Harvinder Singh Bhasin & Ors vs. M/S Jammu & Kashmir Bank Limited

Held

The Court held that in view of the submissions made by the learned counsel for the plaintiffs and the settlement arrived at between the parties, the plaintiffs were granted liberty to unconditionally withdraw the suit. The settlement terms, including the payment of ₹4,19,46,250/- (less TDS), continuation of business operations for four months at ₹14,00,700/- plus GST per month, and the defendant's agreement to pay interest at 10% per annum on the evaluated rent and 50% of the applicable GST service tax, were acknowledged. The Court directed that the settlement be filed on record and that the court fee be refunded as per law. The suit was accordingly dismissed as withdrawn.

Facts

The plaintiffs, Harvinder Singh Bhasin & Ors., filed a suit (CS(OS) 67/2016) against the defendant, M/s Jammu & Kashmir Bank Limited. The parties have amicably settled the matter. As per a letter dated September 5, 2018, from the defendant bank, a payment of ₹4,19,46,250/- will be made after deducting TDS. The business operations are to continue from the premises for four months from July 27, 2018, at a monthly rate of ₹14,00,700/- plus GST. The defendant bank agreed to pay interest at 10% per annum on the evaluated rent amount and 50% of the applicable GST service tax. The settled amount is included in the ₹4,19,46,250/-, which the defendant will pay within two days.

Key Issues

1. Whether the suit can be dismissed as withdrawn based on the amicable settlement reached between the parties, including the terms of payment and continuation of business operations. Contentions: Petitioner/Plaintiffs: Submitted that the matter has been amicably settled between the parties and sought liberty to unconditionally withdraw the suit. Revenue/State: No arguments recorded for the revenue or state as this is a civil suit between private parties concerning a settlement, not a dispute involving tax authorities under GST law.