MEMORANDUM OF SETTLEMENT
THIS ‘MEMORANDUM OF SETTLEMENT’ is made
on day of July 2026 at Durgapur.
BETWEEN
(1) SRI AVIJIT ADHIKARI (having Aadhar No. 9492 9950 8362), son of Late Amit
Adhikari, aged about 39 years, by religion Hindu, by Occupation- Service,
residing at 32, Goswami Para, Kolkata (MC), Kolkata, Joka, West Bengal – 700104
&
(2) SMT. BARNA CHAKRABORTY ADHIKARI (having Aadhar No. 7847 9583 1838), wife of Sri
Avijit Adhikari, aged about years, by
religion Hindu, by occupation ,
residing at32, Goswami Para, Kolkata (MC), Kolkata, Joka, West Bengal – 700104,
hereinafter collectively referred to as the parties of the FIRST PART.
AND
1.
SHRI. BIBEK RANJAN KESH(having Aadhar No. 6902 6692 1769), son of Joy Narayan
Kesh, aged about 34 years, by religion Hindu, by occupation - Business,
residing at 247, Nehru Avenue, C-Zone, Durgapur- 713205;
2.
SHRI. JOY NARAYAN KESH(having Aadhar No. 6902 6692 1769), son of Joy Narayan
Kesh, aged about 34 years, by religion Hindu, by occupation - Business,
residing at 247, Nehru Avenue, C-Zone, Durgapur- 713205;
3.
SMT. TRISHNA KESH(having Aadhar No. 6902 6692 1769), son of Joy Narayan
Kesh, aged about 34 years, by religion Hindu, by occupation - Business,
residing at 247, Nehru Avenue, C-Zone, Durgapur- 713205, hereinafter referred
to as the parties of the SECOND PART.
The
Parties of the First Part and the Parties of the Second Part are hereinafter
collectively referred to as the “Parties”.
WHEREAS, the First Part,
Sri Avijit Adhikari, had borrowed an unsecured loan of Rs. 5,00,000/- (Rupees
Five Lakhs Only) in cash from the Second Part, Shri Bibek Ranjan Kesh, on
16.10.2023, with an undertaking to repay the said loan on or before 16.10.2025.
However, despite the expiry of the agreed period, the First Part failed to
repay the said loan in breach of his undertaking.
AND WHEREAS, towards discharge
of the aforesaid legally enforceable debt and liability, the First Part issued
Cheque No. 014412 dated 16.10.2025 for a sum of Rs. 5,00,000/- (Rupees Five
Lakhs Only) drawn and duly signed by him in favour of the Second Part. Upon
presentation of the said cheque for encashment by the Second Part, the same was
dishonoured and returned unpaid vide Cheque Return Memo dated 14.01.2026 with
the endorsement "Payment Stopped by Drawer."
AND WHEREAS, the First Part,
Sri Avijit Adhikari, had borrowed an unsecured loan of Rs. 9,50,000/- (Rupees
Nine Lakhs and Fifty Thousand Only) from the Second Part, Shri Joy Narayan
Kesh, by way of RTGS on 18.10.2023, with an undertaking to repay the said loan
on or before 18.10.2025. However, despite the expiry of the agreed period, the
First Part failed to repay the said loan in breach of his undertaking.
AND WHEREAS, towards discharge
of the aforesaid legally enforceable debt and liability, the First Part issued two
cheques bearing Cheque No. 014415 dated 05.01.2026 for a sum of Rs. 5,50,000/-
(Rupees Five Lakhs and Fifty Thousand Only); andCheque No. 014413 dated
05.01.2026 for a sum of Rs. 4,00,000/- (Rupees Four Lakhs Only)in favour of the
Second Part. Upon presentation of the aforesaid cheques for encashment by the
Second Part, both the cheques were dishonoured and returned unpaid vide Cheque
Return Memos dated 06.02.2026, bearing the endorsement "Payment Stopped by
Drawer."
