Si Group- India Limited v. Ansa Brakes Private Limited

$~60 * IN THE HIGH COURT OF DELHI AT NEW DELHI + CO.PET. 449/2014 SI GROUP- INDIA LIMITED ..... Petitioner Through:

Ms.Deeksha L. Kakar, Advocate.

Versus

ANSA BRAKES PRIVATE LIMITED ..... Respondent Through:

Mr.Vikram Kumar, Advocate.

CORAM:

HON'BLE MR. JUSTICE SUDERSHAN KUMAR MISRA

O R D E R

% 29.07.2016 CA No.2692/2016 (for exemption) Exemption, as prayed for, is allowed, subject to all just exceptions. This application is disposed off.

CA No.2691/2016 This application has been moved by the applicant/respondent seeking extension of 30 days in paying balance dues to the respondent which is stated to be Rs.10,00,000/- out of Rs.68,00,000/- agreed to be paid by the respondent to the petitioner in all terms of the settlement recorded between the parties on 06.07.2015 before the Mediator. Issue notice.

Counsel for the petitioner accepts notice and states that she does not wish to file any reply to this application and consequently, she has no objection to this extension being granted provided that there is no violation of the time limit now being granted.

Counsel for the applicant/respondent, on instructions from his clients, specifically undertakes to this Court that the said payment shall be made within the time now being sought and that all other instalments shall be paid as per the agreed schedule. This undertaking is accepted by this Court and the respondent shall remain bound by the same. The application is disposed off.

SUDERSHAN KUMAR MISRA, J.

JULY 29, 2016 sb