The Secretary Vs Shreyas Castings Pvt. Ltd.

SHREYAS CASTINGS PVT LTD, BEING A PRIVATE LIMITED COMPANY INCORPORATED UNDER COMPANIES ACT AND CARRYING ON BUSINESS AT PLOT NO.112, REVISION SURVEY NO.607, MACHE INDUSTRIAL ESTATE, BELAGAVI-590 014, THROUGH ITS DIRECTOR SRI. KIRAN DATTATREYA KULKARNI, AGED 70 YEARS, OCC: BUSINESS, R/O. BELAGAVI.

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…RESPONDENT

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(BY SRI. TEJPAL A.KAMAL, ADVOCATE)

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2 - NC: 2025:KHC-D:11500-DB RFA No. 100248 of 2023

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HC-KAR

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THIS RFA IS FILED UNDER SECTION 96 OF CPC AGAINST THE JUDGMENT AND DECREE DATED 10.10.2022 PASSED IN O.S.NO.299/2013 ON THE FILE OF THE PRINCIPAL SENIOR CIVIL JUDGE AND CHIEF JUDICIAL MAGISTRATE, BELAGAVI AT BELAGAVI, PARTLY DECREEING THE SUIT FILED FOR RECOVERY OF MONEY.

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THIS APPEAL OMING ON FOR ORDERS THIS DAY, JUDGMENT WAS DELIVERED THEREIN AS UNDER:

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CORAM: THE HON'BLE MR. JUSTICE S.R. KRISHNA KUMAR AND

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THE HON'BLE MR. JUSTICE C.M. POONACHA

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ORAL JUDGMENT

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(PER: THE HON'BLE MR. JUSTICE C.M. POONACHA)

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The learned counsels for the appellant and the respondent have filed a Memorandum of Agreement under Section 89 of the Code of Civil Procedure, 1908 read with Rules 24 and 25 of the Karnataka Civil Procedure (Mediation) Rules, 2007, placing on record the Joint Compromise petition, which reads as follows:

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MEMORANDUM OF AGREEMENT UNDER SECTION 89 OF THE CODE OF THE CIVIL PROCEDURE READ WITH RULES-24 AND 25 OF THE KARNATAKA CIVIL PROCEDURE (MEDIATION) RULES, 2007.

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Herein, the joint compromise petition of the parties to the appeal is as under:

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1. It is submitted that the Appellant has filed the above captioned RFA challenging the impugned Judgment and Decree dated 10-10-2022 made in O.S. NO.

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3 -

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NC: 2025:KHC-D:11500-DB RFA No. 100248 of 2023

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HC-KAR

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299/2013 passed by the Principal Senior Civil Judge and CJM, Belagavi wherein the suit is decreed directing the Defendant/Appellant to pay an amount of Rs.7,13,838/- with interest at the rate of 6% p.a. from the date of suit till its realization.

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2. It is submitted that this Hon’ble court was pleased to grant an Interim order of Stay subject to Appellant depositing 50% of the decreetal amount with proportional interest at the rate of 6% р.а. In owed compliance of the directions issued by this Hon'ble court the Appellant/Defendant has deposited a sum of Rs. 5,73,476/- through D.D. bearing NO. 001727 dated 9-10-2023.

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3. Since the Appellant is now in USA, the Appellant has authorized the General Manager of the company to represent and sign on behalf of the Appellant to this Compromise petition. The copy of the authorization is attached herewith. The appellant is appearing before this Hon'ble Court through Video Conference.

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4. It is submitted that in order to maintain cordial, peaceful, and harmonious relationship between themselves and to avoid further litigation, the appellant and the respondent have voluntarily, without any coercion, pressure, or undue influence, entered into this joint compromise petition, the terms of which are stated herein below.

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4 -

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NC: 2025:KHC-D:11500-DB RFA No. 100248 of 2023

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HC-KAR

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a) After due negotiations and deliberations, the parties have amicably settled the matter in full and final satisfaction of the decree

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b) The Appellant/Defendant agrees to pay and the respondent agrees to accept a total sum of Rs. 10,73,476/(Rupees Ten Lakhs Seventy-Three Thousand Four Hundred and Seventy-Six only) towards full and final settlement of all claims, including principal, interest, and costs.

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c) Out of the above agreed amount, the Appellant/Defendant has already deposited a sum of Rs.5,73,476/- (Rupees Five Lakhs Seventy-Three Thousand Four Hundred and Seventy-Six only) before this Hon'ble Court on 11.10.2023 as per the Interim order granted by this Hon'ble court.

