Commercial suit settled between plaintiffs and defendant no.2 for payment of Rs.1,07,00,000 in 57 monthly installments with interest on default. Court found the settlement lawful and decreed the suit accordingly; claims against other defendants not pressed.
Suit decreed in terms of the settlement; decree sheet to be prepared.
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$~30
versus
MRS. RUBI MITTAL AND ORS. .....Defendants
Through: Mr.Raj Kumar, Adv. with D-2.
CORAM: HON'BLE MR. JUSTICE NAVIN CHAWLA O R D E R % 22.08.2024
I.A. 36593/2024
“(i) That the parties have amicably fully and finally settled all their disputes and differences.
(ii) That the defendants have agreed to pay a sum of Rs.1,07,00,000/-(Rupees one crore seven lakh Only) to the plaintiffs by way of NEFT/RTGS/Online Transfer/Cash in 57 monthly installments on 12th of each English Calendar month, in the following manner:
| Monthly Installments No. |
Date | Amount (Rs.) |
|---|---|---|
| 1. | 12.08.2024 | 2,00,000/- |
| 2. | 12.09.2024 | 2,00,000/- |
| 3. | 12.10.2024 | 2,00,000/- |
| 4. | 12.11.2024 | 2,00,000/- |
This is a digitally signed order.
The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 27/08/2024 at 11:37:52
| 5. | 12.12.2024 | 2,00,000/- |
|---|---|---|
| 6. | 12.01.2025 | 2,00,000/- |
| 7. | 12.02.2025 | 2,00,000/- |
| 8. | 12.03.2025 | 2,00,000/- |
| 9. |
12.04.2025 |
2,00,000/- |
| 10. | 12.05.2025 | 2,00,000/- |
| 11. | 12.06.2025 | 2,00,000/- |
| 12. |
12.07.2025 |
2,00,000/- |
| 13. | 12.08.2025 | 2,00,000/- |
| 14. | 12.09.2025 | 2,00,000/- |
| 15. | 12.10.2025 | 2,00,000/- |
| 16. | 12.11.2025 | 2,00,000/- |
| 17. | 12.12.2025 | 2,00,000/- |
| 18. | 12.01.2026 | 2,00,000/- |
| 19. | 12.02.2026 | 2,00,000/- |
| 20. | 12.03.2026 | 2,00,000/- |
| 21. | 12.04.2026 | 2,00,000/- |
| 22. | 12.05.2026 | 2,00,000/- |
| 23. | 12.06.2026 | 2,00,000/- |
| 24. | 12.07.2026 | 2,00,000/- |
| 25. | 12.08.2026 | 2,00,000/- |
| 26. | 12.09.2026 | 2,00,000/- |
| 27. | 12.10.2026 | 2,00,000/- |
| 28. | 12.11.2026 | 2,00,000/- |
| 29. | 12.12.2026 | 2,00,000/- |
| 30. | 12.01.2027 | 2,00,000/- |
| 31. |
12.02.2027 |
2,00,000/- |
| 32. | 12.03.2027 | 2,00,000/- |
| 33. | 12.04.2027 | 2,00,000/- |
| 34. | 12.05.2027 | 2,00,000/- |
| 35. | 12.06.2027 | 2,00,000/- |
| 36. | 12.07.2027 | 2,00,000/- |
| 37. | 12.08.2027 | 2,00,000/- |
| 38. | 12.09.2027 | 2,00,000/- |
| 39. | 12.10.2027 | 2,00,000/- |
| 40. | 12.11.2027 | 2,00,000/- |
| 41. | 12.12.2027 | 2,00,000/- |
| 42. | 12.01.2028 | 2,00,000/- |
| 43. | 12.02.2028 | 2,00,000/- |
| 44. | 12.03.2028 | 2,00,000/- |
| 45. | 12.04.2028 | 2,00,000/- |
| 46. | 12.05.2028 | 2,00,000/- |
| 47. | 12.06.2028 | 2,00,000/- |
This is a digitally signed order.
The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 27/08/2024 at 11:37:52
| 48. | 12.07.2028 | 2,00,000/- |
|---|---|---|
| 49. | 12.08.2028 | 2,00,000/- |
| 50. | 12.09.2028 | 2,00,000/- |
| 51. | 12.01.2029 | 1,00,000/- |
| 52. | 12.02.2029 | 1,00,000/- |
| 53. | 12.03.2029 | 1,00,000/- |
| 54. | 12.04.2029 | 1,00,000/- |
| 55. | 12.05.2029 | 1,00,000/- |
| 56. | 12.06.2029 | 1,00,000/- |
| 57. | 12.07.2029 | 1,00,000/- |
| 1,07,00,000/- |
(iii) That it is agreed between the parties, in clear and categorical manner that no extension of any monthly installment beyond 25th of each English Calendar Month, under any circumstances whatsoever, shall be permissible or be granted to the defendants. On the payment of each installment, the proper receipt will be executed and duly signed by both the parties. In case of delay in payment of monthly installments, the defendant is liable to pay the interest @15% p.a. till its payment uptil three defaults, thereafter on subsequent delay in monthly installments i.e. from 04th default till last installment default; the defendant is liable to pay the interest at @21% p.a.
(iv) That on payment of all timely installmentstotaling to a sum of Rs.10700000/-, the plaintiffs shall withdraw the present suit and shall not raise any kind of claim against the defendants in any manner whatsoever.
(v) That in case of breach of undertaking, both the parties are at liberty to initiate the contempt proceeding in accordance with law against defaulting party.
This is a digitally signed order.
The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 27/08/2024 at 11:37:52
settlement.
NAVIN CHAWLA, J
AUGUST 22, 2024/Arya/DG
Click here to check corrigendum, if any
This is a digitally signed order.
The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 27/08/2024 at 11:37:52
1 issue framed by the court
Whether the suit should be decreed in terms of the joint application recording the parties' settlement.
M/S A.K. Exports
Plaintiff No. 2 (sole proprietor of M/S A.K. Exports)
Mrs. Rubi Mittal
Defendant No. 2
Navin Chawla
As recorded by the court registry
A suit of a commercial nature above the specified value, governed by the Commercial Courts Act 2015.
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