Co.Petition disposed on consent settlement under Delhi High Court Mediation Centre. Respondent bound to pay Rs.7,50,000 in three tranches. Petitioner granted liberty to revive petition in case of breach.
Disposition of Co.Petition 373/2014 and CA 1358/2014 binding parties to the settlement agreement.
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ICPS ENGINEERING PRIVATE LIMITED ..... Petitioner Through: Mr. Ankur Sood, Advocate
versus
DSC LIMITED ..... Respondent Through: Mr. Jatin Mongia and Mr. Rajnish Kumar, Advocates
CORAM:
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HON'BLE MR. JUSTICE RAJIV SHAKDHER O R D E R 18.01.2016
The learned counsel for the parties inform me that a settlement has been reached under the aegis of the Delhi High Court Mediation and Conciliation Centre.
I am informed that a settlement agreement was drawn up on 05.01.2016. It is stated that as per the said settlement agreement, the total amount i.e. Rs.7,50,000/-, is required to be paid by the respondent in three (3) tranches of Rs.2,50,000/- each. The dates given in the settlement agreement for payment, according to the learned counsels, are : 10.02.2016, 10.03.2016 and 10.04.2016.
In these circumstances, the captioned petition and the pending application are disposed of, binding parties to the said settlement agreement. The learned counsel for the respondent undertakes to adhere to the terms of the settlement qua payments, in particular. In case there is a breach of the CO.PET. 373/2014 page 1 of 2
terms of settlement, the petitioner will have liberty to revive the captioned petition.
RAJIV SHAKDHER, J JANUARY 18, 2016 Yg CO.PET. 373/2014
page 2 of 2
ICPS Engineering Private Limited
DSC Limited
Rajiv Shakdher
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