AND WHEREAS,
the Party of the First Part, Sri
Avijit Adhikari, had further borrowed an unsecured loan of Rs. 3,00,000/- (Rupees Three Lakhs Only)
from the Party of the Second Part, Shri
Bibek Ranjan Kesh, by way of RTGS on 22.01.2024,
upon the express understanding and undertaking that the said loan would be
repaid in full on or before 22.02.2025;
AND WHEREAS,
in faithful compliance with the said undertaking, the Party of the First Part
duly repaid the entire aforesaid loan amount of Rs. 3,00,000/- (Rupees Three Lakhs Only) in cash to the Party of the Second
Part, Shri Bibek Ranjan Kesh, within
the stipulated and agreed period, and the Party of the Second
Part duly accepted and acknowledged the receipt thereof without raising any
protest, objection or reservation whatsoever;
AND WHEREAS,
by virtue of such complete repayment and acceptance, the said loan transaction
stood fully satisfied, discharged and extinguished, leaving no outstanding amount, debt, liability, claim
or financial obligation whatsoever in respect of the said loan,
and accordingly, the Parties unequivocally acknowledge and declare that the
aforesaid loan of Rs.
3,00,000/- does not form
part of the present settlement amount, nor shall either Party
hereafter assert or maintain any claim, demand or cause of action arising out
of or relating to the said loan transaction.
AND WHEREAS, the First Part,
Smt. Barna Chakraborty Adhikari, had borrowed an unsecured loan of Rs.
10,50,000/- (Rupees Ten Lakhs and Fifty Thousand Only) from the Second Part,
Smt. Trishna Kesh, by way of RTGS on 18.10.2023, with an undertaking to repay
the said loan on or before 18.10.2025. However, despite the expiry of the
agreed period, the First Part failed to repay the said loan in breach of her
undertaking.
AND WHEREAS,
at the time of advancing the aforesaid financial assistance, the Parties of the
Second Part, with a view to securing the repayment of the amounts allegedly
advanced, represented and insisted that certain original title documents,
personal identification documents and signed instruments belonging to the
Parties of the First Part be deposited with them merely as collateral security,
assuring and unequivocally representing that the same would be kept in safe
custody solely by way of security and would be returned immediately and
unconditionally upon repayment of the amounts advanced by the Parties of the
Second Part. Reposing complete faith and confidence in such representations and
assurances, and believing the same to be true and bona fide, the Parties of the
First Part, without any intention of creating any transfer, charge, mortgage,
lien or other proprietary interest in favour of the Parties of the Second Part,
handed over possession of the following original documents and personal
belongings purely as security, namely:—
(a)
the Original Deed of
Conveyance, being Deed No. I-3823 of 2020 dated 14th March,
2020, relating to the
immovable property of the Parties of the First Part measuring approximately 3 (Three) Cottahs,
more or less, together with all rights, title and interest appurtenant thereto;
(b)
the Original Passport
of Sri Avijit Adhikari,
bearing Passport No. W7413494,
and the Original Passport
of Smt. Barna Chakraborty Adhikari,
bearing Passport No. W8637741,
both of which constitute valuable personal identity and travel documents issued
by the competent authority of the Government of India; and
(c)
several signed but undated
cheques drawn on the
respective bank accounts of the Parties of the First Part, which were delivered
only as additional collateral
security and solely with the
understanding that the same would neither be presented nor otherwise negotiated
except in accordance with the mutual understanding between the Parties.
AND WHEREAS,
it was expressly understood, agreed and assured by the Parties of the Second
Part that the aforesaid original title deeds, passports and security cheques
would remain only in their temporary custody as collateral security, without
conferring upon them any ownership, possessory right, charge, lien or
independent entitlement whatsoever, and that immediately upon repayment and
satisfaction of the financial obligations of the Parties of the First Part, the
said documents and security instruments would be returned forthwith in the same
condition in which they had been entrusted.
