SMT. H.B. USHA versus D.S. RAMACHANDRA

Citation: [1994] SUPP. 6 S.C.R. 456 · Decided: 12-12-1994 · Supreme Court of India · Bench: K. RAMASWAMY, N. VENKATACHALA · Disposal: Disposed off
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Judgment (excerpt)

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SMT. H.B. USHA 
v. 
D.S. RAMACHANDRA 
DECEMBER 12, 1994 
[K. RAMASWAMY AND N. VENKATACHALA, JJ.] 
Partnership-Disputes among partners-Settlement arrived at-
Court 's order in terms of 
In this case the parties have settled the disputes amicably. This 
Court passed the following order in terms of the settlement placed 
before it. 
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1. The appellant shall pay to the respondent a total sum of Rs. 
3,25,00,000 for his giving up half share in the partnership firm in her 
favour as under:-
(a) A sum of rupees seventy five lakhs which is lying in 
the Star Deposit account in State Bank of India, City 
Branch, Bangalore, in the name of Stone Bonds (P) 
Ltd. should be released to the respondent, with 
interest accrued thereon, by crediting the same to the 
account of the respondent within a period of seven 
days from the date of this order; (457 G to HJ 
(b) the appellant shall deposit in the account of 
respondent a sum of rupees Fifty Lakhs within a 
period of sixty days from the date of this order. The 
balance of rupees two crores shall also be deposited by 
the appellant in the account of respondent within a 
period of four months thereafter or within six months 
from the date of this order. In an event of any default 
in the deposit of the said amount to the account of 
respondent within the aforesaid respective periods, 
from the date of the default till the date of deposit, the 
appellant shall pay interest @21 % per annum on the 
defaulted amount to the respondent. [458 B to CJ 
2. All the pending suits in all the courts against each other or 
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against each other's employees or others, whosoever have initiated 
456 
H.B. USHA v. D.S. RAMACHANDRA 
457 
them, and all the proceedings both civil and criminal shall stand A 
witbdrawn to this Court and disposed of. (458 DJ 
3. The respondent shall, as is undertaken by him, handover all the 
lease deeds and other documents pertaining to partnership business in 
his possession to the appellant within a period of one week from the 
date of this order. (459 BJ 
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4. In the event of the default being continued beyond the period of 
six months, the respondent would be at liberty to approach this Court 
for seeking appropriate directions for reversal of the orders passed. 
(459 CJ 
5. The leases granted in the name of the firm will continue in the 
same name but, as a proprietory concern of the appellant and the same 
shall be regarded as her proprietory concern with fulll proprietory 
rights in its assets. (459 CJ 
CIVIL APPELLATE JURISDICTION: Civil Apeal No. 9515/94. 
From the Judgment and Order dated 17.12.93 of the High Court of 
Karnataka at Bangalore, in Misc.F.A. No. 1914/93. 
S.B. Sanyal and P. Mahala for the Appellant. 
H.N. Salve and Ms, Kiran Suri for the Respondent. 
The following Order of the Court was delivered 
Leave granted. 
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We are happy to note that at the suggestion of this Court, the parties 
have settled the disputes amicably. Therefore, having regard to the terms of F 
such settlement placed before us, the following order is made: 
The appellant-Smt. H.B. Usha shall pay to the respondents D.S. 
Ramchandra a total sum of Rs. 3,25,00,000 for his giving up half share in 
the partnership firm-Mis Ajax Petro in her favour as under: 
(1) A sum of Rs. 75,00,000 which is lying in the Star Deposit account 
in State Bank of India, City Branch, Bangalore, in the name of Stone Bonds 
(P) Ltd. should be released Jo the respondent, with interest accrued thereon, 
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by crediting the same to the account of the respondent in Canara Bank, 
South End Road Branch, Bangalore, within a period of seven days from 
today; . or the appellant shall give necessary direction to the S.B.I., City H 
458 
SUPREME COURT REPORTS 
[1994] SUPP: 6 S.C.R 
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Branch, Bangalore, to withdraw the deposit made in Stone Bonds (P) Ltd. 
in the name of the respondent and deposit the same in the account of the 
respondent in Canara Bank, South End Road Branch, Bangalore, the 
account number to be given by the respondent. 
· (2) The appellant shall deposit in the said account of respondent a sum 
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of Rs. 50,00,000 within a period of sixty days from today. 
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(3) The balance of Rs. 2,00,00,000 (rupees two crores) shall also be 
deposited by the appellant in the said account of respondent within a period 
of four months thereafter or within six months from today. 
In the event of any default in the deposit of the said amounts to the 
account of respondent,
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