Associated Switch Gear & Projects Ltd. & ANR. v. Brijesh Arya & ORS.

$~R-1 * IN THE HIGH COURT OF DELHI AT NEW DELHI + CRL.REV.P. 85/2013 & CRL.M(B)323/2013, CRL.M.As18954-55/2013 ASSOCIATED SWITCH GEAR & PROJECTS LTD. & ANR. ..... Petitioners Through:

Mr. Ikrant Sharma & Ms.

Divya Upadhayay, Advocates versus BRIJESH ARYA ..... Respondent Through:

Mr. Rajesh Kumar, Advocate

CORAM:

HON'BLE MR. JUSTICE CHANDER SHEKHAR

O R D E R

% 08.04.2019 1.

Learned counsel for the parties submitted that the matter stands settled between the parties vide Settlement-Agreement (exhibit CW-1) dated 20.2.2019, without any force, pressure or coercion before the Delhi High Court Mediation & Conciliation Centre.

2.

Jawahar Lal Jain, petitioner No.2, who is also the Director of petitioner No.1 company and Brijesh Arya, the respondent are present in Court and submitted that they shall remain bound by the terms and conditions of the aforementioned Settlement-Agreement and their submissions before this Court be accepted by this Court as undertakings. The submissions of the petitioner No.1 and respondent No.2 are taken on record and accepted as undertakings by them to

remain bound by the terms and conditions of the SettlementAgreement dated 20.2.2019 (exhibit CW-1). 3.

Learned counsel for the parties submitted that the offence under Section 138 of the Negotiable Instruments Act, 1881 is a compoundable offence, hence the same may be compounded as per law.

4.

Accordingly, in view of the submissions of the learned counsel for the parties, the offence is compounded. The petitioners are acquitted. However, in case of breach of the terms and conditions of the Settlement-Agreement, the parties are at liberty to move an appropriate application at any point of time.

5.

The petition is disposed of in above terms. All the pending applications are also disposed of.

6.

File be consigned to the Record Room.

CHANDER SHEKHAR, J APRIL 08, 2019 tp