United Electrical Industries Ltd. v. Eppleton Engineers Pvt Ltd. & ORS.

$~13 * IN THE HIGH COURT OF DELHI AT NEW DELHI + O.M.P. (COMM) 137/2018 & IA 4305/2018 UNITED ELECTRICAL INDUSTRIES LTD.

..... Petitioner Through: Mr.Jaideep Gupta, Sr. Adv. with Mr.G.Prakash, Mr.Jishnu, Advs.

versus EPPLETON ENGINEERS PVT LTD. & ORS.

..... Respondents Through: Ms.Prabhsahay Kaur, Ms.Shruti Gala, Advs. for R-2-3.

Mr.Suhail Dutt, Sr. Adv. with Mr.Ninad Dogra, Mr.Sankalp, Advs. for R-1.

Mr.Rohit Chowdhary, Director of respondent no.1.

CORAM:

HON'BLE MR. JUSTICE NAVIN CHAWLA

O R D E R

% 15.03.2019 The parties have entered into a settlement with the petitioner agreeing to pay an amount of Rs.2,48,00,000/- (Rupees Two Crores Forty Eight Lacs only) to the respondent no.1 in full and final satisfaction of the Award. Mr.Rohit Chowdhary, Director of respondent no.1 is present in Court. He submits that this offer is acceptable to respondent no.1.

In view of the settlement, the present petition is disposed of directing that the amount deposited by the petitioner in the Registry of this Court pursuant to the order dated 03.04.2018 read with order dated 11.04.2018 be released in favour of the respondent no.1. It is further agreed that while calculating the remaining amount payable by the petitioner to the respondent no.1, the principal amount

so deposited by the petitioner with the Registry of this Court shall the one be accounted for. The remaining amount shall be released within four weeks from today by the petitioner in favour of the respondent no.1 in terms of the settlement.

The petition is disposed of recording the above settlement. Dasti.

NAVIN CHAWLA, J MARCH 15, 2019 RN