- (1.) The wife of one late Sh. Tarun Rastogi has come up with the above petition seeking transfer of the proceedings initiated by her mother-in-law for the grant of a Succession Certificate under Section 372 of Indian Succession Act, now pending on the file of Civil Court, Senior Division, Pune to the District Court, Moradabad, Uttar Pradesh.
(2.) This Court referred the parties to the Supreme Court Mediation Centre. Before the Mediator, the parties have entered into a Settlement Agreement dated 08.12.2020.
(3.) The Settlement Agreement read as under: i. The parties have agreed that they have under mentioned approximately Rs. 83,88,509/-, (Eighty Three Lakh Eighty Thousand Five Hundred and Nine Only), receivable from the insurance companies towards the policies taken by the deceased, amounts lying in the bank account of deceased, amount towards the life insurance of the deceased, detailed as under :- JUDGEMENT_24_LAWS(SC)2_2021_1.jpg JUDGEMENT_24_LAWS(SC)2_2021_2.jpg JUDGEMENT_24_LAWS(SC)2_2021_3.jpg Grand Total estimated: - Rs. 83,88,509/- (Eighty Three Lakhs Eighty Eight Thousand Five Hundred and Nine Only) approximately to be shared in ratio of 50:50 by both petitioner and respondent. The parties hereby agree to realize all the assets estimated at Rs. 83,88,509/- (Eighty Three Lakhs Eighty Eight Thousand Five Hundred and Nine Only) with joint efforts and put together amount receivable in existing Joint account of both parties in Andhra Bank Bhavdhan Pune branch as joint holders Veena Rastogi and Kriti Agarwal Account No. 258810100019519. The said Account to be reactivated by completing necessary formalities and submitting request by both the parties. The parties also agree that they will not withdraw or use this amount in any manner without each others written consent. (i)a. That an amount of Rs. 1,98,000/- (One Lakh Ninety Eight Thousand Only) has already been credited in the account of petitioner received from Tata AIA Life Insurance Company Limited which the petitioner agrees to pay 50% to the respondent after adjusting the share of liabilities. (i).b. That the deceased was part owner of Property No. A/1881/A, MDA Phase I, Ram Ganga Vihar Colony, Kanth Road, Moradabad-244001, having l/3rd share in this property, along with his mother and sister. Petitioner is entitled to l/6th share in the property left by the father of the deceased. Both the parties have submitted their valuation reports and they agree that the valuation of the property is Rs. 96.00.000/- (Ninety Six Lakhs Only) thus the l/6th share of the petitioner comes to an amount of Rs. 16,00,000/- (Sixteen Lakhs Only). Both the parties agree to the valuation report and that Rs.16 lakhs shall be paid finally by respondent to petitioner towards her right in house property after all recoveries are received from insurance companies, banks and from employer of deceased, and payment of amounts due towards liabilities, and upon execution and registration of Sale Deed in this respect. The Petitioner will transfer her share, right, title and interest in the said property to the Respondent by execution and registration of Sale Deed. The Petitioner will cooperate in execution and registration of the Sale Deed and also provide no objection certificate for transfer of her share to the Respondent and agrees not to claim any future right, title and interest in the said property. The Petitioner agrees that, she shall thereafter hand over, vacant and peaceful possession of the said property to the Respondent and have no claims and/or rights whatsoever, on the said property. (i)c. Deceased has left behind the under mentioned liabilities:- (i). Bajaj Finserv Pvt. Ltd. current outstanding Rs. 34,305/-(Thirty Four Thousand Three Hundred and Five Only) offered to be settled at Rs. 21,000/- (Twenty One Thousand Only) (ii). Payment towards SBI Credit Card current outstanding Rs. 41,185/- (Fourty One Thousand One Hundred and Eighty Five Only) offered to be settled at Rs. 10,000/- (Ten Thousand Only) (iii). Payment towards HDFC Credit Card current outstanding Rs. 64,000/- (Sixty Four Thousand Only) offered to be settled at Rs. 22,510/- (Twenty Two Thousand Five Hundred and Ten Only). (iv). Fullerton India Pvt. Ltd. Current outstanding Rs. 3,90, 000/-.Liabilities shall be divided in equal proportion between the parties to be shared in ratio of 50:50 by both petitioner and respondent. (i)d. Petitioner has agreed to pay an amount of Rs. 1,70,000/- (One Lakh Seventy Thousand Only) towards the cost of litigation to the respondent, as the respondent had to face litigation because of the two cases filed by the petitioner. (i)e. The figure of Rs. 16,00,000/- (Sixteen Lakhs Only) is agreed to be paid to the petitioner by respondent, towards her right in house property. (i)f. The Petitioner will obtain a formal letter of settlement offers from all lenders and process the settlement with immediate effect upon signing of this agreement. The above-mentioned amounts are indicative and actual amounts will depend on the formal settlement letter for liabilities mentioned from the respective creditors. The Petitioners shall obtain a closure letter /NOC from all lenders and the respondent shall provide her assistance, if required. (ii). Rs. 1,98,000/- (One Lakh Ninety Eight Thousand Only) already received by petitioner from Tata AIA Life Insurance Company Limited insurance company to be paid 50% share to respondent after adjusting the share of liabilities. (iii). Rs. 1,70,000/- (One Lakh Seventy Thousand Only) towards cost of litigation petitioner agrees to pay to respondent as respondent had to bear costs for litigations filed by petitioner. (iv). Both parties agree that amounts receivables from Insurance Companies, banks, employer of deceased as detailed in para (i) and liabilities as detailed in para (i)c shall be shared by both petitioner and Respondent in ratio of 50 : 50 share. Exact figures cannot be given at this stage because the same only be ascertained once this settlement agreement is approved by the Hon'ble Supreme Court. There may be some changes in the exact figures. 4. The parties also hereby agree that they will not initiate any further litigation against each other and their relatives for the subject matter of this settlement. The parties hereby further agree that there is no other litigation or dispute pending between them and /or their relatives pertaining to any moveable property, immovable property and about Jewellery. All the concerns/claims of the parties and their relatives against each other fully and finally stand settled vide present settlement. 5. The Parties also agree and will adhere that any withdrawals from the above stated joint account will be with written consent of each other. The parties agree that all the receivables mentioned in para 2 should have been processed and received in total and also the liabilities will be settled and the cases mentioned above will be withdrawn in time bound manner within 15 days after the settlement deed is filed before the Court and is approved by Hon'ble Supreme Court. The money in joint account can be withdrawn only after all the above conditions have been fulfilled. 6. The parties agree that in case there are any receivables including interest or liabilities left out inadvertently will be equally shared by both the parties herein. 7. By signing this Settlement Agreement, the parties hereto solemnly state and affirm that they have no further claims or demands against each other regarding this matter, and all the disputes and differences have been amicably settled by the parties hereto through the process of Mediation. 8. The parties undertake that to abide by the terms and conditions set out in the present Settlement Agreement, which have been arrived at without any coercion, duress or collusion and undertake not to raise any dispute whatsoever henceforth. 9. The Parties agree that this settlement agreement may be furnished at the required places in place of succession certificate to fulfil the obligations under this agreement. 10. Both the parties have agreed that in case any party does not fulfill any of the terms mentioned in the present settlement agreement, the other party shall have the right to initiate legal proceedings against the other party, as per the law. 11. Both the parties have read and understood the terms of the present settlement agreement and have consulted their respective legal counsels also, and are accordingly signing this settlement agreement in presence of all the persons named below, to authenticate their will to comply with the same. 12. This Settlement Agreement supersedes all negotiations and discussions held between the parties regarding this matter.;