The High Court of Delhi allowed a joint application for recording a settlement regarding a contract executed on 10.03.2016. The court observed the exchange of financial and performance securities and disposed of the petition in terms of the settlement.
Settlement recorded; application allowed; petition disposed of.
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IOT ENGINEERING PROJECTS LTD.
..... Petitioner Through Mr.Robin R David & Ms.Febin M Varghese, Advs
versus
JSC TECHNOPROMEXPORT & ANR.
..... Respondent Through Mr.Alexander Kuzmin, director of R1.
CORAM:
HON'BLE MR. JUSTICE VIBHU BAKHRU
O R D E R
% 08.07.2016
This is a joint application filed by the petitioner and respondent No.1 for recording their settlement. It is averred that the petitioner has handed over a demand draft of Rs.14,19,80,809.84/- and respondent No.1 has handed over the Advance Payment Security bearing reference number 100004IBGA00530 as well as Contract Performance Security bearing reference number 100004IBGP00950 in terms of the addendum to the contract executed by the said parties on 10.03.2016.
Mr.Alexander Kuzmin, director of respondent No.1/constituted attorney of respondent No.1 is present in the Court and the petitioner is represented through counsel.
In view of the addendum bearing No.5305710310 dated 10.03.2016, which is annexed to the petition, the present application
is allowed and petition is disposed of in terms of the settlement.
VIBHU BAKHRU, J
JULY 08, 2016 M
IOT ENGINEERING PROJECTS LTD.
JSC TECHNOPROMEXPORT & ANR.
VIBHU BAKHRU
As recorded by the court registry
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