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2019 DIGILAW 1987 (KAR)

T. K. Thimmaraja Setty v. Susheela Ranganath

2019-09-11

ASHOK G.NIJAGANNAVAR, B.V.NAGARATHNA

body2019
JUDGMENT : B V NAGARATHNA, J. 1. This appeal is filed by the plaintiff-appellant in O.S.No.8184/2011 assailing the judgment and decree of the LXVI Additional City Civil & Sessions Judge holding c/c of XXXVIII Additional City Civil & Sessions Judge, Bangalore City dated 02.12.2016 being aggrieved by the meager rate of interest awarded by the trial Court on the principal sum of Rs.30,00,000/- 2. This appeal is listed to consider I.A.No.1/2017. 3. Learned counsel for the respective parties jointly submit that during the pendency of this appeal, the parties have negotiated a settlement and they propose to seek settlement of their disputes and consequently, disposal of the appeal. 4. Learned counsel for the respective parties have also filed a joint memo. They submit that the respective parties are present and they have identified them. 5. When queried by this Court, the parties to this appeal have stated that they have agreed to settle the disputes between them on their own free volition and without there being any undue influence or coercion from any side. They submit that they would abide by the terms of the compromise arrived at by them and that appeal could be disposed of in the aforesaid terms. 6. The joint memo of the parties, which is filed, is taken on record. It is noted that the same is signed by the respective parties and their counsel. It is noted that a total sum of Rs.22,59,133/- rounded off to Rs.22,59,130/- is payable to the appellant and that the said amount is being paid by a post dated cheque bearing No.770278 dated 04.12.2019 issued by the respondent drawn on Vijaya Bank, Gandhi Bazar Branch, Bengaluru. 7. The parties submit that on realization of the said amount, there shall be no dues or claims on each other and the realization of the aforesaid cheque would imply that there is full and final settlement of the claim of the plaintiff-appellant herein against the respondent. 8. The aforesaid cheque is handed over by respondent's counsel to appellant's counsel and to the appellant, who acknowledges receipt of the same. 9. The joint memo reads as under: "1. 8. The aforesaid cheque is handed over by respondent's counsel to appellant's counsel and to the appellant, who acknowledges receipt of the same. 9. The joint memo reads as under: "1. The appellant has filed the above appeal for modification of the judgment of the Hon'ble XLVI Additional City Civil Judge, holding C/C of XXXVIII Additional City Civil Judge, Bangalore dated 02.12.2016 at ANNEXURE-A by modifying the same by awarding full claim money of Rs.43,63,485/- to the appellant as per the memo of calculation dated 28.07.2016 along with such further interest. 2. The parties have mutually decided to settle their dispute in terms of this joint memo. The appellant has agreed to restrict his interest Claim @ 11% per annum. The respondent has agreed to pay a sum of Rs.22,59,133/- rounded at Rs.22,59,130/- to the appellant in full and final settlement of all the claims of the appellant in the above appeal. The parties for brevity have detailed the calculation for the aforesaid payment as under: Sl.No. Description Amount (in Rupees) Amount (in Rupees) 1 Amount paid by the appellant to the respondent under the Agreement of sale dated 17.07.2007 (Principal amount) 30,00,000=00 2 Cheque amount paid in terms of the judgment dated 12.04.2013 in CC No.32431/2009 on 17.05.2013 30,00,000=00 3 Interest payable by the appellant from the date of issuance of notice dated 19.08.2009 till 17.05.2013 @ 11% per annum (i.e., from 19.08.2009 to 17.05.2013=3 years and 9 months) (i.e., @ Rs.3,30,000/- per annum x 3=9,90,000/- +2,47,500/- for nine months) 12,37,500=00 Total 42,37,500=00 4 Less cheque amount paid 30,00,000=00 5 Balance amount payable as on 17.05.2013 12,37,500=00 6 Interest payable from 18.05.2013 to 17.05.2019 i.e., for 6 years (i.e., @ Rs.1,36,125/-per year) 8,16,750=00 7 Interest payable from 18.05.2019 to 05.08.2019 (i.e., for a period of 3 months14 days) 39,252=00 8 Total amount payable by the respondent to the appellant (i.e., Rs.12,37,500/- +8,16,750/- +39,252/-) 20,93,502=00 20,93,502=00 Total amount payable 20,93,502=00 9 Add: 50% or of the Cost awarded by the Trial Court in OS No.8184/2011 (i.e.,2,10,335/- divided by 2) 1,05,168=00 Total amount payable 21,98,670=00 10 Add: Interest payable from 05.09.2019 to04.12.2019 @ 11% per annum 60,463=00 GRAND TOTAL PAYABLE Rounded at Rs.22,59,130=00 22,59,133=00 (Rupees twenty two lakhs fifty nine thousand one hundred and thirty only) 22,59,130=00 3. The respondent has this day had issued a cheque dated 04.12.2019 bearing No.770278, drawn on M/s.Vijaya Bank, Gandhi Bazar Branch, Bangalore for a sum of Rs.22,59,130/- (Rupees twenty two lakhs fifty nine thousand one hundred and thirty only) to the appellant by agreeing and undertaking to honour the same on its presentment. In case the respondent fails to honor the said cheque, the appellant shall be entitled to claim interest on Rs.30,00,000/- paid by him @ 18% per annum from 17.05.2007 till 17.05.2013 by adjusting the payment of cheque amount of Rs.30,00,000/- paid by the respondent on 17.05.2013. After deducting the said payment, the appellant shall be entitled to claim the outstanding amount along with the interest @ 18% per annum from 18.05.2013 till its repayment. 4. The parties mutually agree that in case of failure on the part of the respondent to honour the aforesaid cheque, the appellant shall be entitled to enforce the decree for the outstanding amount in terms of this Joint Memo as if it is an executable decree and enforce his rights over the suit Schedule Property for the recovery of outstanding sums. The parties mutually agree that till clearance of the payment to the appellant, the appellant shall have a specific charge on the Schedule Property. 5. The parties respectfully pray that this Hon'ble Court may be pleased to order for the refund of the entire court fee paid by the appellant at the time of filing the above appeal, which shall be for the exclusive benefit of the appellant. WHEREFORE, the parties above named respectfully pray that this Hon'ble Court may be pleased to pass the judgment and decree in terms of this Joint Memo, in the interest of justice and equity." 10. The parties submit that they shall abide by the terms of settlement arrived in this appeal. 11. We have perused the terms of the settlement arrived at between the parties and find the same to be lawful. We do not find any legal impediment in disposing of the appeal in terms of the compromise arrived at between the parties. 12. In the circumstances, the appeal is allowed in part and disposed of in terms of the settlement arrived at between the parties by modifying the impugned judgment and decree of the trial Court accordingly. 13. We do not find any legal impediment in disposing of the appeal in terms of the compromise arrived at between the parties. 12. In the circumstances, the appeal is allowed in part and disposed of in terms of the settlement arrived at between the parties by modifying the impugned judgment and decree of the trial Court accordingly. 13. In view of the settlement arrived at between the parties in this appeal, the appellant is entitled to 75% of the Court Fee paid by him under Section 66(2)(c) of the Karnataka Court Fees and Suits Valuation Act,1958. In view of the disposal of the appeal, I.A.No.1/2017 stands disposed.