Karnataka High Court
Sri M Janardhan Reddy vs State Bank Of India on 18 September, 2018
Author: B.V.Nagarathna
Bench: B.V. Nagarathna
1
IN THE HIGH COURT OF KARNATAKA AT BENGALURU
DATED THIS THE 18TH DAY OF SEPTEMBER, 2018
BEFORE
THE HON'BLE MRS. JUSTICE B.V. NAGARATHNA
WRIT PETITION No.33538/2018 (GM-DRT)
BETWEEN:
Sri. M. JANARDHAN REDDY
S/O. MUNI REDDY
AGED ABOUT 62 YEARS
NO. 903, KUMAR BUILDING
GANGA NIVAS A BLOCK, AECS LAYOUT
SINGASANDRA, KUDLU
BENGALURU - 560 068. ... PETITIONER
(BY SMT. SANDHYA U. PRABHU, ADVOCATE.)
AND:
1. STATE BANK OF INDIA
ASSET RECOVERY MANAGEMENT BRANCH
1ST FLOOR, STATE BANK OF INDIA BUILDING
3RD BLOCK, B.K.G. COMPLEX
AVENUE ROAD, BENGALURU - 560 001
REPRESENTED BY ITS
AUTHORIZED OFFICER.
SRI BALAKRISHNA J.
DELETED VIDE COURT ORDER
DATED 05.09.2018.
2. SRI SURE NAGA KISHORE
MAJOR, R/AT. NO.302, E BLOCK
RAINBOW VISTAS APARTMENT
MOOSAPET, HYDERABAD.
3. SMT. MEGHANA MALIREDDY
W/O. SANTHOSH K.M.
2
AGED 29 YEARS
R/AT. D.NO. 578, AECS LAYOUT
A BLOCK, HOSUR MAIN ROAD
KUDLU GATE, BANGALORE - 560 068.
4.*SRI K.C. RAVINDRA BABU,
S/O. LATE V. CHANDRAPPA
AGED 46 YEARS,
R/AT. #1, VENKATESHWARA NILAYA
4TH CROSS, NGR LAYOUT, BANGALORE - 68
PERMANENT ADDRESS :
MATHRUSHREE NILAYA
NO. 173, OPP. TO JANATHA COLONY
NEAR SAW MILL, ANEKAL
CHANDAPURA ROAD KAVALA-HOSAHALLI
VILLAGE, ANEKAL
ANEKAL TALUK - 562 106. ... RESPONDENTS
(Amended vide Court order dated 18/09/2018)
(BY SRI FRANCIS XAVIER, ADVOCATE FOR R-1,
SRI PRAKASH M. PATIL, ADVOCATE FOR R-2;
SRI NARAYANA REDDY, ADVOCATE FOR R-3;
SRI N. CHANNA KRISHNAPPA, ADVOCATE FOR R-4)
THIS WRIT PETITION IS FILED UNDER ARTICLES 226
AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO
QUASH/SET ASIDE THE ORDER DATED 31.7.2018 PASSED BY
LEARNED HON'BLE JUDGE, DEBT RECOVERY TRIBUNAL-II AT
BANGALORE IN S.A.NO. 171/2018 VIDE ANNEX.U
RESPECTIVELY IN RESPECT OF SCHEDULE PROPERTY, ETC.
THIS WRIT PETITION COMING ON FOR HEARING ON
INTERLOCUTORY APPLICATION, THIS DAY, THE COURT MADE
THE FOLLOWING:
ORDER
Learned counsel for the respective respondents jointly submit that the dispute between the parties has *Corrected V.C.O. dated 23/10/2018 3 been settled amicably. The settlement arrived at between the parties is reflected in a joint memo, which is filed by them. Learned counsel for respective parties have identified their parties who are present in Court. The joint memo is signed by the respective parties and by their respective counsel. They further submit that the settlement arrived at between the parties is on their own volition without there being any coercion or force from any quarter. They submit that the writ petition could be disposed off in terms of the joint memo.
