Eworld Business Solutions Private Limited & ORS v. Genesis Finance Company Limited

$~O1 to O3 * IN THE HIGH COURT OF DELHI AT NEW DELHI + CS(COMM) 125/2020 and IA Nos.3874-3876/2020 BURLINGTON LUXURY BRANDS PVT. LTD.

& ORS.

..... Plaintiffs Through Mr. Nikhil Kohli, Mr. Tanmaya Mehta and Mr. Gaurav Gupta , Advocates versus GENESIS FINANCE COMPANY LTD.

..... Defendant Through Mr.

Manik Dogra and Mr.

Shubhanshu Gupta, Advocates + CS(COMM) 126/2020 and IA Nos.3883-3885/2020 BERKELEY BEAUTY BRANDS PVT. LTD.

& ORS.

..... Plaintiffs Through Mr. Nikhil Kohli, Mr. Tanmaya Mehta and Mr. Gaurav Gupta , Advocates versus GENESIS FINANCE COMPANY LTD.

..... Defendant Through Mr.

Manik Dogra and Mr.

Shubhanshu Gupta, Advocates + CS (COMM) 127/2020 and IA Nos.3886-3888/2020 EWORLD BUSINESS SOLUTIONS PVT. LTD.

& ORS.

..... Plaintiffs Through Mr. Nikhil Kohli, Mr. Tanmaya Mehta and Mr. Gaurav Gupta, Advocates versus

GENESIS FINANCE COMPANY LTD.

..... Defendant Through Mr.

Manik Dogra and Mr.

Shubhanshu Gupta, Advocates

CORAM:

HON'BLE MS. JUSTICE JYOTI SINGH

O R D E R

% 08.06.2020 IA No.4277/2020 in CS (COMM) 125/2020 IA No.4278/2020 in CS (COMM) 126/2020 IA No.4279/2020 in CS (COMM) 127/2020 Hearing has been conducted through Video Conferencing. These applications have been filed under Order XXIII Rule 3 read with Section 151 CPC. It is stated in the applications that parties have resolved and settled their disputes and a Settlement Agreement dated 05.06.2020 has been executed between the Plaintiffs and its Affiliates and the Defendant and its Affiliates. Settlement Agreement has been placed on record. It is also stated that the Plaintiffs and their Affiliates have separately given Affidavits of Undertaking for making payments in terms of the Settlement Agreement. Affidavits of Undertaking are also on record.

Applications have been signed by the counsel as well as the Authorised Representatives of the Defendant. Affidavits in support of the applications duly signed by the Authorised Representatives of the Defendant have also been filed. Respective counsels for the parties have identified the signatories to the Settlement Agreement as well as Undertakings filed in Court. Settlement Agreement as well as Affidavits of Undertaking are taken on record.

I have perused the Settlement Agreement and, in my view, the terms

of settlement are just, reasonable and lawful and there is no impediment in accepting the same.

Accordingly, the captioned applications are allowed. Suits and the applications filed herewith are disposed of in terms of the Settlement Agreement. Settlement Agreement dated 05.06.2020 shall form part of the Decree.

Decree sheet be drawn accordingly.

JYOTI SINGH, J JUNE 08, 2020 yg/