Avantha Holdings Limited v. Vistra Itcl India Limited & ORS.
$~69 * IN THE HIGH COURT OF DELHI AT NEW DELHI + CS(COMM) 857/2022 & I.A. 20859/2022, I.A. 3506-3508/2023, I.A. 7574-7575/2023 AVANTHA HOLDINGS LIMITED .....Plaintiff Through:
Ms. Shruti Kanodia, Ms. Ishita Jain, Ms. Amrita Bakhshi, Mr. Kshitij Ujala, Advocates versus VISTRA ITCL INDIA LIMITED & ORS.
.....Defendants Through:
Mr. Praful Jindal, Advocate for D-1 to D-3.
Mr. Siddharth, Advocate for D-5.
CORAM:
HON'BLE MR. JUSTICE SUBRAMONIUM PRASAD
O R D E R
% 28.01.2026 I.A. 1269/2026 & I.A. 1270/2026 1.
I.A. 1269/2026 has been filed by the Plaintiff under Order XXIII Rules 1 & 3 of CPC, seeking withdrawal of the present Suit in terms of the settlement arrived at between the parties vide a Settlement Agreement dated 21.11.2025.
2.
I.A. 1270/2026 has been filed by the Plaintiff under Section 16 of the Court Fees Act, 1870 seeking refund of court fees. 3.
The instant Suit has been filed by the Plaintiff inter alia seeking declaration of two Debenture Trust Deeds i.e., one for 5,650 Debentures and another for 7,000 Debentures, both dated 05.01.2017 executed between the Plaintiff and the Defendant No.1 for issuance of debentures to Defendant Nos.2 to 5 as void ab initio.
4.
During the pendency of the present Suit, the Parties have entered into the Settlement Agreement dated 21.11.2025, which reads as under: CS(COMM) 857/2022 Page 1 of 21 The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.
CS(COMM) 857/2022 Page 2 of 21 The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.
CS(COMM) 857/2022 Page 3 of 21 The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.
CS(COMM) 857/2022 Page 4 of 21 The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.
CS(COMM) 857/2022 Page 5 of 21 The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.
CS(COMM) 857/2022 Page 6 of 21 The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.
CS(COMM) 857/2022 Page 7 of 21 The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.
CS(COMM) 857/2022 Page 8 of 21 The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.
CS(COMM) 857/2022 Page 9 of 21 The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.
CS(COMM) 857/2022 Page 10 of 21 The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.
CS(COMM) 857/2022 Page 11 of 21 The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.
CS(COMM) 857/2022 Page 12 of 21 The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.
CS(COMM) 857/2022 Page 13 of 21 The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.
CS(COMM) 857/2022 Page 14 of 21 The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.
CS(COMM) 857/2022 Page 15 of 21 The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.
CS(COMM) 857/2022 Page 16 of 21 The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.
CS(COMM) 857/2022 Page 17 of 21 The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.
CS(COMM) 857/2022 Page 18 of 21 The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.
CS(COMM) 857/2022 Page 19 of 21 The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.
CS(COMM) 857/2022 Page 20 of 21 The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.
5.
Clause 6.1 read with 6.3 of the Settlement Agreement indicates that within 07 (seven) days of execution of the Settlement Agreement and receipt of the first tranche, the proceedings before the NCLT and the present Suit will be withdrawn by the Plaintiff.
6.
In view of the above, the Plaintiff has filed the present application seeking withdrawal of the present Suit.
7.
This Court has gone through the Settlement Agreement dated 21.11.2025, terms of which are legal and lawful. 8.
In view of the fact that settlement has been arrived at between the Parties, the Suit is disposed of in terms of Order XXIII Rule 3 of the CPC and the Settlement Agreement dated 21.11.2025 entered into between the Parties. Pending applications, if any, also stand disposed of. 9.
Let the Decree Sheet be prepared accordingly. 10.
The Parties shall be bound by the terms of the Settlement Agreement dated 21.11.2025.
11.
In view of the fact that the Parties have entered into a settlement and in view of the Judgment passed by the Division Bench of this Court in Nutan Batra v. Buniyaad Associates, 2018 SCC OnLine Del 12916, this Court is inclined to direct the refund of Court Fees. 12.
Let the Court Fee be refunded in accordance with Section 16 of the Court Fees Act, 1870.
13.
The applications are disposed of in the aforesaid terms. SUBRAMONIUM PRASAD, J JANUARY 28, 2026 S. Zakir CS(COMM) 857/2022 Page 21 of 21 The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.