M/S Sehgal Electrical India v. Hari Shankar Sharma

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IN THE HIGH COURT OF DELHI AT NEW DELHI

+ W.P.(C) 8070/2015 and C.M. Appl. 16674/2015 M/S SEHGAL ELECTRICAL INDIA ..... Petitioner Through:

Mr. Pankaj Jaiswal and Mr. Pawan Yadav, Advocates versus HARI SHANKAR SHARMA ..... Respondent Through:

Mr. M.L. Sharma and Mr. A.K.

Sharma, Advocates

CORAM:

HON'BLE MR. JUSTICE J.R. MIDHA

O R D E R

% 22.02.2017 1.

The respondent and the proprietor of the petitioner, present in Court, have settled the matter before this Court.

As per the settlement, the petitioner shall pay a sum of Rs.2 lakh to the respondent in full and final settlement. The settlement amount includes the amount already deposited by the petitioner and the interest accrued thereon. 2.

The petitioner had deposited a sum of Rs.1,25,000/- with the Registrar General of this Court in terms of the order dated 24th August, 2015 and the said amount is lying in fixed deposit. The Registrar General is directed to disburse the said amount to the respondent by instructing UCO Bank, Delhi High Court Branch to discharge the FDR and keep a sum of Rs.1 lakh in five FDRs of Rs.20,000/- each for the periods 1 month, 2 months, 3 months, 4 months and 5 months respectively with cumulative interest. 3.

The balance amount after keeping Rs.1 lakh in 5 FDRs be released to the respondent by transferring the same to his savings bank account

No.10570026944 with State Bank of India, West Market, Nizamuddin Branch (IFSC Code: SBIN0009109).

4.

The petitioner shall deposit the balance settlement amount after adjusting the maturity amount of the FDR with UCO Bank, Delhi High Court Branch by means of a cheque drawn in the name of UCO Bank A/c Hari Shankar within four weeks. The petitioner shall ascertain the maturity amount of the FDR from UCO Bank, Delhi High Court Branch before depositing the balance amount.

5.

Upon deposit of the balance amount, UCO Bank, Delhi High Court Branch shall keep the amount deposited by the petitioner in two FDRs of equal amount in the name of the respondent for the period 6 months and 7 months respectively with cumulative interest. The maturity amount of the FDRs shall be transferred to the savings bank account of the respondent in the manner mentioned above.

6.

The writ petition is disposed of in terms of the settlement between the parties.

7.

List for reporting compliance on 23rd March, 2017. 8.

Pending application is disposed of.

9.

This Court appreciates the assistance rendered by learned counsels for the parties in resolving this matter.

10.

Copy of this order be given dasti to counsels for the parties under signatures of the Court Master.

J.R. MIDHA, J.

FEBRUARY 22, 2017 rsk