Vinod Boob v. Dodballaur Spinning Mills Pvt. Ltd. & Anr.

1. The present Special Leave Petition has been preferred by the Petitioner-complainant challenging the impugned judgment and final order dated 22nd July, 2021 passed by the High Court of Karnataka at Bengaluru in Criminal Revision No.1169 of 2012, whereby the High Court has proceeded to set aside the conviction and sentence of the Respondentsaccused under Section 138 of the Negotiable Instruments Act, 1881 by setting aside the orders passed by the learned Additional Sessions Court as well as by the Court of learned Metropolitan Magistrate.

2. After some arguments, learned counsel for the parties pray for the following consensual order:- SLP (C) No.4017 of 2022 i. 20% of the amount deposited by the Respondents with the learned Additional Sessions Court along with accrued interest, if any, shall be released to the Petitioner forthwith. ii. An amount of Rs.9.50 lakhs shall be paid in 6 (six) equated bimonthly (every two months) installments by demand draft/RTGS mode by the Respondents to the Petitioner. iii. The aforesaid payment shall be without prejudice to the rights and contentions of the parties in the pending arbitration proceedings.

3. This Court is of the view that the aforesaid consensual terms are fair and reasonable. Accordingly, the Special Leave Petition is disposed of in the aforesaid terms. It is clarified that the present order shall have no impact/effect on the arbitration proceedings that are pending between the parties....…...……………….J. [DIPANKAR DATTA] ……………….J. [MANMOHAN] New Delhi; April 21, 2025