Telangana High Court M/S. Netxcell Limited vs Telangana State Board Of Intermediate ... on 19 September, 2024 THE HONOURABLE SRI JUSTICE C.V. BHASKAR REDDY WRIT PETITION No.18847 of 2024 ORDER: This writ petition, under Article 226 of the Constitution of India, is filed by the petitioner, seeking following relief: "...to issue a writ, order, or direction more particularly one in the nature of Writ of Mandamus, declaring the inaction of the respondents herein in complying with the Award of the Micro and Small Enterprises Facilitation Council, Ranga Reddy Division established under Section 20 of the Micro, Small Medium Enterprises Development Act, 2006, passed in Case No. 1517/MSEFC/2022, dated 03/02/2024 as illegal, unlawful and opposed to the principles of natural justice and violation of Rule of Law and in consequence direct the respondents herein to pay the Petitioner Company forthwith the awarded amount of dues by the Micro and Small Enterprises Facilitation Council, Ranga Reddy Division established under Section 20 of the Micro, Small Medium Enterprises Development Act, 2006, passed in Case No. 1517/MSEFC/2022, dated 03/02/2024, i.e the Principal amount of dues of Rs.39,06,048 (Rupees Thirty Nine Lakhs, Six Thousand and Forty Eight only) and interest of Rs. 49,43,163, (FortyNine Lakhs, FortyThree Thousand, One Hundred and SixtyThree only), totaling to Rs. 88,49,211/ (EightyEight Lakhs, FortyNine Thousand, Two Hundred and Eleven only) as per Sections 15 and 16 of MSMED Act, 2006 and further Compound Interest we.f 03/02/2024 with monthly rests shall be payable at the rate of 3 times of the Bank Rate as notified by the Reserve Bank of India from time to time till realization of dues i.e, till the day of final payment made to the petitioner by the respondents..." 2 2. When the matter is taken up for hearing, learned counsel for both sides submitted that, pending adjudication of the writ petition, the parties have amicably settled the matter out of Court by entering into a Memorandum of Understanding (MoU) dated 18.09.2024. A copy of the same has been produced before this Court. 3. A perusal of the Memorandum of Understanding dated 18.09.2024 reveals that, after conciliation, both parties agreed that the petitioner would accept the original balance amount of Rs.39,06,048/ (Rupees ThirtyNine Lakhs Six Thousand Forty Eight only) and forgo the interest portion as awarded by the Micro and Small Enterprises Facilitation Council. Clause 8 of the MoU reads as follows: "8) After conciliation the Agency has agreed to withdraw the W.P.No.18847 of 2024 before the Hon'ble High Court Telangana while accepting the original balance amount of Rs.39,06,048/ (Rupees Thirtynine lakhs six thousand and fortyeight only) forego the interest part as awarded by MSEFC. The original balance amount of Rs.39,06,048/ (Rupees Thirty nine lakhs six thousand and fortyeight only) is paid through cheque bearing No.992200 dated 1809 2024, of State Bank of India, Gruhakalpa Hyderabad and the same will be encashed by the Agency after withdrawing the Writ petition before the Hon'ble High Court of Telangana." 3 4. In the light of settlement arrived at between the parties and the terms mentioned in the Memorandum of Understanding, this Writ Petition is closed. It is, however, needless to state that in the event, amount paid to the petitioner through Cheque No. 992200 dated 18.09.2024 is not realized, the petitioner is at liberty to avail the remedies for realization of the amount, as available under law. Miscellaneous Petitions, if any, pending in this writ petition shall stand closed. No order as to costs. ___________________________ C.V. BHASKAR REDDY, J Date: 19.09.2024 scs