Steel Authority Of India Ltd v. Essar Shipping Ltd.
$~53 & 54 *
IN THE HIGH COURT OF DELHI AT NEW DELHI
+ O.M.P. (COMM) 402/2016 STEEL AUTHORITY OF INDIA LTD ..... Petitioner versus ESSAR SHIPPING LTD.
..... Respondent + OMP (ENF.) (COMM.) 116/2016 ESSAR SHIPPING LTD., ..... Decree Holder versus STEEL AUTHORITY OF INDIA LTD.
..... Judgement Debtor Appearances:
Mr. Ashish Tiwari, Mr. Anurag Tiwari, Mr. Sahib Patel, Advocates for SAIL.
Mr. Dayan Krishan, Sr. Advocate with Mr. Vivek Jain, Mr. Mrinal Bharti, Mr. Manish S., Ms. Sanjana Srivastava, Advocates for Essar Shipping Ltd.
CORAM:
HON'BLE MR. JUSTICE PRATEEK JALAN
O R D E R
% 20.05.2024 I.A. 29853/2024 (for withdrawal of petition) & O.M.P. (COMM) 402/2016 EX.APPL.(OS) 812/2024 (for withdrawal of petition) & O.M.P. (ENF.) (COMM.) 116/2016 1.
Learned counsel state that the disputes between the parties have been settled under the Vivad Se Vishawas II Scheme. A copy of the Settlement Agreement dated 14.05.2024 has been placed on record. 2.
Learned counsel on both sides seek permission to withdraw these proceedings in view of the settlement.
O.M.P. (COMM) 402/2016 & connected matter.
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3.
It is also agreed that the amounts of Rs.25 crores and Rs.165 crores deposited by Steel Authority of India Ltd. ["SAIL"], pursuant to order of this Court dated 22.05.2018 in O.M.P.(ENF.)(COMM.) 116/2016 and order of the Supreme Court dated 26.11.2018 in SLP(C) 23144/2018, are to be released to Essar Shipping Ltd. ["Essar"], alongwith interest accrued thereupon. The Registry is directed to release the said amounts to Essar by remittance to the bank account mentioned in Clause I of the Settlement agreement which is as follows:- Company Name Essar Shipping Limited Bank Name State Bank of India Bank Branch Overseas Branch, Cuffe Parade, Mumbai Account No.
30430975688 IFSC Code SBIN0004791 4.
Learned counsel point out that certain additional amounts are also to be paid by SAIL to Essar. Learned counsel for SAIL states that the payments will be made in terms of the Settlement Agreement. 5.
In view of the above, the applications are allowed and O.M.P. (COMM) 402/2016 and O.M.P. (ENF.) (COMM.) 116/2016 are disposed of in these terms.
PRATEEK JALAN, J MAY 20, 2024 "Bhupi"/ O.M.P. (COMM) 402/2016 & connected matter.
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 22/05/2024 at 12:04:01