Dispositions of three consolidated money recovery suits where parties settled the claims for Rs. 17.50 lacs within six months, or increased to Rs. 20 lacs thereafter.
Suits disposed/settled with defendants paying Rs. 17.50 lacs within six months, increasing to Rs. 20 lacs if not paid by then.
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Signature Not Verified Signed By:RAM DATT Signing Date:08.10.2024 15:56 Certify that the digital and physical file have been compared and the digital data is as per the physical file an d no page is missing.
vr-O N5
Mr. Prakash Pandey, Advocate.
versus
M/S AMRIT LAL BAJAJ & CO. & ANR. Defendants Through: Mr. Rajeev Bansal, Senior Advocate with Mr. Manu Nayar, Advocate, Ms. Meenakshi Bhatia, Advocate and Ms. Radhika Arora, Advocate.
CORAM:
HON'BLE MR. JUSTICE VALMIKIJ. MEHTA
ORDER % 20.02.2018
^
^ happy to note that counsels for both the parties as also the parties themselves had taken a pragmatic view in the facts and circumstances of the case and the evidence appearing on record that plaintiffs, who have already received a sum of Rs.2.20 lacs as costs pursuant to the order passed by this Court on 28.11.2017, will receive an amount of
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Rs. 17.50 lacs from the defendants in full and final settlement of the claims of the plaintiffs in these three suits.
(i) A sum of Rs. 12.50 lacs will be paid to M/s KMG Leasing and Finances Limited which is the present name of the plaintiff.
(ii) A sum of Rs.5 lacs will be paid in the name of Mrs. Alka Goyal, who is the plaintiff in CS(COMM) No.422/2016.
Suits are accordingly disposed of in terms of aforesaid consent
order.
VALMIKIJ. MEHTA, J
FEBRUARY 20,2018 n
TQtdi'tnst iv
2 issues framed by the court
Whether the suits should be disposed of on the basis of a settlement agreement reached by the parties.
What terms of payment should be stipulated in the consent order.
Mr. Prakash Pandey
M/S Amrit Lal Bajaj & Co.
Valmikij. Mehta
As recorded by the court registry
A suit of a commercial nature above the specified value, governed by the Commercial Courts Act 2015.
Judgements on the same questions, provisions and authorities, from every court
