Diya Garware Ibanez v. Shri. Vayu Ramesh Garware Nad ORS
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
CIVIL APPELLATE JURISDICTION APPEAL FROM ORDER NO. 751 OF 2016 Diya Garware Ibanez ...Appellant
Versus
Shri.Vayu Ramesh Garware & Ors.
...Respondents
WITH CIVIL APPLICATION NO. 944 OF 2016 IN APPEAL FROM ORDER NO. 751 OF 2016 Diya Garware Ibanez ... Applicant
Versus
Shri.Vayu Ramesh Garware & Ors.
...Respondents
......
Mr. D.J. Khambatta, Sr. Advocate a/w. Mr.Rohan Rajadhyaksha, Mr. Noshirwan Vakil, Ms. Pereis Anklesaria, Mr. Ram Kakkar and Ms. Urvashi Misra i/b AZB & Partners, Advocates for the Appellant in AO No. 751 of 2016.
Mr.S.S.Kanetkar for Respondent No.1.
Ms.Sonu Tandon for Respondent Nos. 3 and 4.
Mr.Aagam J. Joshi for Respondent No.2.
......
CORAM:
MRS.MRIDULA BHATKAR, J.
DATED:
AUGUST 08, 2017 P.C. :
1.
Learned counsel for the parties submit that the parties have amicably resolved the disputes and have prepared Minutes of Order. Learned counsel for the parties further submit that their respective clients are present in the Court.
2.
At the request of the learned counsel for the parties, the Minutes of Order are taken on record and marked "X-1" for identification. The said Minutes of Order are reproduced as under: "1.
Counsels for the parties state that the disputes and differences between the parties, which have been raised in diverse proceedings, have been settled and compromised in terms of a document entitled Family Settlement cum Consent Terms dated 8th August, 2017 ("FSCA"), a copy of which is tendered before me today. The same is taken on record and marked as Annexure '1' and is to be treated as a part of this order.
2.
In view of the terms of the FSCA, the following order (by consent of parties) is passed:
a) The FSCA is taken on record and from the terms of the FSCA, the same is found to be lawful. The same has been duly signed by parties and their respective Advocates. Hence, the requirements of Order XXIII of the Code of Civil Procedure, 1908, stand fulfilled.
b) The Appeal from the Order stands disposed off in terms of the FSCA, with leave to the Parties to subsequently seek directions from this Hon'ble Court to the National Securities Depository Limited ("NSDL"), for the purpose of implementing the terms of the FSCA, if required. c) Under the FSCA (clause 9.3, 9.4 and 9.5), the shares of GWRL held in all the respective folios and/or accounts, are the entitlement of and have been agreed to be transferred to Respondent No.1.
The Parties shall ensure that the NSDL takes all the requisite steps to transmit and/or transfer all of the GWRL shares, in the name of Respondent No.1, which for convenience are enlisted herein below. The Appellant hereby grants her consent or no objection to transfer GWRL shares in favour of Respondent No. 1.
Sr.
No.
Name of entity & ISIN No/.
No. of Demat shares Transmission from Transmission to Name & Account Details of Name & Details of No. Of Shares DP Demat Account DP No.
No.
Garware 93,93 Ramesh B.
Axis Bank Vayu Ramesh Garware Janata Sahakari Bank Ltd., Depository 93,938 Wall Ropes Limited Garware 11845056 Limited, Mayur Colony, Kothrud Branch, Pune 411 10195604 Cell, Bajirao 1.
ISIN :
INE276 A01018 Road, Pune - 411002 IN300280 IN300484 Garware 90,69 Ramesh B.
Axis Bank Vayu Ramesh Garware Janata Sahakari Bank Ltd., Depository 90,694 Wall Ropes Limited Garware 12450882 Limited, Mayur Colony, Kothrud Branch, Pune 411 10195604 Cell, Bajirao 2.
ISIN :
INE276 A01018 Road, Pune - 411002 IN300280 IN300484 Garware 23,02,7 Ramesh B.
Janata Sahakari Bank Ltd., Depository Vayu Ramesh Garware Janata Sahakari Bank Ltd., Depository 23,02,729 Wall Ropes Limited Garware 10195637 Cell, Bajirao 10195604 Cell, Bajirao 3.
ISIN :
INE276 A01018 Road, Pune - 411002 IN300280 Road, Pune - 411002 IN300280 Garware 6,04,6 Ramesh B.
Janata Sahakari Bank Ltd., Depository Vayu Ramesh Garware Janata Sahakari Bank Ltd., Depository 6,04,692 Wall Ropes Limited Garware 10703114 Status of Account :
Cell, Bajirao 10195604 Cell, Bajirao 4.
ISIN :
INE276 A01018 HUF Road, Pune - 411002 IN300280 Road, Pune - 411002 IN300280 5.
Garware 5,20,0 Ramesh B.
Janata Sahakari Bank Ltd., Depository Vayu Ramesh Garware Janata Sahakari Bank Ltd., Depository 5,20,000 Wall Ropes Limited Garware 10697774 Status of Account :
Cell, Bajirao 10195604 Cell, Bajirao ISIN :
INE276 A01018 HUF Road, Pune - 411002 IN300280 Road, Pune - 411002 IN300280 d) Both the Appellant and Respondent No.1 hereby agree and undertake to this Hon'ble Court to abide by, comply with and/or honour the terms of the FSCA and their respective obligations thereunder.
For this purpose, the Appellant and Respondent No.1 also (and without prejudice to the generality of the foregoing) agree to: (i) issue, execute and /or sign all necessary writings and documents as are necessary for compliance, implementation and fulfillment of the FSCA and the transaction/s contemplated thereunder; (ii) attend before all the courts, authorities and entities (as the case may be) for the purposes of disposal of proceedings and implementation of the terms of the FSCA; and (iii) file a true copy of the FSCA before all the courts and authorities and seek a disposal of the proceedings enlisted at Annexure '1' of the FSCA, in terms of the FSCA and this order. Both the Appellant and Respondent No.1 hereby agree and undertake that all the foregoing and the implementation of the transaction/s recorded in the FSCA shall be completed within the period mentioned in the FSCA. All the representations, statements and undertakings given by the Appellant and Respondent No.1 in the FSCA, are hereby treated as undertakings given to this Court". 3.
Liberty to apply.
4.
There shall be no order as to costs.
5.
In view of the Minutes of Order, Appeal from Order is disposed of. 6.
In view of the disposal of Appeal from Order, nothing survives in the Civil Application and the same is disposed of as such. (MRIDULA BHATKAR, J.)