Disposed

M.K. Jain v. Mr. Swaranjit Singh Sayal

Delhi HC28 Feb 2024RFA(OS)/3/2024

Case brief

AI extract

What is this about?

Regular first appeal disposed of on consent terms: appellant to pay Rs.3 crores with 5% simple interest from institution of suit, respondent to assist in quashing a criminal complaint, failing which the entire decretal amount becomes payable.

What did the court decide?

Settlement terms recorded; Rs.3 crores plus 5% interest payable by 28.06.2024, assistance in quashing criminal complaint, default entails entire decretal amount.

M.K. Jain Vs Mr. Swaranjit Singh Sayal — Contract and Commercial Disputes | Delhi HC (2024)

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$~11

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IN THE HIGH COURT OF DELHI AT NEW DELHI

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- RFA(OS) 3/2024 and CM APPL. 2054/2024

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M.K. JAIN ..... Appellant Through: Mr Vipul Wadhwa with Ms Kashika Gera and Ms Carina Arora, Advocates along with appellant in person.

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versus

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MR. SWARANJIT SINGH SAYAL ..... Respondent Through: Mr Davinder Singh, Sr. Advocate with Mr Srivats Kaushal, Advocate along with respondent in person.

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CORAM:

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HON'BLE MR JUSTICE RAJIV SHAKDHER HON'BLE MR JUSTICE AMIT BANSAL

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O R D E R

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% 28.02.2024

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[Physical Hearing/Hybrid Hearing (as per request)]

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Parties are present in person.

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Counsel for the parties, based on the instructions received from their respective clients, say that the appeal can be disposed of in the following terms:

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(i) The principal amount, i.e., Rs.3 crores, will be paid by the appellant to the respondent on or before 28.06.2024.

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(ii) The appellant will also pay simple interest @ 5% per annum on Rs.3 crores, from the date of institution of the suit till the date the said amount is paid.

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RFA(OS) 3/2024 page 1 of 2

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This is a digitally signed order.

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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 02/03/2024 at 11:54:17

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(iii) Upon the aforementioned amount being paid, along with interest as indicated above, the respondent will assist the appellant in having the criminal complaint quashed.

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(iv) In the event of default, the entire decretal amount will be payable by the appellant.

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The parties will be bound by the terms of the settlement.

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The appellant will file an affidavit, which would inter alia indicate that he undertakes to make the payment to the respondent, as per the terms indicated above.

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4.1 The affidavit will be filed within the next five (05) days.

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4.2 A copy of the same will be furnished to the counsel for the respondent.

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The appeal is disposed of in the aforesaid terms.

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Pending application shall also stand closed.

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RAJIV SHAKDHER, J

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AMIT BANSAL, J

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FEBRUARY 28, 2024 / tr

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Click here to check corrigendum, if any

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RFA(OS) 3/2024

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page 2 of 2

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This is a digitally signed order.

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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 02/03/2024 at 11:54:17

M.K. Jain v. Mr. Swaranjit Singh Sayal

Case brief

What is this about?

What did the court decide?

M.K. Jain v. Mr. Swaranjit Singh Sayal

Case brief

What is this about?

What did the court decide?

What the court decided

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Parties & counsel

Coram

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