Ntpc Limited v. Amr India Ltd.

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IN THE HIGH COURT OF DELHI AT NEW DELHI

+ O.M.P. (COMM) 353/2018 NTPC LIMITED ..... Petitioner Through:

Mr. Tankeshwar Nath, Mr. Akash Kumar and Mr. H. Singh, Advocates.

versus AMR INDIA LTD.

..... Respondent Through:

Mrt. Brijesh Kumar Goel, Mr. Rajeev Kumar and Mr.

Sajal Goel, Advocates.

CORAM:

HON'BLE MS. JUSTICE NEENA BANSAL KRISHNA

O R D E R

% 24.05.2024 I.A. 30314/2024 (under Section 151 CPC on behalf of respondent for Directions) 1.

An application has been filed on behalf of the respondent for release of the Settlement amount to the respondent from the amount already deposited by the petitioner.

Pursuant to the Settlement Agreement dated 20.05.2024 which has been duly signed by the parties, it is submitted that the settlement amount of Rs.3,84,98,676/- is to be released to the respondent out of the deposited award amount of Rs.3,98,72,773/-, so deposited by the petitioner on 24.09.2018. However, now the petitioner is withdrawing the entire amount and thereby preparing a cheque of the balance amount to be handed over to the respondent.

2.

It is submitted that this is taking inordinate delay, whereby the The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 30/05/2024 at 12:15:43

respondent is losing the interest on the fixed amount. Therefore, a prayer is made that directions be given to the Registry to forthwith release the settlement amount to the respondent award holder. 3.

Learned counsel for the petitioner submits that the parties had arrived at a settlement and as per the statement of the respondent himself the settlement has been signed on 20.05.2024. As per the terms of settlement, the amount has to be handed over to the respondent within thirty days. The process has already been commenced and necessary approvals have been received. The cheque shall be released to the respondent within 30 days of the settlement as has been provided in the Agreement itself. 4.

In view of the settlement inter se the parties, no further directions are required from this Court. However, the respondent shall be at liberty to file Contempt in case the petitioner fails to abide by the terms of settlement. NEENA BANSAL KRISHNA, J MAY 24, 2024/va The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 30/05/2024 at 12:15:43