M/S Gwalior Hotles (P) Ltd. v. Ircon Infrastructure & Serivces Limited

$~41 * IN THE HIGH COURT OF DELHI AT NEW DELHI + O.M.P.(I) (COMM.) 173/2018 M/S GWALIOR HOTLES (P) LTD.

..... Petitioner Through: Mr.C.P.Malik, Adv.

versus IRCON INFRASTRUCTURE & SERIVCES LIMITED ..... Respondent Through: Mr.Anil Seth, Adv.

CORAM:

HON'BLE MR. JUSTICE NAVIN CHAWLA

O R D E R

% 20.04.2018 IA No.5308/2018 Exemption allowed, subject to all just exceptions. O.M.P.(I) (COMM.) 173/2018 Counsel for the parties submit that the parties have arrived at an amicable settlement. In terms of the said settlement, the petitioner shall pay an amount of Rs.50 lacs to the respondent within 15 days from today and a further sum of Rs.50 lacs will be paid within 15 days thereafter. The balance amount shall be paid in 6 equal monthly instalments. In addition to the above, the petitioner shall continue to pay the monthly rental in terms of the Sub-Lease Agreement. Subject to the compliance of the above conditions, the respondent shall not give effect to the termination notice. Recording the above statement of the parties, the petition is disposed of.

NAVIN CHAWLA, J APRIL 20, 2018 RN