M/S Network India v. M/S H S Oberoi Buildtech Pvt Ltd & ORS
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IN THE HIGH COURT OF DELHI AT NEW DELHI
+ FAO 254/2017 M/S NETWORK INDIA ..... Appellant Through:
Mr. Sermon Rawat, Advocate.
Versus
M/S H S OBEROI BUILDTECH PVT LTD & ORS...... Respondents Through:
Mr. S.K. Bhaduri and Mr. Puneet Verma, Advocates with Mr. H. S.
Oberoi, Managing Director of Respondent No. 1 in person.
CORAM:
HON'BLE MR. JUSTICE NAJMI WAZIRI
O R D E R
% 05.03.2018 After arguments had been addressed on the previous occasion, the learned counsel for the parties had expressed a hope that the case may well be settled amicably. Mr. H. S. Oberoi, the Managing Director of respondent No. 1 in person is present in the Court.
The learned counsel for the parties state that after a couple of rounds of discussions today, the parties have happily settled the lis amicably, as under:- (i) In settlement of all of his claims against the respondent No.1, the appellant shall be paid an amount of Rs.2,81,000/-, which shall be paid into the bank account of the appellant being 90501010003490 maintained with the Syndicate Bank, in three equal instalments; the first instalment shall be paid on 20th March, 2018 and the other two on 20th day of April and May, 2018.
(ii) Any infraction of the payment, either in terms of the quantum or by the date, shall automatically be visited with a cost of Rs.10,000/- for each infraction, which shall also be deposited in the aforesaid account within 15 days thereof.
The learned counsel for the parties assure upon instructions that the parties undertake to abide by the terms of the settlement. Their undertaking is accepted. Additionally, the parties shall file their respective undertakings within a week, in terms of the aforesaid settlement. The learned counsel for the appellant submits that since a beginning has been made in this case for settling the lis between the appellant and the respondent No.1 concerning the project at Dadri, Uttar Pradesh, they will endeavour to settle the other lis and the criminal complaint pertaining to another project at Lucknow, Uttar Pradesh.
The lis having been settled as aforesaid, the appeal is disposed off accordingly.
A copy of this order be given dasti to the learned counsel for the parties under the signature of the Court Master. NAJMI WAZIRI, J.
MARCH 05, 2018 sb