AND WHEREAS,
the Parties acknowledge that the delivery of the aforesaid documents and
instruments was made solely on account of the trust and confidence reposed by
the Parties of the First Part in the assurances extended by the Parties of the
Second Part, and such delivery was never intended to constitute any absolute
transfer, assignment, pledge or relinquishment of the rights of the Parties of
the First Part over the said documents, property or bank instruments. The
Parties further agree that, in terms of the present settlement, the Parties of
the Second Part shall simultaneously with the receipt and realization of the
entire settlement amount, or within such time as may be mutually agreed, return
and hand over to the Parties of the First Part all the aforesaid original
documents, passports and unused security cheques, free from any endorsement,
encumbrance, claim or objection whatsoever, thereby completely restoring the
Parties of the First Part to their original position.
AND WHEREAS, towards discharge
of the aforesaid legally enforceable debt and liability, the First Part issued two
cheques bearing Cheque No. 000006 dated 05.01.2026 for a sum of Rs. 5,00,000/-
(Rupees Five Lakhs Only); andCheque No. 000007 dated 05.01.2026 for a sum of
Rs. 5,50,000/- (Rupees Five Lakhs and Fifty Thousand Only) in favour of the
Second Part. Upon presentation of the aforesaid cheques for encashment by the
Second Part, both the cheques were dishonoured and returned unpaid vide Cheque
Return Memos dated 21.01.2026, bearing the endorsement "Payment Stopped by
Drawer."
AND WHEREAS, being aggrieved by
the acts and conduct of the parties of the First Part, including the failure to
honour the financial commitments undertaken by him/her and the consequent
dishonour of the cheques issued towards discharge of the legally enforceable
debt, the Parties of the Second Part lodged a First Information Report (FIR)
being No. 456 of 2025 dated 02.11.2025 at the jurisdictional Police Station for
offences punishable under Sections 318(4), 319(2), 316(2) and 3(5) of the
Bharatiya Nyaya Sanhita, 2023. Pursuant thereto, criminal proceedings have been
initiated and are presently pending before the Learned Additional Chief
Judicial Magistrate at Durgapur, Paschim Bardhaman.
AND WHEREAS, being further
aggrieved by the dishonour of the aforesaid cheques, the Parties of the Second
Part instituted complaint cases under Section 138 of the Negotiable Instruments
Act, 1881, being C.R. Case No. 287 of 2026, pending before the Court of the
Learned 2nd Judicial Magistrate at Durgapur; C.R. Case No. 313 of 2026 and C.R.
Case No. 314 of 2026, both pending before the Court of the Learned 3rd Judicial
Magistrate at Durgapur; and C.R. Case No. 315 of 2026 and C.R. Case No. 316 of
2026, both pending before the Court of the Learned 2nd Judicial Magistrate at
Durgapur.
AND WHEREAS, the Parties of the
First Part have filed a Criminal Revisional Application, being C.R.R. No. 2490
of 2026, before the Hon'ble High Court at Calcutta, challenging the proceedings
arising out of the aforesaid disputes, and the said revisional application is
presently pending adjudication.
AND NOW WHEREAS, during the
pendency of the aforesaid proceedings, the Parties of the First Part and the
Parties of the Second Part, after mutual negotiations and discussions, have
voluntarily, amicably and without any coercion, undue influence or
misrepresentation, resolved all their disputes and differences and have agreed
to settle the same finally and conclusively upon the terms and conditions
hereinafter appearing.
AND WHEREAS,
although the aggregate amount of the financial transactions between the
Parties, together with the claims arising therefrom, was substantially higher,
and various civil and criminal proceedings had already been initiated and were
pending before the competent Courts on account of the disputes between them,
the Parties, with a sincere desire to put a quietus to all their disputes,
differences, claims and counter-claims, entered into a series of amicable
discussions and negotiations with the intervention of their respective
well-wishers, friends and family members. After prolonged deliberations, both
the Parties, acting voluntarily, consciously and with full understanding of
their respective legal rights and obligations, arrived at a comprehensive and
final settlement in order to avoid further litigation, uncertainty, inconvenience,
expenditure of time and costs, and to restore cordiality between them.
