An order disposing a petition upon settlement between the parties involving a company and a post-dated cheque undertaking, staying the petition with liberty for revival on default.
Petition dismissed; liberty to petitioner granted to revive petition upon default of payment in terms of settlement.
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$~CP-56
* IN THE HIGH COURT OF DELHI AT NEW DELHI
versus M/S UNIVERSAL BUILDWELL PVT.LTD..... Respondent Through Mr.Arjun Sawhney, Adv. for respondent with Mr.Vikram Puri, Director of Universal Buildwel Pvt.Ltd.
CORAM: HON'BLE MR. JUSTICE JAYANT NATH
%
O R D E R 21.03.2018
Learned counsel for the parties submit that parties have settled the matter and have entered into a settlement agreement dated 8.3.2018. Copy of the Settlement Agreement has been handed over in court. It is also stated that in terms of the Settlement Agreement a post dated cheque for Rs.7,50,000/- dated 31.3.2018 has been handed over to the petitioner. Mr.Vikram Puri, Director of the respondent company is present in court. He undertakes that the respondent will abide by the terms and conditions of the Settlement Agreement. He also undertakes that the post dated cheque of Rs.7,50,000/- dated 31.3.2018 shall be duly honoured by the bankers of the respondent when presented. The undertaking of Mr.Vikram Puri is taken on record. Mr.Vikram Puri shall remain bound by the said undertaking.
In view of the said Settlement Agreement the present petition stands disposed of. Liberty is granted to the petitioner to take steps as per law in the eventuality there is a default in making payments in terms of the Settlement
including seeking revival of the present petition.
Settlement Agreement is taken on record and be sent to the Registry
for scanning.
Petition stands disposed of. all pending applications, if any, also stand disposed of.
JAYANT NATH, J MARCH 21, 2018 n
Areeama Uberoi
M/S Universal Buildwell Pvt. Ltd.
Jayant Nath
As recorded by the court registry
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