Sachdeva Prints Arts(P) Ltd v. Paramount Impex(P) Ltd

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IN THE HIGH COURT OF DELHI AT NEW DELHI

+ CO.PET. 512/2013 & Co. Appl. Nos.1726/2013, 1378/2014 SACHDEVA PRINTS ARTS(P) LTD ..... Petitioner Through:

Mr. M.K. Chawla, Advocate.

versus PARAMOUNT IMPEX(P) LTD ..... Respondent Through:

Mr. Mukesh Sukhija, Advocate with Mr. Rajeev Gupta, Director.

CORAM:

HON'BLE MR. JUSTICE SIDDHARTH MRIDUL

O R D E R

% 10.04.2017 Learned counsel appearing on behalf of the parties, state in unison, that the underlying dispute that led to the institution of the present company petition has been amicably settled by and between the parties. In terms of the settlement, learned counsel appearing on behalf of the respondent company has handed over to the counsel appearing on behalf of the petitioner company, two cheques in the sum of Rs.2 lacs each, bearing Nos.003042 dated 20.04.2017, and 003044 dated 20.05.2017, drawn on HDFC Bank in favour of latter.

Learned counsel appearing on behalf of the respondent company, on instructions from the Director, who is present in person, undertakes that the aforesaid cheques shall be honoured on presentation and they shall ensure that sufficient funds are available in the account from which the cheques have been issued, at all relevant times. The said undertaking is accepted.

Learned counsel appearing on behalf of the petitioner acknowledges the receipt of the said cheques, subject to encashment, towards full and final settlement of their claims. In view of the settlement arrived at between the parties as aforesaid, learned counsel appearing on behalf of the petitioner seeks leave to withdraw the present company petition with liberty to revive the same in the event the cheques or any of them are dishonoured. Leave and liberty granted.

Consequently, the accompanying company petition is dismissed as withdrawn and disposed of accordingly.

Pending applications, if any, also stand disposed of.

SIDDHARTH MRIDUL, J.

APRIL 10, 2017 'AA'