AND WHEREAS,
in the spirit of compromise and with the intention of bringing a complete,
final and irrevocable end to all disputes arising out of the aforesaid
financial transactions and the proceedings pending before various Courts, the
Parties have mutually agreed that the Parties of the First Part shall pay, and
the Parties of the Second Part shall accept, a consolidated and lump sum amount
of ₹25,00,000/- (Rupees Twenty-Five Lakhs
Only) as the full and final settlement amount,
notwithstanding the aggregate value of the original claims, alleged
liabilities, interest, costs, damages or any other incidental claims that may
otherwise have been asserted by either Party.
AND WHEREAS,
the Parties expressly acknowledge and declare that the aforesaid settlement
amount of ₹25,00,000/- (Rupees Twenty-Five Lakhs
Only) has been arrived at
solely on account of mutual concessions, reciprocal promises and bona fide
negotiations, without admission of liability, fault or wrongdoing by either
Party, and with the sole object of purchasing peace and avoiding further
litigation. The Parties further agree that the acceptance of the said amount
shall constitute a complete accord and satisfaction of all monetary claims,
demands, liabilities and obligations arising out of or connected with the
transactions forming the subject matter of the present disputes.
AND WHEREAS,
upon payment and realization of the aforesaid sum of ₹25,00,000/- (Rupees Twenty-Five
Lakhs Only) in accordance with
the terms of this Memorandum of Settlement, the Parties of the Second Part
shall have no further monetary or other claim whatsoever against the Parties of
the First Part in respect of the transactions referred to herein, and the
Parties mutually covenant that the said settlement shall operate as a full, final and binding discharge
of all rights, claims, demands, causes of action and liabilities, whether
existing, accrued, contingent or otherwise, arising directly or indirectly out
of the subject matter of the present disputes, save and except the obligations
specifically preserved under this Memorandum of Settlement.
AND WHEREAS,
in terms of the mutual settlement arrived at between the Parties and in full
and final discharge of the obligations undertaken by the Parties of the First
Part under this Memorandum of Settlement, the Parties of the First Part shall pay,
and the Parties of the Second Part shall
receive, the entire agreed
settlement amount of ₹25,00,000/- (Rupees Twenty-Five Lakhs
Only) by way of RTGS
on the 4th day of August, 2026,
in the manner and proportions mutually agreed between the Parties. The Parties
further agree that the said payments shall, upon due credit and realization in
the respective bank accounts of the Parties of the Second Part, constitute
complete and irrevocable satisfaction and discharge of the monetary obligations
of the Parties of the First Part under this Memorandum of Settlement, whereupon
the Parties of the Second Part shall become entitled and obligated to perform
all reciprocal covenants and obligations stipulated herein, including, inter
alia, the withdrawal and/or disposal of the pending criminal and cheque
dishonour proceedings, the return of all original title deeds, passports,
security cheques and other documents belonging to the Parties of the First
Part, and the execution of all necessary petitions, affidavits, no-objection
statements and other documents required for giving full, complete and effective
implementation to the present Memorandum of Settlement. The details of such
payments are tabulated hereinbelow for the sake of clarity and record;
|
Sl.
No. |
Payer
(First Part) |
Payee
(Second Part) |
Mode
of Payment |
Date
of Payment |
Amount
(₹) |
|
1. |
Smt.
Barna Chakraborty Adhikari |
Smt.
Trishna Kesh |
RTGS transferred to her Bank
Account |
04.08.2026 |
10,50,000/- |
|
2. |
Shri
Avijit Adhikari |
Shri
Joy Narayan Kesh |
RTGS transferred to his Bank
Account |
04.08.2026 |
9,50,000/- |
|
3. |
Shri
Avijit Adhikari |
Shri
Bibek Ranjan Kesh |
RTGS transferred to his Bank
Account |
04.08.2026 |
5,00,000/- |
|
Total
Settlement Amount Paid |
₹25,00,000/- |
AND WHEREAS,
the Parties of the Second Part hereby unequivocally admit, acknowledge and
confirm that they have duly received and realized the aforesaid aggregate sum
of ₹25,00,000/- (Rupees Twenty-Five Lakhs
Only) in their respective
bank accounts through RTGS on 4th August, 2026,
and that the said payments constitute the entire
settlement amount agreed upon under
this Memorandum of Settlement. The Parties of the Second Part further declare
that, upon receipt and realization of the aforesaid payments, nothing further remains due, payable or
recoverable from the Parties of
the First Part in respect of the financial transactions forming the subject
matter of the present settlement, save and except the mutual obligations
relating to withdrawal/disposal of the pending proceedings and return of the
original documents and security cheques in accordance with the terms of this
Memorandum of Settlement.
