Icici Bank Ltd v. Dsc Ltd & ORS

$~18 *

IN THE HIGH COURT OF DELHI AT NEW DELHI

+ CS(COMM) 161/2016 ICICI BANK LTD ..... Plaintiff Through:

Mr. Suresh Dobhal & Mr. Vugank Goel, Advs.

versus DSC LTD & ORS ..... Defendants Through:

Mr. Abhishek Bansal, Adv.

CORAM:

HON'BLE MR. JUSTICE R.K.GAUBA

O R D E R

% 24.01.2017 IA No. 14064/2016 (under Section 151 CPC) By order dated 24.11.2016, on the application (IA No. 14250/2016) with no objection by the contesting parties, Phonix ARC Pvt. Ltd. assignee of original plaintiff ICICI Bank Ltd. was allowed to take over the suit and be substituted as the plaintiff.

The registry shall take note of the change in cause title pursuant to order dated 24.11.2016. By the application at hand (IA No. 14064/2016), the substituted plaintiff prays for disposal of the suit in terms of settlement arrived at between the applicant on one hand and defendants 1 to 8 on the other, as was submitted by joint application for compromise before the Debt Recovery Tribunal (I), Delhi.

The learned counsel for the applicant/substituted plaintiff clarifies that he does not seek any decree to be passed in terms of the settlement which had been set out in the said joint application which was presented before the Debt Recovery Tribunal since that forum has already passed the necessary order thereupon. In that view of the matter, the CS(COMM) 161/2016

prayer made in the application is granted. The application accompanied by the terms of settlement as set out in the joint application is taken on record and the suit is treated as disposed of.

Parties are left to bear their own costs.

R.K.GAUBA, J JANUARY 24, 2017 nk CS(COMM) 161/2016