Jennmar Spain S.A.U v. Geo Constech Private Limited

$~CP-19 *

IN THE HIGH COURT OF DELHI AT NEW DELHI

+ CO.PET. 692/2014 JENNMAR SPAIN S.A.U ..... Petitioner Through Mr.Shikhil Suri and Ms. Vimshma Kaul, Advs.

versus GEO CONSTECH PRIVATE LIMITED ..... Respondent Through Mr.Rajat Sehgal, Adv.

CORAM:

HON'BLE MR. JUSTICE JAYANT NATH

O R D E R

% 18.05.2018 The parties have entered into a settlement agreement dated 24.04.2018 before Delhi High Court Mediation and Conciliation Centre. In terms of the settlement agreement, the petitioner has to withdraw the present winding up petition. The respondent have also agreed to pay a sum of USD 95,000 in full and final settlement in a phased manner as indicated in the settlement agreement. It has also been agreed that in case there is a default by the respondent, the petitioner shall have the liberty to revive the present winding up petition.

The parties shall remain bound by the terms and conditions of the settlement agreement.

Petition is dismissed as withdrawn.

However, liberty is granted to the petitioner to seek revival of the

winding up petition in the eventuality of any default on the part of the respondent.

The Mediation Centre has not sent the settlement agreement. The parties have however placed on record a photocopy of the settlement agreement dated 24.04.2018. The same is sent to the Registry for scanning. JAYANT NATH, J MAY 18, 2018 rb