Akasa Finance Ltd. Vs Morpheus Developers Pvt. Ltd. & Anr. — Delhi HC (2025) — LawSathi Research

Akasa Finance Ltd. Vs Morpheus Developers Pvt. Ltd. & Anr. — Delhi HC (2025) — LawSathi Research

What the court decided

AI extract

Outcome

Both petitions and all pending applications disposed of in terms of the Settlement Agreement dated 1st October, 2025; Registry directed to release the deposited balance of Rs. 2,50,00,000/- to the respondent/decree holder; parties bound by the Settlement Agreement; petitioners/judgment debtors to deposit TDS and provide the TDS certificate to the respondent/decree holder.

Issue for consideration

Whether the pending petitions (O.M.P. (COMM) 204/2025 and OMP (ENF.) (COMM.) 184/2025) and applications should be disposed of in terms of the Settlement Agreement dated 1st October, 2025 entered into between the parties.

Court's answer

The Court went through the terms of the Settlement Agreement dated 1st October, 2025 and found the same to be lawful.

Ratio / Principle

In terms of the Settlement Agreement, a sum of Rs. 5 crores is payable by the petitioners/judgment debtors to the respondent/decree holder; out of this, Rs. 2,50,00,000/- has already been paid and the balance Rs. 2,50,00,000/- stands deposited with the Registry of the Court.

Key takeaways

The Registry is directed to release the deposited balance amount of Rs. 2,50,00,000/- in favour of the respondent/decree holder.ratio¶¶24
The requisite amount of TDS on the settlement amount shall be deposited by the petitioners/judgment debtors before the Income Tax Authorities, and the petitioners/judgment debtors shall thereupon provide the TDS certificate to the respondent/decree holder.ratio¶¶25
The parties shall remain bound by the terms of the Settlement Agreement.ratio

Detailed headnote1 paragraphs

Delhi High Court (Amit Bansal, J.; order dated 14.10.2025): In O.M.P. (COMM) 204/2025 (Morpheus Developers Pvt. Ltd. & Anr. v. Akasa Finance Limited) and the connected execution petition OMP (ENF.) (COMM.) 184/2025 with EX.APPL.(OS) 1233/2025 (Akasa Finance Ltd v. Morpheus Developers Pvt. Ltd. & Anr.), the parties settled all their disputes by a final Settlement Agreement dated 1st October, 2025 placed on record. The Court found the terms of the Settlement Agreement to be lawful and recorded that a sum of Rs. 5 crores is payable by the petitioners/judgment debtors to the respondent/decree holder, of which Rs. 2,50,00,000/- had already been paid and the balance Rs. 2,50,00,000/- stood deposited with the Registry, which was directed to release the said amount in favour of the respondent/decree holder. The petitioners/judgment debtors were to deposit the requisite TDS with the Income Tax Authorities and provide the TDS certificate to the respondent/decree holder. The parties were declared bound by the terms of the Settlement Agreement; both petitions and all pending applications were disposed of.

$~9 & 10

IN THE HIGH COURT OF DELHI AT NEW DELHI

- O.M.P. (COMM) 204/2025

9 MORPHEUS DEVELOPERS PVT.. LTD. & ANR. .....Petitioners Through: Mr. Avinash Trivedi and Mr. Rahul Aggarwal, Advocates

versus

AKASA FINANCE LIMITED .....Respondent

Through: Mr. Arvind Jadon, Advocate

OMP (ENF.) (COMM.) 184/2025 & EX.APPL.(OS) 1233/2025

10 AKASA FINANCE LTD .....Decree Holder Through: Mr. Arvind Jadon, Advocate

versus

MORPHEUS DEVELOPERS PVT. LTD. & ANR. .....Judgement Debtors Through: Mr. Avinash Trivedi and Mr. Rahul Aggarwal, Advocates

CORAM: HON'BLE MR. JUSTICE AMIT BANSAL

O R D E R

% 14.10.2025

The parties have settled all their disputes.

The final Settlement Agreement dated 1^st October, 2025, (hereinafter

‘Settlement Agreement’) has been placed on record. The said Settlement Agreement bears the signatures of the authorised representatives of the petitioners/judgment debtors and the respondent/decree holder.

I have gone through the terms of the Settlement Agreement and find

O.M.P. (COMM) 204/2025 & connected matter

Page 1 of 2

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 16/10/2025 at 14:21:12

the same to be lawful.

In terms of the Settlement Agreement, a sum of Rs. 5 crores is to be paid by the petitioners/judgment debtors to the respondent/decree holder. Out of the aforesaid sum, Rs. 2,50,00,000/- has already been paid by the petitioners to the respondent. The balance sum of Rs. 2,50,00,000/-has been deposited by the petitioners/judgment debtors with the Registry of this Court. The Registry is directed to release the said amount in favour of the respondent/decree holder.

The requisite amount of TDS on the aforesaid amount shall be deposited by the petitioners/judgment debtors before the Income Tax Authorities and thereupon the petitioners/judgment debtors shall provide the TDS certificate to the respondent/decree holder.

The parties shall remain bound by the terms of the Settlement Agreement.

In view thereof, both the petitions stand disposed of.

All pending applications stand disposed of.

AMIT BANSAL, J

OCTOBER 14, 2025 ds

O.M.P. (COMM) 204/2025 & connected matter

Page 2 of 2

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 16/10/2025 at 14:21:12