Green Timber & Plywood v. N.S. Interior Contracts Pvt. Ltd.

$~CP-22 *

IN THE HIGH COURT OF DELHI AT NEW DELHI

+ CO.PET. 296/2016 GREEN TIMBER & PLYWOOD ..... Petitioner Through Mr.Kailash Chandra, Adv.

versus N.S. INTERIOR CONTRACTS PVT. LTD. ..... Respondent Through Mr.Kartik Nagarkatti, Adv. with Mr.Bhushan Verma, AR of the respondent

CORAM:

HON'BLE MR. JUSTICE JAYANT NATH

O R D E R

% 10.04.2018 Parties have settled the matter before the Delhi High Court Mediation and Conciliation Centre. The said Mediation Centre has forwarded its report dated 11.1.2018. As per the Settlement it has been noted that the parties have agreed that the respondent shall pay to the petitioner a sum of Rs.8,00,000/- in four equal instalments in full and final settlement of all the claims qua the present company petition and in the Civil Suit. On the said date the respondent had also handed over three post-dated cheques to the petitioner of Rs.2,00,000/- each which have duly been encashed. Today was the date for making payment of the fourth and final instalment of Rs.2,00,000/-. The respondent has handed over today a cheque of Rs.2,00,000/- to learned counsel for the petitioner. However, on the request of respondent learned counsel for the petitioner submits that the cheque shall not be presented to the bankers of the respondent for the next three weeks.

Mr.Bhushan Verma, AR of the respondent company who is present in court undertakes that the cheque when presented after three weeks will be duly encashed.

In view of the above, the present petition is disposed of. In the eventuality there is a default on the part of the respondent, liberty is granted to the petitioner to take steps, as per law, including revival of the present winding up petition.

All pending applications, if any, also stand disposed of. JAYANT NATH, J APRIL 10, 2018 n