BENGALURU: A 22-year-old property dispute among the Lad family, which belong to the Ballari-Sandur region in , has been finally resolved.
This follows the acceptance of a compromise entered into by the family members, who were parties to two Regular First Appeals (RFA) filed before the . The settlement was arrived at after a series of negotiations involving senior members of the family, advocates and well-wishers.
“This case shows that by adopting Alternative Dispute Resolution mechanism, long-standing and contentious disputes can be resolved. In a suit, only one party wins. Here, everyone is a winner,” senior advocate Prabhuling K Navadagi told STOI.
Navadgi, who appeared for the Lad family, feels that settlement of the case which originated in 1996 before a court in can be an example for other such cases when it comes to dispute resolution. After the parties agreed to the settlement and submitted a joint compromise petition, a division bench comprising Justice BV Nagarathna and Justice PS Dinesh Kumar accepted the same. The judges also complimented the parties for solving the dispute. As part of the settlement, appellant Srinivas Lad got a little over Rs 65 crore in lieu of giving up his rights on other properties. It also allows transaction in relation to 256 properties owned by mining barons Santosh Lad, Anil Lad, Eknath Lad, Vishwas Lad and Vinay Lad. The properties include VS Steel Limited, Big Bazaar in and IT Park in Whitefield. There was a restraint order operating against these family properties after Srinivas filed the RFA in 2014.
The dispute arose when Srinivas, who is the son of the third wife of the late Lad, the family patriarch, made a claim over the family properties seeking one-eighth share. This was challenged by the other members, including brothers Santosh and Anil.
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