Daikin Airconditioning India Pvt Ltd. v. Vardhman Precision Profiles And Tubes Pvt Ltd.
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IN THE HIGH COURT OF DELHI AT NEW DELHI
+ CO.PET. 600/2014 and Co. Appl. 2273/2014 DAIKIN AIRCONDITIONING INDIA PVT LTD. ..... Petitioner Through Mr. Rashid Ali, Advocate versus VARDHMAN PRECISION PROFILES AND TUBES PVT LTD.
..... Respondent Through None
CORAM:
HON'BLE MR. JUSTICE SIDDHARTH MRIDUL
O R D E R
% 08.12.2016 Learned counsel appearing on behalf of the petitioner seeks leave to withdraw the present petition, in view of the circumstance that the underlying dispute that led to the institution of the present company petition, has been amicably settled between the parties, with the aid and assistance of Delhi High Court Mediation and Conciliation Centre.
The terms of settlement have culminated into a Settlement Agreement dated 6th December, 2016, whereby a sum of Rs.50,000/- has been received by the petitioner, by way of a cheque bearing No.027239 dated 05.12.2016 drawn on Bank of India, Ansari Road Branch, Delhi, towards full and final settlement of their claim against the respondent company.
Learned counsel further seeks liberty to revive the present petition in the event of any default on the part of the respondent company in complying with the obligations mentioned in the said Settlement Agreement dated 6th December, 2016.
The said Settlement Agreement dated 6th December, 2016 is lawful and the same is hereby accepted and taken on record. The parties shall abide by the
terms and conditions of the said Settlement Agreement, without demur. Leave and liberty granted.
In view of the foregoing, the present company petition is dismissed as withdrawn whilst reserving liberty to revive the present petition, in the event of any default on the part of the respondent company in complying with the obligations mentioned in the said Settlement Agreement dated 6th December, 2016, in accordance with law.
The petition is disposed of.
Pending applications, if any, also stand disposed of.
SIDDHARTH MRIDUL, J DECEMBER 08, 2016 sd