Ircon International v. Hindustan Construction Co Ltd

$~43 & 44 *

IN THE HIGH COURT OF DELHI AT NEW DELHI

(43) + FAO(OS) (COMM) 173/2018 IRCON INTERNATIONAL LTD ..... Appellant versus HINDUSTAN CONSTRUCTION CO LTD ..... Respondent (44) + FAO(OS) (COMM) 174/2018 IRCON INTERNATIONAL ..... Appellant versus HINDUSTAN CONSTRUCTION CO LTD ..... Respondent

Present:

Mr.Prakhar Deep, Mr.Nishant Doshi, and Mr.Nitin Sharma, Advocates for IRCON.

Mr.Dayan Krishnan, Sr Advocate with Mr.Rishi Agarwala, Ms.Shruti Arora, Mr.Jimut Mohapatra and Mr.Shreedhar Kale, Advocates for HCCL.

CORAM:

HON'BLE MR. JUSTICE VIBHU BAKHRU HON'BLE MS. JUSTICE TARA VITASTA GANJU

O R D E R

% 29.05.2024 CM APPL. 33034/2024 (direction) in FAO(OS) (COMM) 173/2018 CM APPL. 32973/2024(direction) in FAO(OS) (COMM) 174/2018 1.

These applications have been filed by the appellant for withdrawal of the above captioned appeals. It is stated that the parties have settled their disputes under the 'Vivad Se Vishwas Scheme II'. 2.

The appeals are dismissed as withdrawn.

3.

It is pointed out that in terms of the order dated 09.10.2018 the respondent had furnished the unconditional bank guarantee equal to the amount that was released, in order to protect the interest of the appellant. Since the appeals are disposed of in view of the settlement arrived at between the parties, the said bank guarantees are required to be discharged. 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 01/06/2024 at 12:35:57

4.

The Registry is directed to forthwith release the bank guarantee furnished by the respondent in terms of the order dated 09.10.2018 to the respondent.

5.

It is clarified that if in terms of the settlement between the parties any excess amount is paid to the respondent, the respondent would be liable to refund the same to the appellant.

6.

The applications stand disposed of in above terms. 7.

The hearing scheduled on 11.09.2024 stands cancelled. 8.

Copy of the order be given dasti under signature of the Court Master to both the parties.

VIBHU BAKHRU, J TARA VITASTA GANJU, J MAY 29, 2024 M Click here to check corrigendum, if any 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 01/06/2024 at 12:35:57