Vishal Printing Press v. Saraya Industries Limited

$~CP-16 *

IN THE HIGH COURT OF DELHI AT NEW DELHI

+ CO.PET. 155/2016 VISHAL PRINTING PRESS ..... Petitioner Through Mr.Ashok Gurnani, Adv.

versus SARAYA INDUSTRIES LIMITED ..... Respondent Through Mr.Gaurav Singh, Adv.

CORAM:

HON'BLE MR. JUSTICE JAYANT NATH

O R D E R

% 16.03.2018 Parties have settled the matter before the Delhi High Court Mediation and Conciliation Centre and have signed the Agreement dated 2.2.2018. As per the Settlement Agreement the respondent has to pay a total sum of Rs.21 lacs to the petitioner. A sum of Rs.2 lacs was paid on 2.2.2018. The remaining amount is payable in 16 instalments. Learned counsel for the plaintiff confirms that till date the payment is up to date. Learned counsel for the respondent on instructions from the respondent states that the respondent shall remain bound by the terms and conditions of the Settlement Agreement and undertakes to the Court that the respondent shall abide by the same.

Binding the respondent to the said undertaking, the present petition is disposed of. All pending applications, if any, also stand disposed of accordingly.

In the eventuality there is a default by the respondent liberty is granted to the petitioner to take steps, as per law, including seeking revival of the present winding up petition.

JAYANT NATH, J MARCH 16, 2018/n