Milestones Engineering Pvt Ltd v. Boutique Hotels India Private Limited

$~25 * IN THE HIGH COURT OF DELHI AT NEW DELHI + CO.PET. 586/2014 & CO. APPL. NO. 2195/2014 MILESTONES ENGINEERING PVT LTD ..... Petitioner Through:

Mr. Sachin Jain, Advocate versus BOUTIQUE HOTELS INDIA PRIVATE LIMITED ..... Respondent Through:

Mr. Moinuddin Khan, Advocate

CORAM:

HON'BLE MR. JUSTICE SUDERSHAN KUMAR MISRA

O R D E R

% 04.05.2016 Both counsel state that the dispute between the parties has been settled in terms of an agreement recorded on 02.05.2016 before the Delhi High Court Mediation & Conciliation Centre. A copy of the said agreement has also been handed over at the Bar. The same is taken on record. Both counsel approbate the contents of the settlement and undertake to this Court on behalf of their respective clients to remain bound by the terms of the same. In particular, counsel for the respondent undertakes on behalf of his client to remain bound by the terms of payment that have been set down in paragraph 1, and that the cheque dated 02.05.2016 bearing No.318172 for Rs. 25 Lacs which has also been handed over to the petitioner in terms of the said settlement shall be duly honoured on presentation.

CO.PET. 586/2014

The undertakings of both parties are accepted by the Court and they shall remain bound by the same.

It is made clear that in case of any violation of the agreement, it would be open to the petitioner to institute any fresh proceedings for winding up of the respondent company on the grounds taken in the instant petition, as well as any further grounds that may be afforded to it besides initiating proceedings in contempt against the respondent. Counsel for the petitioner states that under the circumstances, he does not wish to press this petition any further and that the matter be disposed off in terms of the aforesaid settlement.

It is ordered accordingly.

Both the petition and the pending applications stand disposed off. SUDERSHAN KUMAR MISRA, J.

MAY 04, 2016 rd CO.PET. 586/2014