High Court of DelhiCS(COMM)/702/2017

Engineering Projects(India) Limited v. Mizoram Rural Bank

2026-04-06Hon'Ble Mr. Justice Subramonium Prasad11 pages

$~2 * IN THE HIGH COURT OF DELHI AT NEW DELHI + CS(COMM) 702/2017 & I.A. 8151/2026 ENGINEERING PROJECTS(INDIA) LIMITED .....Plaintiff Through:

Mr. Arav Kapoor & Mr. Raghwendra Pratap Rao, Advs.

versus MIZORAM RURAL BANK .....Defendant Through:

Mr. Aditya Nayyar & Mr. Anubhav Seth, Advs.

CORAM:

HON'BLE MR. JUSTICE SUBRAMONIUM PRASAD

O R D E R

% 06.04.2026 I.A. 7213/2026 1.

The present Application has been filed by the Plaintiff under Order XXIII Rule 3 of the CPC, seeking disposal of the present Suit in terms of the settlement arrived at between the parties vide a Settlement Agreement dated 21.01.2026.

The present Suit has been filed with the following prayers: "(I) decree in favour of the plaintiff company against the defendant bank in the amount of Rs.1,18,37,396/- (Rupees One Crore Eighteen Lakhs Thirty Seven Thousand Three Hundred Ninety Six only) including the principal amount of Rs.1,05,69,102/- along with interest thereon @ 18% per annum with effect from 1.1.2009 upto 31.8.2009 amounting to Rs.12,68,293/-. The future interest may also kindly be awarded in favour of the plaintiff and against the defendant bank The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.

till final recovery and realization of the amount; (II) complete cost of the present suit including the court fee/stamp papers and professional fee incurred by the plaintiff company may also kindly be awarded in favour of the plaintiff and against the defendant bank. Any other order and decree that this Hon'ble Court may deem fit and proper may also kindly be passed in favour of the plaintiff company and against the defendant bank."

It is stated that during the pendency of the present Suit, the Parties were referred to the Delhi High Court Mediation and Conciliation Centre for exploring the possibility of an amicable settlement. It is stated that the Parties have entered into a Settlement Agreement dated 21.01.2026, which is being reproduced as under:

The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.

A perusal of Clause 3 of the Settlement Agreement indicates that on The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.

the payment of the entire amount under the Settlement Agreement, the Plaintiff shall withdraw the present Suit. It is stated by the learned Counsel for the Plaintiff that the Plaintiff has received the entire amount and, therefore, in terms of the Settlement Agreement, the Plaintiff is praying for withdrawal of the Suit. Under the Settlement Agreement, reciprocal obligations are also to be performed by the Parties. A security deposit for a sum of Rs.1,18,37,396/- has to be made over by the Plaintiff to the Defendant.

This Court has gone through the Settlement Agreement dated 21.01.2026, the terms of which are legal and lawful. The Settlement Agreement has been signed by the Parties.

In view of the fact that a settlement has been arrived at between the Parties, the Suit is disposed of in terms of the Settlement Agreement dated 21.01.2026 entered into between the Parties. Pending applications, if any, also stand disposed of.

The Parties shall be bound by the terms of the Settlement Agreement dated 21.01.2026. Violation of any of the terms of the Settlement Agreement dated 21.01.2026 shall amount to a breach of the undertaking given to the Court.

The Registrar General is directed to release a sum of Rs.1,18,37,396/-, along with accrued interest, in favour of the Defendant which has been deposited by the Defendant in compliance of the Order dated 10.10.2017 in terms of the Settlement Agreement.

In view of the fact that the Parties have entered into a settlement and in view of the Judgment passed by the Division Bench of this Court in Nutan Batra v. Buniyaad Associates, 2018 SCC OnLine Del 12916, and the The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.

Notification dated 06.03.2026 issued by Department of Law, Justice and Legislative Affairs, GNCTD, this Court is inclined to direct the refund of the entire Court Fees.

10.

Let the Court Fee be refunded in accordance with Section 16 of the Court Fees Act, 1870.

11.

The application is disposed of in the aforesaid terms. SUBRAMONIUM PRASAD, J APRIL 6, 2026 S. Zakir The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.