Settlement reached in a contract dispute via mediation. Parties executed an agreement for payment of Rs.22.22 lacs. Petition disposed of post payment of initial sum and issuance of post-dated cheques.
Petition disposed; liberty granted to petitioner to take legal steps including revival of petition in case of dishonour of post-dated cheques.
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$~CP-59
versus SRC BUILDTECH PVT LTD. ..... Respondent Through
CORAM: HON'BLE MR. JUSTICE JAYANT NATH
O R D E R
% 11.01.2018
The matter has been settled in Mediation. Parties have entered into a settlement agreement dated 12.12.2017. In terms of the Settlement Agreement the respondent has agreed to pay to the petitioner Rs.22,22,467/in instalments. The respondent has paid a sum of Rs.5 lacs which has been duly received by the petitioner. The remaining Rs.17,22,467/- is to be paid in instalments as stated in the Settlement Agreement. Post Dated cheques for the instalments have been duly handed over to the petitioner, the last of which is payable by 11.4.2018. The respondents will ensure that all the post dated cheques when presented are duly honoured by their bankers.
In view of the above, present petition is disposed of. Liberty is granted to the petitioner to take steps as per law in the eventuality any of the post dated cheques are dishonoured by the bankers of the respondent including steps for revival of the present petition.
Petition stands disposed of. All pending applications, if any, also stand disposed of.
JAYANT NATH, J
JANUARY 11, 2018 n
Gunjan Sharma
SRC Buildtech Pvt Ltd.
Jayant Nath
As recorded by the court registry
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