AND WHEREAS,
the Parties further agree and declare that the aforesaid RTGS transfers shall
constitute conclusive proof of payment and discharge of the monetary
obligations of the Parties of the First Part under this Memorandum of
Settlement, and the Parties of the Second Part shall, upon such realization, be
bound to perform all reciprocal obligations stipulated herein, including
withdrawal or disposal of the pending criminal and cheque dishonour
proceedings, return of all original title deeds, passports, security cheques
and other documents belonging to the Parties of the First Part, and execution
of all necessary applications, affidavits, no-objection statements and other
documents required to give full and complete effect to this settlement.
NOW THIS MEMORANDUM OF SETTLEMENT WITNESSETH AND IT
IS HEREBY AGREED BY AND BETWEEN THE PARTIES HERETO AS FOLLOWS:
1. Upon the First Part repaying the entire settlement
amount in terms of this Memorandum of Settlement and upon realization thereof
by the Parties of the Second Part, the Parties of the Second Part shall take
all necessary and appropriate steps in accordance with law, including filing
appropriate applications and affidavits before the competent Court(s), for
bringing to an end the criminal proceedings arising out of FIR No. 456 of 2025
dated 02.11.2025, registered under Sections 318(4), 319(2), 316(2) and 3(5) of
the Bharatiya Nyaya Sanhita, 2023, presently pending before the Learned
Additional Chief Judicial Magistrate at Durgapur, Paschim Bardhaman.
2. Immediately upon receipt,
credit and irrevocable realization of the entire settlement amount of ₹25,00,000/- (Rupees Twenty-Five Lakhs Only)
in the respective bank accounts of the Parties of the Second Part, the Parties
of the Second Part shall be under a binding and irrevocable obligation to
faithfully perform all the reciprocal covenants, assurances and obligations
undertaken by them under this Memorandum of Settlement. Without prejudice to
the generality of the foregoing, the Parties of the Second Part shall, at their
own costs and without causing any delay or impediment whatsoever, take all
necessary, consequential and effective steps in accordance with law for giving
full effect to the present settlement, including but not limited to;
(a)
filing appropriate petitions, applications, affidavits, compromise petitions,
consent terms, no-objection statements and all other necessary pleadings before
the competent Courts for withdrawal, compounding, quashing, disposal and/or
termination of all pending criminal proceedings, proceedings under Section 138 of the Negotiable Instruments
Act, 1881, and all other
proceedings arising out of or connected with the transactions forming the
subject matter of this Memorandum of Settlement;
(b)
extending their complete cooperation before every Court, Tribunal,
Investigating Agency or other competent authority, including by remaining
personally present whenever so directed, affirming affidavits, executing
vakalatnamas, filing written consents and making statements in Court, so that
the pending proceedings may be brought to a lawful, effective and expeditious
conclusion;
(c)
simultaneously returning to the Parties of the First Part, in their original
condition and free from any claim, lien, charge, encumbrance or objection
whatsoever, all original documents, title deeds, passports, signed security
cheques, and every other original document, instrument or personal belonging
entrusted by the Parties of the First Part to the Parties of the Second Part by
way of security or otherwise, including but not limited to the Original Deed of
Conveyance, the Original Passports of the Parties of the First Part and all
undated security cheques;
3.