2. The joint memo is taken on record, which reads as under;
1. At the intervention of well wishers and friends of both parties, the said parties have amicably arrived at a settlement, which is detailed below and the petitioner and respondents are accordingly submitting this joint memo requesting this Hon'ble Court to record the same and dispose the above matter accordingly.
2. The balance sheet of respondent No.1 shows discharge amount with penal as Rs.31,73,185/-
4(Rupees Thirty One Lakhs Seventy Three Thousand One Hundred Eighty Five only) and Rs.82,037/- (Rupees Eighty Two Thousand Thirty Seven only) towards publication expenses and advocate fee as Rs.82,576/- (Rupees Eighty Two Thousand Five Hundred Seventy Six Thousand only) which totally comes to Rs.33,37,798/- (Rupees Thirty Three Lakhs Thirty Seven Thousand Seven Hundred Ninety Eight only) and the petitioner has no objection to release the above said amount in favour of Respondent No.1. The petitioner has agreed to withdraw the Securitisation Appeal in S.R.No.5074/2018 pending on the file of Hon'ble Debt Recovery Tribunal at Bangalore and by receiving Rs.33,37,798/- ( Rupees Thirty Three lakhs Thirty Seven Thousand Seven Hundred Ninety Eight only) the respondent No.1 has agreed to discharge the petitioner from the liability and further agreed to handover the property papers within four days from the date of clearance of loan amount.
3. The respondent No.2 who is an auction purchaser has parted with Rs.8,80,000/- (Rupees Eight Lakhs Eighty Thousand only) as 5 on 25/06/2018, Rs.13,33,250/- (Rupees Thirteen Lakhs Thirty Three Thousand Two Hundred Fifty only) and an amount of Rs. 20,00,000/- (Rupees Twenty Lakhs only) on 10/07/2018 in total Rs.42,13,250/- ( Rupees Forty Two Lakhs Thirteen Thousand Two Hundred Fifty only) and the respondent No.1 Bank has agreed to return the amount of Rs.42,13,250/- (Rupees Forty Two Lakhs Thirteen Thousand Two Hundred Fifty only) and the petitioner has agreed to pay an interest at the rate of 8% as on today which comes to Rs.71,386,44/- (Rupees Seventy One Thousand Three Hundred and Eight Six Forty Four Paise only) . The petitioner has no objection to release the said amount in favour of respondent No.2 and by receiving the said amount the respondent No.2 has agreed to give up his claim over the property.
4. The respondent No.3 is proposed purchaser who has deposited an amount of Rs.1,20,00,000/- ( Rupees One Crore Twenty Lakhs only). The petitioner has agreed to execute the sale deed in favour of the respondent No.3 immediately after redemption 6 of mortgage and on receipt of original title papers from the respondent No.1.
