Engineering Projects (India) Ltd. Vs. M/s. K.P.R. Reddy
EmailAppeal: Civil Appeal Nos. 5199-5200 of 2000
(Arising out of SLP (C) Nos. 6700-6701 of 1999)
(Arising out of SLP (C) Nos. 6700-6701 of 1999)
Petitioner: Engineering Projects (India) Ltd.
Respondent: M/s. K.P.R. Reddy
Apeal: Civil Appeal Nos. 5199-5200 of 2000
(Arising out of SLP (C) Nos. 6700-6701 of 1999)
(Arising out of SLP (C) Nos. 6700-6701 of 1999)
Judges: V.N. KHARE & S.N. VARIAVA, JJ.
Date of Judgment: Sep 20, 2000
Head Note:
CONSTITUTION
Article 136 – Relief – After hearing parties, a compromise memo filed – Same accepted – Amount deposited in Civil Judge’s Court payable to respondent – First instalment of Rs. 3,30,00,000 to be paid in one month – Default to carry interest @ 15% p.a.
(Paras 3 to 5)
JUDGEMENT:
ORDER
1. Leave granted.
2. After we heard the matter, the parties to these appeals have entered into a compromise. A compromise memo signed by the par-ties and their Counsel is filed today in the Court. It is taken on record.
3. As a result of the said compromise memo, a sum of Rs.6,69,72,521/- is payable by the Engineering Projects (India) Ltd. to M/s. K.P.R. Reddy.
4. A further sum of Rs. 2.50 crores which was deposited by Engi-neering Projects (India) Ltd. in the Original Petition No. 291/92 then pending before the Principal Senior Civil Judge, Visakhapat-nam and on which interest of Rs. 30,27,479/- has accrued shall be payable to M/s. K.P.R. Reddy and who would be entitled to with-draw and appropriate the said amount. The first instalment of Rs. 3,30,00,000/- shall be paid by Engineering Projects (India) Ltd. to M/s. K.P.R. Reddy within one month from today through bankers’ cheque and the balance amount would be payable by 30th of November, 2000.
5. In case of any default in payment of the said instalments by Engineering Projects (India) Ltd., the said unpaid instalments would carry interest at the rate of 15%.
6. In the terms of the compromise memo and what has been stated above, the appeals are disposed of. There shall be no order as to costs.
1. Leave granted.
2. After we heard the matter, the parties to these appeals have entered into a compromise. A compromise memo signed by the par-ties and their Counsel is filed today in the Court. It is taken on record.
3. As a result of the said compromise memo, a sum of Rs.6,69,72,521/- is payable by the Engineering Projects (India) Ltd. to M/s. K.P.R. Reddy.
4. A further sum of Rs. 2.50 crores which was deposited by Engi-neering Projects (India) Ltd. in the Original Petition No. 291/92 then pending before the Principal Senior Civil Judge, Visakhapat-nam and on which interest of Rs. 30,27,479/- has accrued shall be payable to M/s. K.P.R. Reddy and who would be entitled to with-draw and appropriate the said amount. The first instalment of Rs. 3,30,00,000/- shall be paid by Engineering Projects (India) Ltd. to M/s. K.P.R. Reddy within one month from today through bankers’ cheque and the balance amount would be payable by 30th of November, 2000.
5. In case of any default in payment of the said instalments by Engineering Projects (India) Ltd., the said unpaid instalments would carry interest at the rate of 15%.
6. In the terms of the compromise memo and what has been stated above, the appeals are disposed of. There shall be no order as to costs.
