Authority: Supreme Court of India (Special Leave Petition proceedings)

Order Date: 23-08-2026

Case Overview

  • Parties: Petitioner – St. Alfred Education Trust; Respondent – M/S KONE Elevator India Pvt. Ltd.
  • Proceedings: The dispute originated from a recovery suit filed by the respondent (CS No.626/2006) on 24‑04‑2009, resulting in an ex‑parte decree. Subsequently, the respondent filed Execution Petition No.202/2018 seeking recovery of Rs 48,20,880.
  • Settlement: The parties executed a Settlement Deed on 13‑Aug‑2026. Key terms:

1. Respondent agreed to accept Rs 35,00,000 as full and final settlement.

2. Petitioner paid Rs 10,00,000 to respondent via two cheques, receipt acknowledged.

3. Respondent is permitted to withdraw Rs 25,00,000 already deposited with the Madras High Court; interest on this deposit will be payable to the petitioner.

4. Upon withdrawal, respondent will pay the accrued interest to the petitioner and withdraw the execution proceedings.

5. The principal amount of Rs 25,00,000 deposited by the petitioner with the Madras High Court shall be transferred to the respondent; any interest accrued shall be paid separately to the petitioner.

Final Outcome

  • The Special Leave Petition (No.17689/2024) is disposed of in accordance with the settlement terms. The respondent will receive the Rs 25,00,000 principal, the petitioner will receive the interest, and the execution proceedings will be withdrawn.

Topics: Legal Settlement, Corporate Dispute