M/S Fusion Industries Ltd., v. M./S Chakrapani Vypar Pvt. Ltd.
Case brief
What is this about?
Fusion Industries Ltd. and directors v. Chakrapani Vypar Pvt. Ltd.; Karnataka High Court commercial appeal COMAP No. 184 of 2023 (decided 05-06-2025) against judgment and decree dated 29/03/2023 in Com.O.S. No. 724/2022 (LXXXV Addl. City Civil and Sessions Judge, Bangalore, Commercial Court, CCH-86); filed under Section 13(1A) Commercial Courts Act, 2015; out-of-court settlement between parties recorded; memo and settlement agreement with Board of Directors minutes taken on record; appeal disposed of in terms of settlement; decree to be drawn up accordingly; refund of court fee as applicable; release of amount deposited by appellant in favour of respondent-Company in terms of agreement; consent disposal of commercial appeal.
What did the court decide?
Appeal disposed of in terms of the settlement entered into between the parties as evidenced by the application; decree to be drawn up accordingly; Court fee to be refunded as applicable; and the amount deposited by the appellant to be duly released in favour of the respondent-Company in terms of the agreement.