M/S Earl Chawla & Co (P) Limited & ANR v. Pradeep Narang & ORS

$~71 * IN THE HIGH COURT OF DELHI AT NEW DELHI + RFA 957/2019, CM APPL. 48318/2019 & CM APPL. 35417/2021 M/S EARL CHAWLA & CO (P) LIMITED & ANR. ..... Appellants Through:

Mr. Abhishek Kumar Rao and Mr.

Shailesh Suman, Advocates.

versus PRADEEP NARANG & ORS.

..... Respondents Through:

Mr. Salim and Mr. Sadaat Salim, Adv. for R-l. Mr. Pradeep Nagar, R-1 (through VC).

Ms. Anubha, Adv. for R-2 (VC).

CORAM:

HON'BLE MR. JUSTICE SACHIN DATTA % 25.04.2024

O R D E R

1.

The present appeal arises out of a suit filed by the contesting respondent, namely, Mr. Pradeep Narang for specific performance of Agreement to Sell dated 26.04.1990 executed between the appellants and the said contesting respondent in respect of dwelling unit having a super area of approximately 4932 sq. Ft. in Block No. E situated on property bearing number 20A Friends Colony, New Delhi.

2.

By the judgment dated 14.08.2019, the prayer for specific performance was declined, however, a decree was passed against the appellants qua recovery of an amount of Rs. 15,00,000/- with interest. 3.

The operation of the impugned judgment was stayed by order dated 08.11.2019 of this court and the appellants were directed to deposit 50% of the decreetal amount with the Registrar General of this court. The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 02/05/2024 at 12:34:46

4.

Pursuant to the said order dated 08.11.2019, Ms. Kiran Abnashi Chawla on behalf of the appellants deposited Rs. 25,05,000/- with the Registrar General of this court vide bankers' cheque bearing particulars - Key: WUDGIP Sr. No. 267529 dated 03.12.2019.

5.

The appellants and the said contesting respondent are desirous of ending the long drawn litigation which has been going on since 1993. They have arrived at an amicable settlement of all their disputes and differences in the following terms:- (i) The amount of Rs. 25,05,000/- be released to the contesting respondent, namely, Mr. Pradeep Narang whereas the interest accrued on the said amount of Rs. 25,05,000/- deposited in an interest bearing FDR be released to Ms. Kiran Abnashi Chawla, the Director of the appellants in the bank accounts to be furnished by Mr. Pradeep Narang and Ms. Kiran Abnashi Chawla.

(ii) Mr. Pradeep Narang will accept the said amount of Rs. 25,05,000/- as a full and final settlement towards all his claims against the appellants. 6.

Respective counsel for the appellants and the respondent no.1 submit that the aforesaid inter se settlement arrived at between them imposes no obligation whatsoever on the respondent no.2. 7.

In view of the aforesaid settlement, the impugned judgment is set aside and the appeal is disposed of in terms thereof. Pending applications also stand disposed of.

SACHIN DATTA, J APRIL 25, 2024 The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 02/05/2024 at 12:34:46