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d) The respondent is entitled to withdraw the said deposited sum of Rs.5,73,476/ without any objection from the appellant.

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e) The appellant has today paid the balance amount of Rs.5,00,000/-(Rupees Five Lakhs only) by way of D.D bearing NO. 002041 dated 4-9-2025 drawn in the favour of the Respondent- "Shreyas Castings Pvt Ltd.," drawn on HDFC Bank. The respondent acknowledges the same and accepts the said D.D. towards full and final settlement.

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5 - NC: 2025:KHC-D:11500-DB RFA No. 100248 of 2023

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HC-KAR

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f) Upon receipt of the above balance amount, nothing further shall remain due and payable by the appellant to the respondent under the decree in O.S. No. 299/2013 оr otherwise arising from the subject matter of the present appeal.

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g) The respondent has no objection for refund of the Court fee to the appellant as per norms, since the matter is settled amicably at the appellate stage.

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h) Both the appellant and the respondent hereby agree that the terms of this compromise are final, binding, and conclusive upon them, their successors, heirs, assigns, administrators, and representatives.

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i) The parties further state that this compromise petition has been entered into voluntarily, out of their free will and volition, without any threat, coercion, misrepresentation, or undue influence of any kind.

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5. In view of the above, the appellant and respondent jointly pray that this Hon'ble Court may kindly:

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a. Record this joint compromise petition under Order XXIII Rule 3 of the CPC;

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b. Dispose of the appeal in terms of this compromise;

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c. Permit the respondent to withdraw the sum of Rs.5,73,476/-deposited before this Hon'ble Court;

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6 - NC: 2025:KHC-D:11500-DB RFA No. 100248 of 2023

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HC-KAR

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d. Take on record the payment of the balance Rs.5,00,000/- by D.D bearing NO. 002041 dated 4-92025 drawn in the favour of the Respondent- "Shreyas Castings Pvt Ltd.," drawn on HDFC Bank. The same is handed over to the respondent before the Hon'ble Court.

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e. Direct refund of admissible Court fee to the appellant, in accordance with law; and

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f. Pass such other and further orders as this Hon'ble Court deems fit in the circumstances of the case.

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6. Parties agreed to appear on 08.09.2025 before the Hon'ble Court for passing Orders/Decree in terms of the above said agreement.

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Sd/M/S Vibromech Engineers and Service LTD (Authorized signatory on behalf of Appellant) sd/Shreyas Castings Pvt. Ltd Respondent

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Sd/- Sd/(G. I. Gachchinamath) (Tejpal Kamal) Advocate for Appellant Advocate for Respondent

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The authorized representative of the appellant/defendant as well as the Director of the

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respondent/plaintiff are present before the Court and they are identified by their learned counsel. The authorized

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7 -

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NC: 2025:KHC-D:11500-DB RFA No. 100248 of 2023

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HC-KAR

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representatives of both the appellant and the respondent and their counsel have affixed their signatures to the Memorandum of Agreement.

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It is agreed between the parties that the appellant/defendant shall pay a total sum of Rs.10,73,476/towards full and final settlement of the claim of the respondent/plaintiff made by O.S. No.299/2013. In that regard, the appellant/defendant has deposited a sum of Rs.5,73,476/before this Court on 11.10.2023 and the appellant/defendant has no objection for the said deposit amount to be released in favour of the respondent/plaintiff.

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The appellant/defendant has paid a sum of Rs.5,00,000/- by Demand Draft bearing No.002041 dated 04.09.2025 drawn on HDFC Bank, the receipt of which is duly acknowledged by the Director of the respondent/plaintiff.

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Both the parties agree and admit to the terms of the compromise as agreed to between them, by way of Memorandum of Agreement. The said Memorandum of Agreement is placed on record.

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NC: 2025:KHC-D:11500-DB RFA No. 100248 of 2023

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HC-KAR

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In view of the aforementioned, the above appeal is disposed off in terms of the compromise entered into between the parties. The judgment and decree passed by the Trial Court is modified in terms of the compromise.

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The court fee paid by the appellant in the above appeal be refunded to the appellant.

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Sd/(S.R. KRISHNA KUMAR) JUDGE

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Sd/(C.M. POONACHA) JUDGE

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KMS Ct:vh List No.: 2 Sl No.: 1

The Secretary v. Shreyas Castings Pvt. Ltd.

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The Secretary v. Shreyas Castings Pvt. Ltd.

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