Sahaj E-Village Limited v. Oriental Insuranc Company Limited

$~65 *

IN THE HIGH COURT OF DELHI AT NEW DELHI

+ CO.PET. 703/2016 SAHAJ E-VILLAGE LIMITED ..... Petitioner Through:

Ms. Tamali Wad and Ms. Anna Malhotra, Advocates.

versus ORIENTAL INSURANC COMPANY LIMITED ..... Respondent Through:

Mr. Vishnu Mehra, Advocate.

CORAM:

HON'BLE MR. JUSTICE SIDDHARTH MRIDUL

O R D E R

% 30.03.2017 CO.APPL. 694/2017 Learned counsel appearing on behalf of the parties in unison state that the latter have arrived at an amicable resolution of the underlying dispute, the terms of which are recorded in a settlement deed dated 20.03.2017, which has been placed on record along with present application. In pursuance to the aforesaid settlement deed dated 30.03.2017, Mr. Mehra, learned counsel appearing on behalf of the respondent-company has handed over to the petitioner a demand draft No.960269 dated 29.03.2017 drawn on Punjab National Bank, Brabourne Road, Kolkata- 700001, in the sum of Rs. 1,73,08,103/-.

Mr. Mehra, further goes on to clarify that the amount reflected in the above mentioned draft is not the same as the one mentioned in the terms of settlement deed dated 20.03.2017, in view of the TDS deducted in accordance with law.

The agreement entered into between the parties is lawful and the same is

accepted, leaving the parties to comply with the terms and conditions thereof without demur.

In view of the above the present application is allowed and disposed of accordingly.

CO.PET. 703/2016 In view of the foregoing, learned counsel appearing on behalf of the petitioner seeks leave to withdraw this petition with liberty to revive the same in the event the terms of the settlement are not complied with by the respondent company.

Leave and liberty is granted. The petition is dismissed as withdrawn. The date already fixed in the petition, i.e., 25.07.2017 stands cancelled. SIDDHARTH MRIDUL, J MARCH 30, 2017 mk