Calcutta High Court
Hoogly Mills Co Ltd vs S.P.Traders on 7 February, 2014
Author: Arijit Banerjee
Bench: Arijit Banerjee
1
ORDER SHEET
APD No. 348 of 2013
CS No. 317 of 1998
IN THE HIGH COURT AT CALCUTTA
Civil Appellate Jurisdiction
ORIGINAL SIDE
HOOGLY MILLS CO LTD
Versus
S.P.TRADERS
BEFORE:
The Hon'ble JUSTICE BANERJEE
The Hon'ble JUSTICE ARIJIT BANERJEE
Date : 7th February, 2014.
Appearance:
Ms. Ahana Sikdar with Mr. Meghajit Mukherjee
Ld. Advocates for the appellant.
Mr. Dhrubo Ghosh, Mr. R. L. Mitra and
Ms. P. Dhar, ld. Advocates for the respondent.
The Court :- In course of hearing we have come to know, on identical facts the respondent filed two suits for a principal claim of approximately Rs.47 lac and odd that is due since 1997. The respondent had to file two suits as in the transaction the appellant is involved is one transaction whereas the other one would involve their sister concern namely, Hoogly Mills Project Limited. The other suit is also being heard by the learned Single Judge whereas the present appeal would relate to a decree suffered by the appellant.
We are told, the respondent has agreed to accept Rs.1 crore in full and final settlement of both their claims. Mr. Dhrubo Ghosh, learned Counsel appearing for the respondent quantified the original offer as Rs. 1.1 crore. 2 However, the respondent is agreeable to accept Rs.1 crore in full and final settlement provided they are allowed to appropriate a sum of Rs.16 lac lying with the Registrar, Original Side and encash the bank guarantee for Rs. 34 lac that the appellant furnished in favour of the Registrar, Original Side, that would take care of Rs.50 lac.
Mr. Ghosh is also agreeable to withdraw the pending suit in case the appellant agrees to their ultimate proposal, as referred to above.
We find the offer reasonable. In case the appellant agrees to the same, the balance Rs.50 lac may be paid in instalments.
Ms. Sikdar, learned Counsel appearing for the appellant, prays for some time to consider the said offer.
Accordingly, this matter is heard in part and adjourned till February 10, 2014.
(BANERJEE, J.) (ARIJIT BANERJEE, J.) dg/