← Library
High Court of DelhiOMP (ENF.) (COMM.)/213/2019

National Fertilizers Ltd. v. Jaiprakash Associates Limited

2020-02-14Hon'Ble Ms. Justice Rekha Palli2 pages

$~12 * IN THE HIGH COURT OF DELHI AT NEW DELHI + OMP (ENF.) (COMM.) 213/2019 NATIONAL FERTILIZERS LTD.

..... Decree Holder Through:

Ms. Nishtha Wadhwa, proxy counsel.

versus JAIPRAKASH ASSOCIATES LIMITED ..... Judgement Debtor Through:

Mr. Pawan Upadhyay, Mr. Rajesh and Mr.Sarvjit Pratap Singh, Advs.

CORAM:

HON'BLE MS. JUSTICE REKHA PALLI

O R D E R

% 14.02.2020 EX.APPL.(OS) 227/2020 & OMP (ENF.) (COMM.) 213/2019 1.

Vide the present application, the parties jointly seek disposal of the petition in terms of the settlement agreement and undertaking given by the JD, both dated 12.02.2010. The settlement agreement as also the undertaking have been filed along with the application. 2.

The prayers in the application read as under:- "a.

Take the Settlement Agreement dated 12.02.2020 (Annexure A) on record alongwith undertaking of the Judgment Debtor dated 12.02.2020 duly signed on its behalf by its Executive Chairman & CEO (Annexure B) as mentioned in the present application, as well as, to incorporate the Settlement Agreement and the undertaking, as part of the order(s) of this Hon'ble Court and dispose of the present Petition by passing necessary orders in terms of the Joint Application;

b.

Vacate the attachment order dated 09.12.2019 and direct the authorities concerned not to proceed and act

upon the order dated 09.12.2019 as passed by this Hon'ble Court in OMP(ENF.)(COMM.) No.213 of 2019; c.

Pass any other or further order(s) that this Hon'ble Court deems fit in the interest of justice and in the facts and circumstances of the present case." 3.

The present petition under Section 36 of the Arbitration and Conciliation Act, 1996 was filed seeking enforcement of the arbitral award dated 22.07.2014. As the parties have arrived at a settlement, the petition along with the application is disposed of in terms of the settlement. The parties shall remain bound by the terms of the settlement.

4.

As a consequence of the settlement and disposal of the petition, the attachment order passed by this Court on 09.12.2019 stands vacated.

REKHA PALLI, J.

FEBRUARY 14, 2020 'sdp'