Authority: Supreme Court of India, Civil Appellate Jurisdiction (Bench of Hon'ble Mr. Justice K.V. Viswanathan and Hon'ble Mr. Justice Arun Palli)
Order Date: 31 August 2026
Case Overview
- Parties: Appellant Sri Prashanth Shetty vs. Respondent M/s. Padma Finance (R) Barkur & Anr.
- Civil Appeal No.12149 of 2026 arising out of S.L.P.(Civil) No.7134 of 2024, which challenged the High Court of Karnataka judgment dated 19‑12‑2023 in RSA No.1066/2023.
- The dispute was listed before the Supreme Court Special Lok Adalat under the Samadhan Samaroh, 2026, but the matter could not be heard there and was subsequently listed before the Court.
- Settlement agreement dated 20 August 2026, originally filed with the District Legal Services Authority, Udupi, was sent to the Court registry via email.
- Settlement terms: Total settlement amount Rs 9,00,000 (Rupees Nine Lakhs only). The appellant has already deposited Rs 6,32,500 (Rupees Six Lakhs Thirty‑Two Thousand Five Hundred Only) with the Supreme Court. The respondent is entitled to receive this amount together with accrued interest after verification.
- The appellant agreed to pay the balance amount of Rs 2,67,500 (Rs 9,00,000 minus Rs 6,32,500) within three months from the date of release of the deposited amount.
- Both parties affirmed that there are no further dues and that all accounts between them are finally settled.
Final Outcome
- The Supreme Court recorded the settlement and ordered that the deposited sum of Rs 6,32,500, along with accrued interest, be released to Respondent No.1 through its Managing Partner after due verification.
- The appellant must pay the remaining balance of Rs 2,67,500 within three months of the release.
- The settlement forms part of this order; the appeal is disposed of as settled, and no further applications remain pending.
Topics: Legal Settlement, Civil Appeal, Supreme Court