M/S Mega Pert Technologies Jharsa Road,Gurgaon,Haryana v. M/S National Small Industries Corp Ltd & ANR

$~40 * IN THE HIGH COURT OF DELHI AT NEW DELHI + O.M.P. (COMM) 189/2020 M/S MEGA PERT TECHNOLOGIES JHARSA ROAD,GURGAON,HARYANA ..... Petitioner Through Mr. Rajesh K. Malhotra, Mr. Kapil Malhotra, Advocates.

versus M/S NATIONAL SMALL INDUSTRIES CORP LTD & ANR ..... Respondents Through Mr. A.K. Thakur, Mr. R.K. Mishra and Ms. Kavita Singh, Advocates.

CORAM:

HON'BLE MS. JUSTICE JYOTI SINGH

O R D E R

% 28.02.2020 I.A. No. 2865/2020 This is a joint application filed on behalf of the parties under Order 23 Rule 3 read with Section 151 Code of Civil Procedure, 1908. It is averred in the application that the parties have entered into an out of Court settlement, whereby it is agreed that the petitioner will pay an amount of Rs. 20 lakhs only, to the respondent in full and final settlement of the claim/Award.

The terms of settlement are as under:- i) Down payment of Rs.5,00,000/- through Demand Draft No. 666039 dated 20/02/2020.

ii) Remaining amount of Rs.15,00,000/- In 5 equal instalments of Rs.3,00,000 /- (Rs Three lacs only) each vide post dated cheques ( Chq No. 178227 dt 15/05/2020,

Chq No.178228 dt 15/08/2020, Chq No. 178229 dt 15/11/2020, Chq No. 178230 dt 15/12/2020 and Chq No. 178235 dt 15/01/ 2021) drawn on State Bank Of India, New Delhi.

Petitioner has handed over a draft towards down payment as well as the five post-dated cheques under a covering letter dated 24.02.2020 to the respondent, which fact has been acknowledged by the respondent. Present petition is therefore disposed of taking the settlement arrived at between the parties on record.

Needless to state that the parties will be bound by the settlement arrived at between them.

JYOTI SINGH, J FEBRUARY 28, 2020 yo/