Capital First Ltd. v. Jattin Jaggi & Other

$~38 * IN THE HIGH COURT OF DELHI AT NEW DELHI + OMP (ENF.) (COMM.) 121/2017 & IA No.11930/2017 (for attachment) CAPITAL FIRST LTD.

..... Decree Holder Through:

Mr.Sujit Kumar, Adv.

versus JATTIN JAGGI & OTHER ..... Judgement Debtors Through:

Mr.Sahil Chawla, Adv. for JD-1 to 4.

CORAM:

HON'BLE MS. JUSTICE REKHA PALLI

O R D E R

% 06.02.2020 1.

The present petition under Section 36 of the Arbitration and Conciliation Act, 1996 seeks enforcement of the award dated 28.03.2017 passed by the Sole Arbitrator.

2.

During the pendency of the present petition, the parties were referred to Delhi High Court Mediation and Conciliation Centre where they have arrived at an amicable settlement and the terms thereof have been recorded in the agreement dated 30.01.2020. 3.

In accordance with the settlement agreement, the judgment debtors have agreed to pay a sum of Rs.26,36,313/- to the decree holder in three instalments. The first instalment of Rs.10 lakh was payable on 21.01.2020, which amount is stated to have already been paid. The remaining amount is payable by the judgment debtor in

two instalments, the first instalment of Rs.8 lakh being payable by 28.02.2020 and the second instalment of Rs.8,36,313/- being payable by 27.03.2020.

4.

Learned counsel for the parties, therefore, jointly pray that the petition be disposed of in terms of the settlement agreement. 5.

In view of the aforesaid settlement arrived at between the parties, nothing further survives for adjudication. The parties shall remain bound by the terms of the settlement.

6.

The petition is disposed of in terms of the settlement. REKHA PALLI, J FEBRUARY 06, 2020 gm