Disposed

M/S Agrawal Polyplast Pvt. Ltd. v. M/S Siyaram Poly Pet Pvt. Ltd.

Delhi HC12 Jan 2016CO.PET./72/2014

Case brief

AI extract

What is this about?

The High Court accepted and recorded a compromise agreement wherein the respondent agreed to pay the petitioner Rs.27 Lakhs via eight post-dated cheques. The court disposed of the company petition based on this settlement.

What did the court decide?

The compromise agreement dated 08.12.2015 was recorded on file and both the application and the company petition were disposed of.

M/S Agrawal Polyplast Pvt. Ltd. Vs M/S Siyaram Poly Pet… — Company and Corporate | Delhi HC (2016)

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$~22

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* IN THE HIGH COURT OF DELHI AT NEW DELHI

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CO.PET. 72/2014 M/S AGRAWAL POLYPLAST PVT. LTD. ..... Petitioner Through: Mr. Pawan Sharma and Mr. Atishree Sood, Advocates

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versus

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M/S SIYARAM POLY PET PVT. LTD. ..... Respondent Through: Mr. Harpreet Singh and Mr. Suresh Chaudhary, Advocates CORAM: HON'BLE MR. JUSTICE RAJIV SHAKDHER O R D E R % 12.01.2016

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CO. A. 84/2016 (u/O. 23 R. 3 CPC)

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This is a joint application filed by the parties to bring on record the compromise agreement dated 08.12.2015 arrived at between them. 2. Broadly, in terms of the compromise, the respondent is required to pay a total sum of Rs.27 Lakhs to the petitioner by way of 8 instalments, spread over the period 20.12.2015 till 20.07.2016. The said amount is being paid by way of 8 post dated cheques, each cheque is valued for a sum of Rs.3,37,500/-. The cheque for December as well as other 7 cheques have been handed over to the counsel for the petitioners, in court, today.

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At this stage, the learned counsel for the parties says that the cheque for December, which is presently valued at Rs.3,37,500/- will have to be replaced for adjustment qua taxes.

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CO.PET. 72/2014

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page 1 of 2

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3.1 This statement of the counsel for the parties is taken on record. The learned counsel for the respondent says that the cheque will be replaced today itself.

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To be noted, the application bears the signatures of the counsel for the parties as well as the Directors of the parties. The application is also accompanied by the affidavits of the Directors of the parties herein.

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Having regard to the terms of the compromise, I am inclined to accept the same. The compromise arrived at between the parties is lawful.

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As prayed, the compromise arrived at between the parties, which is encapsulated in the agreement dated 08.12.2015, is taken on record. The company petition is disposed of, in terms of the settlement reflected therein.

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CO.PET. 72/2014

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No further orders are called for in view of order passed, today, in CO.A. 84/2016.

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The company petition will also stand disposed of, accordingly.

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RAJIV SHAKDHER, J

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JANUARY 12, 2016 Yg

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CO.PET. 72/2014

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page 2 of 2

M/S Agrawal Polyplast Pvt. Ltd. v. M/S Siyaram Poly Pet Pvt. Ltd.

Case brief

What is this about?

What did the court decide?

M/S Agrawal Polyplast Pvt. Ltd. v. M/S Siyaram Poly Pet Pvt. Ltd.

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

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