Raghavendra and Shyam vs The State and K.S. Mari

B.V. Pinto

These petitions are filed seeking to quash the proceedings in Crime No.266/2011 of Nanjangud Rural Police Station, registered on 11.08.2011

for the offences under Sections 363 and 392 IPC.

It is the case of the complainant who is the second respondent in these cases that the complainant is the owner of the tractor bearing No.KA-

09-T-4427, which was pledged with the petitioner - Mahindra and Mahindra Finance Services Limited and a sum of Rs.2,93,310/- was obtained

as loan from the said finance company. Since the complainant did not honour the commitment in so far as the repayment of the loan is concerned,

the vehicle was seized by the said finance company consequent upon which the complainant has tiled a complaint of robbery and kidnap before the

police. The petitioner has seized the vehicle and the same is in their custody.

Heard Sri K.S.N.Karanth, learned Counsel for the petitioners in both cases and Sri T.R.Subbanna learned Senior Counsel for the second

respondent in Crl.P.No.4644/2011 and Sri Vijaya Kumar Majage learned HCGP for the respondent - State.

It is submitted by both the parties that the issue is settled between the parties and it is agreed that respondent No.2 shall pay a sum of Rs.

1,00,000/- being the total amount of loan inclusive of interest to the petitioner - finance company and a sum of Rs. 57,690/-is paid by demand

draft. Learned Counsel for the second respondent undertakes to pay the balance amount within one month from today. It is further agreed that the

tractor bearing No.KA-09-T-4427 shall be released to the custody of the complaint/Respondent No.2 forthwith. It is further agreed that in the

case of failure to pay the balance amount by the second respondent, the petitioner is at liberty to take possession of the vehicle again. It is also

agreed that the arbitration petition instituted by the second respondent shall be withdrawn.

Having regard to the fact that the matter has been settled between the parties and the issue is commercial in nature, the petitions are be allowed

on the following conditions:-

a. That the second respondent agrees to pay a sum of Rs. 1.00,000/ to the petitioner out of which Rs.57,690/- is paid by demand draft and the

second respondent undertakes to pay the balance of Rs.42,310/- to the petitioner on or before 05.01.2012.

b. That the petitioner undertakes to return the vehicle bearing No.KA-09-T-4427 to the respondent No.2 forthwith.

c. That the respondent No.2 further undertakes to pay a sum of Rs.42.310 /-to the petitioner on or before 05.01.2012 failing which the liberty is

reserved to the petitioner to repossess the vehicle.

d. That the petitioner undertakes to withdraw the arbitration petition pending in respect of the respondent No.2.

e. Proceedings in Crime No.266/2011 of Nanjangud Rural Police Station is hereby quashed.