Intercont Freight Liners (P) Ltd. v. Shah Mahendrakumar And Co. (Exports) Pvt. Ltd.
IN THE HIGH COURT OF JUDICATURE
AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMMERCIAL SUMMARY SUIT NO.1332 OF 2018 (UNDER ORDER XXXVII RULE 2 OF THE CIVIL PROCEDURE CODE) Intercont Freight Liners (P) Ltd.
) A Company registered under Companies ) Act, 1956 having its registered office at ) 205, M.K. Bhavan, 300, Shaheed Bhagat ) Singh Road, Fort, Mumbai - 400001 ) ...Plaintiff
Versus
Shah Mahendrakumar & Co. (Exports) Pvt. Ltd.) A Company registered under Companies Act, ) l 1956 having its registered office at ) i 257/65, Narshi Natha Street ) 101, New Anant Bhuvan, Masjid Bunder ) Mumbai 400 009 ) ... Defendant CONSENT TERMS 1.
The aforesaid matter is filed by the Plaintiff 8b , for recovery outstanding Rs.
1,26,81,870/- for the services provided by the Plaintiff to the Defendant of exporting the cargo/goods to destinations as indicated by the Defendant.
2.
The present dispute arises out of a Deed of Agreement Cum Acknowledgment dated 7th July, 2015 pursuant to which Parties had settled their disputes referred to therein for a lumpsum Rs.
2,50,00,0001- (Rupees Two Crores Fifty Lakhs Only) which was to be payable as under:- i.
Rs.
1,23,18,1301to be paid under the consent terms filed in the proceedings pending before the Metropolitan Magistrate Court at Mazgaon bearing Complaint no.
5608166/4412014.
ii.
Rs. 1,26,81,8701to be in quarterly installments of Rs.
7,50,0001-.
3..
The hereby acknowledges and confirms that till date out total Rs.
2,50,00,0001-, the Defendant has paid an amount of Rs.
45,50,0001-.
4.
During pendency of present Suit, negotiations took place between the parties herein to amicably settle the dispute for entire outstanding amount of Rs. 2,04,50,0001-. After various negotiations between Defendant, the Parties have agreed to settle their dispute as follows:- a.
By consent of the Plaintiff and the Defendant, it is hereby agreed, recorded declared that Plaintiff hereby expressly agrees and accepts the of Rs. 1,50,00,0001- (Rupees One Crore and Fifty Lakhs Only) as full and final settlement towards settlement dispute Commercial Summary Suit No. 1332 of 2018.
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b.
It is further agreed, recorded and declared that the shall pay the aforesaid of Rs.
1,50,00,000/- shall be paid by the Defendant to the on or before 6th August, 2019.
The Defendant shall pay the aforesaid amount through direct NEFT payments to be credited to account of the Plaintiff.
c.
Agreed, recorded and declared that the shall on payment being made withdraw all the litigations filed and pending against the Defendant and/or its directors both civil and criminal in all the Courts Law, Forum or Authorities throughout India, in respect of the subject dispute mentioned in the aforesaid matter.
d.
Agreed, recorded and declared that the shall not initiate and/or file any fresh litigation, including both civil and/or criminal, in all the Courts of Law, Forum and or Authorities throughout India, in respect subject dispute mentioned in captioned Complaint.
e.
Agreed, recorded and declared that in the event the Defendant fails to pay the agreed Rs. 1,50,00,000/- on or before 6th August, then, the Defendant shall be liable to pay the entire outstanding amount of Rs. 2,04,50,000/- along with the interest @ 12% p.a. to the Plaintiff from the date of default i.e. 6th July 2015 till the date of payment thereof.
5.
In the event of default, the Defendant submits himself to a decree of Rs. 2,04,50,000/- along with interest @ 12% '\ \ y- ~~
from 6th July 2015. The drawn up decree be dispensed with.
6.
The Plaintiff and the Defendant through its Directors duly authorized have agreed and consented to the aforesaid by signing below.
7.
The above Suit is disposed of in terms of the Consent terms and the Court fee as per the rules be returned to the in an event no default occurs on part of the Defendant in terms of clause 4(a) and 4(b) above. Dated this 06th day of March, 2019 For Intercont Freight Liners (P) Ltd (Mr. k~, Authorized Signatory) Advocate for Plaintiff For India Law Alliance For Shah Mahendrakumar & Co.
(Exports) Pvt. Ltd.
:{.
l - h, ,1\ v ,-,~\_.... .oE'.~ , Partner (Mr. Ajit Shah, Director) Advocate for Defendant
:KAHIBUNI : +91 22 23738247 SUBJECT TO MUrvlBAI JURISDICTION ONLY Tel.: +91 2223735036/23700705 E-mail:
smco@bom7.vsn.l.net.in Website:
www.smkco.com ~AH MAHENDRAKUMAR & CO. (EXPORT) PVT. I.TD.
(GOVERNMENT OF INDIA RECOGNISED TRADING HOUSE) f. Office:
101, NEW ANAND BHUVAN, 2571265, IVARSHI NATHA STREET, MUMBAI-400
009. (INDIA) EXTRACT OF MINUTES OF THE BOARD MEETING OF BOAnD OF DIRECTORS OF SHAJ-I MAHENDRAKUMAR AND COMPANY mXPORT) PRIVATELIMITED, HELD ON 21-11-18 AT (11 AM Hns AT 101 New Anant Bhuvan, 257/65 Narshi Nntha Street, l\1umbai-40()009 "RESOLVED THAT Mr. Ajit Shah .Dircctor of the Companv be and is hcrcbv authorised to sign file Vakalatnama, Written Statement Affidavit in Reply.
Leave to defend, Affidavit in Rejoinder, Affidavit in Examination in Chief.
Consent Terms and/or any other documents I pleadings as may be required on behalf of the Company to represent Company before any court of law and/or any authority as provided by law and to do all other acts incidental or ancillary to the proceedings arising out of the Commercial Summary Suit No.
1332 of 2018, filed by Mis.
lntcrcont Freight Liners (Private) Limited Shah Mahendrakumar and Company (Export) Private Limited before the Hori'blc Bombay High Court do all such acts, deeds, matters and things as may be necessary.
proper expedient to give effect to this resolution.
Datc:21-11-18 Place:
Mumbai FOR SHAH MAHENRAKUMAR & CO (EXPORT) PVT. LTD Director.
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~ M\I~~ pe/f!ld~ i ____ ~~Lblm
IN THE HIGH COURT OF
JUDICATURE AT BOMBAY O.O.C.J COMMERCIAL SUMMARY SUIT NO.1332 OF 2018 Intercont Freight Liners (P) Ltd .... Plaintiff Shah Mahendrakumar & Co.
(Exports) Pvt. Ltd...
,Defendant ~l~ 1;
;/ ----------------- ----------------- CONSENT TERMS ----------------- ----------------- Dated this 06th day of March, 2019 ) L Adv. Mandar Soman Advocate for Plaintiff India Law Alliance Advocate for Defendant