2018 (5) TMI 2162 - SCH - Indian Laws

Dishonour of Cheque - settlement arrived at between the parties - HELD THAT - The settlement as it forms a part of the order, makes it clear that the parties shall abide by the same and not create any impediment in its implementation. It is also agreed that as there is a settlement, this Court may quash the criminal proceedings initiated by the respondent against the appellant being FIR No. 239 dated 17.6.2007 instituted for the offences punishable under Sections 406, 420, 465, 467, 468, 471 and 120-B, IPC and FIR No. 43 dated 30.4.2016 for the offences punishable under Section 174-A, IPC, and also the Complaint Nos. 181 dated 30.5.2017 and 182 dated 30.5.2007 both instituted under Section 138 of the N.I. Act by the appellant against the respondent. All proceedings are accordingly quashed. As the FIRs and the complaint petitions have been quashed, the Passport of Iqbal Singh Sabharwal shall be returned to him - appeal disposed off.

Summary

Issues: Settlement agreement between parties, quashing of criminal proceedings, disposal of appeal

Settlement Agreement:
The Supreme Court dealt with a settlement agreement between the parties involved, outlining the terms and conditions agreed upon by both sides. The agreement detailed the transfer of land from the first party to the second party for a total consideration of Rs. 35 crores. It specified the payment schedule, responsibilities regarding ownership and possession of the land, and the quashing of pending litigations and proceedings. Both parties agreed to execute and register the sale deed within four weeks, with the second party bearing the expenses of registration. The agreement also included provisions for withdrawal of shares and joint filing before the Supreme Court.

Quashing of Criminal Proceedings:
In light of the settlement agreement, the Court quashed the criminal proceedings initiated by the respondent against the appellant. This included FIRs and complaint petitions related to various sections of the Indian Penal Code and the Negotiable Instruments Act. The Court emphasized that all proceedings were quashed due to the settlement reached between the parties, ensuring that there would be no impediments to the agreement's implementation. Consequently, the Passport of one of the parties was ordered to be returned.

Disposal of Appeal:
Following the quashing of criminal proceedings and the settlement agreement, the appeal was disposed of by the Supreme Court. The Court's decision was based on the resolution achieved between the parties, leading to the conclusion of the legal dispute. By disposing of the appeal, the Court recognized the settlement agreement and the mutual understanding between the parties, bringing an end to the litigation process.

This comprehensive analysis of the Supreme Court judgment highlights the key issues addressed, including the settlement agreement, quashing of criminal proceedings, and the final disposal of the appeal based on the resolution reached by the parties involved.