The
Parties of the Second Part further expressly acknowledge and undertake that
upon realization of the entire settlement amount, no monetary claim, demand, right, title,
interest or cause of action whatsoever shall survive
against the Parties of the First Part in relation to the transactions covered
by this Memorandum of Settlement, and that the present settlement shall operate
as a full, final, absolute
and irrevocable accord and satisfaction
of all disputes and claims between the Parties arising out of the said
transactions.
4.
Upon
receipt and realization of the entire settlement amount, the Parties of the
Second Part shall file appropriate petitions/applications for withdrawal of the
proceedings under Section 138 of the Negotiable Instruments Act, 1881being C.R.
Case No. 287 of 2026, pending before the Court of the Learned 2nd Judicial
Magistrate at Durgapur; C.R. Case No. 313 of 2026 and C.R. Case No. 314 of
2026, both pending before the Court of the Learned 3rd Judicial Magistrate at
Durgapur; and C.R. Case No. 315 of 2026 and C.R. Case No. 316 of 2026, both
pending before the Court of the Learned 2nd Judicial Magistrate at Durgapur.
5.
Upon
the First Part making payment of the entire settlement amount in terms of this
Memorandum of Settlement and upon realization thereof by the Parties of the
Second Part, the Parties of the First Part shall file appropriate applications
before the Hon'ble High Court at Calcutta for withdrawal of, or for disposal
of, C.R.R. No. 2490 of 2026 in terms of the present Memorandum of Settlement,
and shall not press any reliefs sought therein. The Parties of the Second Part
shall extend all necessary cooperation, including filing affidavits or giving
consent, if so required by the Hon'ble High Court, for effective withdrawal or disposal
of the said revisional application.
6.
The
First Part shall repay a total sum of Rs. 25,00,000/- (Rupees Twenty-Five Lakhs
Only) to the Parties of the Second Part on or before 10th August,
2026, or on such extended date as may be mutually agreed in writing by the
Parties. The obligations of the Parties of the Second Part under Clauses 1 and
2 shall arise only upon receipt and realization of the entire aforesaid amount.
7.
The
Parties undertake to extend their full cooperation to each other and shall
remain personally present before the respective Courts, whenever so required, for effective disposal of the withdrawal applications
and to give full effect to this
Memorandum of Settlement.
8.
Subject
to due performance of the terms of this Memorandum of Settlement, the Parties
declare that all disputes, claims, demands, allegations, counter-allegations
and causes of action arising out of or connected with the transactions forming the
subject matter of the aforesaid proceedings shall stand fully, finally and
irrevocably settled.
9.
Upon
completion of the obligations contained herein and the withdrawalof the
aforesaid proceedings, as the case may be, none of the Parties shall institute,
initiate, maintain or prosecute any civil, criminal or other legal proceeding
against the other in respect of the same cause of action or the transactions
forming the subject matter of the aforesaid proceedings.
10.
The
Parties further agree that upon completion of the settlement and termination of
all the aforesaid proceedings, they shall part ways amicably and shall not
interfere with, harass or disturb each other's personal or professional lives
in any manner whatsoever.
11.
The
Parties declare that this Memorandum of Settlement has been executed
voluntarily, out of their own free will and volition, without any coercion,
undue influence, fraud or misrepresentation, after fully understanding the
nature, contents, legal implications and consequences hereof.
12.
This
Memorandum of Settlement has been executed in two original counterparts, each
of which shall be deemed to be an original, with one counterpart being retained
by the Parties of the First Part and the other by the Parties of the Second
Part.
13.
This
Memorandum of Settlement shall be governed by and construed in accordance with
the laws of India. Subject to any statutory requirement to the contrary, any
dispute concerning the interpretation, implementation or enforcement of this
Memorandum of Settlement shall be subject to the jurisdiction of the competent
Courts at Durgapur, Paschim Bardhaman.
IN WITNESS WHEREOF both the parties have agreed and signed this
memorandum of settlement on the day
of July 2026, at Durgapur and above written in the presence of the following
witnesses.
WITNESSES:
1.
2.
SIGNATURES OF THE FIRST PART
1.
2.
SIGNATURE OF THE SECOND PART
No comments:
Post a Comment