CHANDRASHEKAR NAGAMMA Vs. STATE OF KARNATAKA

JUDGEMENT

(1.) Respondent No.2/complainant has filed private complaint under Sec. 200 of Cr.P.C., alleging that accused Nos.1 and 2 who are the owners of the subject property entered into joint development agreement with the complainant and under the agreement in all received a sum of Rs.1,70,00,000.00. After receiving the said amount, they did not keep up the promise to obtain necessary permission from the authorities concerned, and in turn they entered into several agreements with the other persons in respect of the subject property.

(2.) The complainant initiated the arbitration proceedings in application No.2501/2013 before the jurisdictional Court and an order of restraint is passed directing accused Nos.1 and 2 not to alienate the subject property to third person. At that point of time, accused Nos.1 to 6 approached the complainant assuring that they would compromise the matter and executea a tripartite settlement agreement dtd. 17/7/2014 in favour of the complainant and in the said agreement, the said accused persons had undertaken to pay sum of Rs.5.00 crores as full and final settlement and the complainant should withdraw the case. The complainant under the impression that accused Nos.1 to 6 would pay the amount decided to withdraw the arbitration application, and on 1/9/2014 the memo for withdrawal was filed and the said arbitration application was dismissed. It was further alleged that after withdrawal of the arbitration application, the accused Nos.1 to 6 have not come forward to pay the amount to which they promised under the agreement.

(3.) Learned Magistrate referred the complaint to the Police for investigation under Sec. 156(3) of Cr.P.C. Police registered F.I.R. for the offence under Ss. 120B , 403 and 420 of IPC.