated as a confirmation for the purpose of "Positive Pay System" and Godrej Agrovet can use the cheques as and when required and as it deems fit and proper. Savitri Shrimps hereby irrevocably and unconditionally authorizes Godrej Agrovet to use and submit this Settlement Deed as a confirmation for Positive Pay System to the bank of Savitri Shrimps.
3. In consideration of having received the above cheques, Godrej Agrovet is returning the six cheques, bearing nos.002818,002819, 002820, 002821, 002822 and 002823, drawn on City Union Bank, Gudivada Branch, for the aggregate amount of Rs.2,55,07,001/-, which cheques were hitherto furnished by Savitri Shrimps, pursuant to the Settlement Agreement dated 28.07.2021.
4. The owner(s) of Property 'A' and/or Property 'B' are at liberty to undertake the sale of the said properties at any time provided however that the amount equivalent to the sale consideration to be received in relation to any such sale is remitted to Godrej Agrovet, towards adjustment of the Settlement Amount (as then outstanding from Savitri Shrimps).
5. Upon receipt of the amount in terms of Clause 4 above, Godrej Agrovet will release and hand over the relevant title papers in its custody, as furnished pursuant to the agreement dated 31.01.2022.
6. Upon receipt of the amount in terms of Clause 4 above, if the balance outstanding of the Settlement Amount is lesser than the value of the remaining cheques, Savitri Shrimps shall furnish fresh cheques, for the outstanding instalments, for proportionately reduced amounts.
7. So long as the Savitri Shrimps abides by the schedule of payment set out herein, Godrej Agrovet will cooperate with Savitri Shrimps to have the Pending Cases adjourned from time to time and also not oppose any application for exemption from personalappearance.
8. Subject to timely and complete payment on or before 15.02.2024 in accordance with the terms herein, Godrej Agrovet will withdraw the Pending Cases.
9. Savitri Shrimps acknowledges that having regard to the immense delay in payment of dues, the reduction in liability agreed to herein, timely payment is of the essence of the contract. Delay or neglect in payment of the Settlement Amount of Rs.1,80,00,000 entitles Godrej Agrovet to the 5 T.P.(CRL.) NOS.740-742/2022 entire Outstanding Amount of Rs.2,35,07,001 with interest @ 18% p.a. From 28.07.2021.
10. Any detail or failure to make payment as per schedule will entitle Godrej Agrovet to: (i) prosecute the Pending Cases in respect of the offences alleged therein, and/or (ii) initiate civil recovery proceedings, including by way of summary suit, for recovery of the Outstanding Amount of Rs.2,35,07,001/-, with interest at 18% p.a., reckoned from 28.07.2021, and/or
(iii) initiate fresh criminal proceedings for dishonour of cheque(s) issued pursuant to this Settlement Agreement, and/or
(iv) initiate proceedings, before the Hon'ble Supreme Court for appropriate orders, and/or (v) pursue any other remedies available in law.
11. The Parties shall not amend or modify this agreement except in writing, by way of a formal amendment, signed by both parties.
12. No waiver of rights shall be assumed or deemed except when expressly acknowledged and furnished in writing by the party whose rights are affected.
13. The obligations of Savitri Shrimps, as set out herein, are joint and several obligations of its partners, Kanumuri Prasad and Kanumuri Krishna Kumari, who are signatories to this Agreement.
14. Courts in Delhi shall have exclusive jurisdiction in relation to disputes and differences arising in relation to this Agreement.
15. The confidentiality of this Agreement shall be maintained by the Parties hereto. Provided however that a copy of this Agreement may be filed before the Hon'ble Supreme Court in Transfer Petition (Crl) No.740-742 of 2022 for appropriate orders and also, before any court or authority, for any lawful purpose.
16. Three originals of this agreement are signed, in presence of the Learned Mediator, one for each party and one original for submission before the Hon'ble Supreme Court.
FOR Savitri Shrimps FOR Godrej Agrovet Ltd
Petitioner Respondent
Kanumuri Prasad Vivek Raizada
Kanumuri Krishna Kumari Head-Legal, Company Secretary &
Compliance Officer
Mr. Rauf Rahim, Mr. Santhosh Krishnan
Adv. for the Petitioner Adv. for the Respondent
[Girish Chand Tyagi]
Advocate/Mediator
Supreme Court Of India
Date: 27.02.2023.”
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T.P.(CRL.) NOS.740-742/2022
In view of the above the Transfer Petitions are disposed of in terms of the settlement agreement.
Pending application(s), if any, shall stand disposed of.
.......................J. ( V.RAMASUBRAMANIAN ) .......................J. ( PANKAJ MITHAL ) NEW DELHI;
APRIL 12, 2023
RS
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ITEM NO.3 COURT NO.14 SECTION XVI-A
S U P R E M E C O U R T O F I N D I A
RECORD OF PROCEEDINGS
Transfer Petition(s)(Criminal) No(s).740-742/2022
M/S SAVITRI SHRIMPS & ORS. Petitioner(s)
VERSUS
GODREJ AGROVET LIMITED Respondent(s)
(Settlement Agreement dated 27.02.2023 received. IA No. 178705/2022 - STAY APPLICATION) Date : 12-04-2023 These matters were called on for hearing today.
CORAM :
HON'BLE MR. JUSTICE V. RAMASUBRAMANIAN HON'BLE MR. JUSTICE PANKAJ MITHAL For Petitioner(s) Mr. Rauf Rahim, AOR Mr. Ali Asghar Rahim, Adv.
For Respondent(s) Mr. Santosh Krishnan, AOR Ms. Deepshikha Sansanwal, Adv. UPON hearing the counsel the Court made the following O R D E R Transfer Petitions are disposed of in terms of the signed order which is placed on the file.
Pending application(s), if any, shall stand disposed of.
(RADHA SHARMA) (RENU BALA GAMBHIR)
COURT MASTER (SH) COURT MASTER (NSH)
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