Allied Glasses (Uttaranchal) v. C. R. S. Infra Projects Limited

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IN THE HIGH COURT OF DELHI AT NEW DELHI

+ CO.PET. 632/2015 & CO.APPL. 2502-2503/2015 ALLIED GLASSES (UTTARANCHAL) ..... Petitioner Through:

Mr. Tarun Rana, Advocate.

versus C. R. S. INFRA PROJECTS LIMITED ..... Respondent Through:

Mr. Ankit Jain, Advocate.

CORAM:

HON'BLE MR. JUSTICE SIDDHARTH MRIDUL

O R D E R

% 24.04.2017 Learned counsel appearing on behalf of the parties in unison state that the latter have arrived at an amicable resolution of the underlying dispute, with the aid and assistance of the Delhi High Court Mediation and Conciliation Centre vide Settlement Agreement dated 16.02.2017. The aforesaid Settlement Agreement dated 16.02.2017 is on record. The agreement entered into between the parties is lawful and the same is accepted, leaving the parties to abide by their reciprocal obligations, without demur.

In terms of the aforesaid Settlement Agreement dated 16.02.2017 the following post-dated cheques have been given by the respondent-company to the petitioner:- S.No.

Cheque No.

Dated Drawn on Amount 1.

000353 16.02.2017 Kotak Mahindra 1,00,000/-

Bank, Vikaspuri, New Delhi 2.

000354 20.03.2017 -do1,00,000/- 3.

000355 20.04.2017 -do1,00,000/- 4.

000356 20.05.2017 -do1,00,000/- 5.

000357 20.06.2017 -do1,00,000/- 6.

000358 20.07.2017 -do1,00,000/- Learned counsel appearing on behalf of the respondent undertakes that the aforesaid post-dated cheques shall be duly honoured and sufficient funds shall be maintained in the account at all relevant times. The undertaking is accepted.

In view of the foregoing, learned counsel appearing on behalf of the petitioner seeks leave to withdraw the present petition with liberty to revive the same in the event the respondent-company defaults in performing its obligations under the aforesaid settlement.

Leave and liberty granted. The petition is dismissed as withdrawn and disposed of accordingly.

SIDDHARTH MRIDUL, J APRIL 24, 2017 mk