Darcl Logistics Limited v. Punj Lloyd Limited

$~40 *

IN THE HIGH COURT OF DELHI AT NEW DELHI

+ CO.PET. 487/2016 and Co. Appl. No. 2061/2016 DARCL LOGISTICS LIMITED ..... Petitioner Through Mr. Manu Beri, Advocate versus PUNJ LLOYD LIMITED ..... Respondent Through Mr. Manu Krishnan and Mr. Akshay Sharma, Advocates

CORAM:

HON'BLE MR. JUSTICE SIDDHARTH MRIDUL

O R D E R

% 24.11.2016 Co. Appl. No. 4665/2016 The present is a joint application filed on behalf of the parties under Rule 9 of the Companies (Court) Rules, 1959 read with Section 151 of the Code of Civil Procedure, 1908 praying as follows:- "(i) Take on record Annexure A hereto and dispose of the present Petition in terms of the Settlement Agreement dated 17 August 2016;

(ii) pass such other order as this Hon'ble Court may deem fit and proper in the facts of the case."

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 and the terms and conditions of the settlement are enshrined in the Settlement Agreement dated 17th August, 2016 and the same is annexed as Annexure-'A' to the present application.

The Settlement Agreement dated 17th August, 2016 entered into between the parties is lawful and the same is taken on record.

The parties shall abide by the terms and conditions of the said Settlement Agreement dated 17th August, 2016 without demur. The application is disposed of accordingly.

CO.PET. 487/2016 and Co. Appl. No. 2061/2016 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.

Leave granted.

The present company petition is dismissed as withdrawn and disposed of accordingly.

Pending application seeking appointment of Provisional Liquidator also stands disposed of.

SIDDHARTH MRIDUL, J NOVEMBER 24, 2016 sd