5.The respondent No.4 who is an agreement holder from the petitioner who has filed an application for imlpeading himself as respondent N.4. The petitioner admits that, the respondent No.4 has advanced an amount of Rs.22,64,000/(Rupees Twenty Two Lakhs Sixty Four Thousand only) on 16/07/2015 but it is denied that the respondent had complied his part of contract. The respondent No.4 has filed a suit in O.S.No.1300/2015 by Hon'ble Senior Civil Judge and JMFC at Anekal for specific performance. As now the matter is likely to be settled, both the parties have agreed for settlement and the petitioner has agreed to return the amount of Rs.22,64,000/- ( Rupees Twenty Two Lakhs Sixty Four Thousand only)_ with interest at the rate of 9% p.a. which comes to Rs.6,44,217/- ( Rupees Six Lakhs Forty Four Thousand Two Hundred Seventeen only) and in total amount to Rs.29,08,217/- ( Rupees Twenty Nine Lakhs Eight Thousand Two Hundred Seventeen only) Further the 25% of the court fee of Rs.1,86,300/- ( Rupees One Lakh Eighty 7 Six Thousand Three Hundred only) which comes to Rs.46,575/- (Rupees Forty Six Thousand Five Hundred Seventy Five only). The petitioner has no objection to release an amount of Rs.29,54,792/- (Rupees Twenty Nine Lakhs Fifty Four Thousand Seven Hundred Ninety Two only). Further respondent No.4 has agreed to withdraw the suit in O.S.No.1300/2015 and Misc.No.28/2016 pending before the Hon'ble Senior Civil Judge and JMFC at Anekal. Further, the petitioner has agreed to withdraw the writ petitions in W.P. No.12106/2018 (GM-CPC) and W.P.No.36948/2018 (GM-CPC) filed challenging the orders of the learned Trial Judge in respect of suit schedule property. The respondent No.4 has agreed to cancel the registered sale agreement entered into between the parties on or before the date of registration of sale deed by the petitioner in favour of respondent No.3 and respondent No.4 has agreed that he will not have any claim over the property on receipt of the said amount. The petitioner has no objection to release the amount of Rs.29,54,792/- (Rupees Twenty Nine Lakhs Fifty Four Thousand Seven Hundred Ninety Two only) in favour of respondent No.4.
86. The petitioner further prays that this Hon'ble Court to release the balance amount of Rs.56,36,023.56 (Rupees Fifty Six Lakh Thirty Six Thousand Twenty Three and Fifty Six Paise only) in favour of petitioner after execution of sale deed in favour of respondent No.3 and its production before registry.
7. The petitioner and respondent No.1, 2 and 4are entitled to the amount as follows:
Sl.No Parties Amount to be
released
1 Petitioner Rs.56,36,023.56(Rup
ees Fifty Six Lakh
Thirty Six Thousand
Twenty Three and
Fifty Six Paise only)
2 Respondent No.1 Rs.33,37,798/-
(Rupees Thirty Three
Lakhs Thirty Seven
Thousand Seven
Hundred Ninety Eight
only)
3 Respondent No.2 Rs.71,386.44(Rupees
Seventy One
Thousand Three
Hundred and Eight
Six Forty Four Paise
only)
4 Respondent No.4 Rs.29,54,792/-
(Rupees Twenty Nine
9
Lakhs Fifty Four
Thousand Seven
Hundred Ninety Two
only)
8. The settlement is entered/signed by the parties out of their own free will and the same is without any fraud, threat, coercion or undue influence."
3. Having perused the joint memo, I find that the settlement arrived at between the parties is lawful and there is no legal impediment to accept the same. Parties further agree that they would comply with the terms of the joint memo and accordingly take steps. Pursuant to the order dated 06/08/2018, petitioner's representative i.e. respondent No.3, purchaser of the schedule property has deposited a sum of Rs.1.20 crores before this Court.
Registry is directed to disburse the said amount in terms of the joint memo after identifying the parties, to which they are entitled to receive the same. The balance amount shall be refunded to the petitioner.
104. Respondent No.1-Bank has to return a sum of Rs.42,13,250/- only to respondent No.2. Respondent No.4 shall take steps to cancel the registered agreement to sell and withdraw the suit in O.S.No.1300/2015.
5. It is needless to observe that in view of respondent No.4 withdrawing the suit in O.S.No.1300/2015, he shall be entitled to refund of 75% of the Court fee in terms of Section 66(1) of the Karnataka Court Fees and Suits Valuation Act, 1958 as amended w.e.f. 21/01/2015. Once steps are taken by respondent No.4 herein, in terms of the joint memo, Registry of the *Senior Civil Judge and JMFC at Anekal, Bengaluru, shall release 75% of the amount of the Court fee to respondent No.4.
6. Writ petition is disposed off in the aforesaid terms.
Sd/-
JUDGE Msu *Corrected V.C.O. dated 23/10/2018