Shri Adesh Kumar Tyagi & ANR v. Shri Gurchait Singh Chima & ANR

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* IN THE HIGH COURT OF DELHI AT NEW DELHI + CS(OS) 3434/2015 and I.A. Nos.25308/2015, 1720/2016, 3350/2016 & 6036/2016 SHRI ADESH KUMAR TYAGI & ANR ..... Plaintiffs Through:

Mr. Sunil Malhotra & Mr. Amit Sanduja, Advocates.

versus SHRI GURCHAIT SINGH CHIMA & ANR ..... Defendants Through:

Mr. Vineet Malhotra, Mr. Subhendu Kaushik & Mr.

Vishal Gohri, Advocates along with defendant No.2 in person.

CORAM:

HON'BLE MR. JUSTICE VIPIN SANGHI

O R D E R

% 20.05.2016 Defendant No.2 is present in person. He also claims to be the authority and authorised representative of defendant No.1. He makes a statement today that the defendants are ready & willing to refund Rs.3 Crores paid by the plaintiffs in the following manner: (i) The first instalment of Rupees One Crore shall be paid within ten days from today to the plaintiffs;

(ii) The second instalment of Rupees One Crore shall be paid within three months from today to the plaintiffs; and (iii) The third and final instalment of Rupees One Crore shall be paid at the end of six months from today to the plaintiffs.

The defendants shall not pay interest to the plaintiffs. However, in case the amounts are not paid in instalments, as aforesaid, the defendants shall pay 9% interest to the plaintiffs for the amount of default. The suit is decreed in the aforesaid terms with consent of the parties. In view of the aforesaid decree being passed, learned counsel for the plaintiff seeks to withdraw I.A. No. 25308/2015. The same is, accordingly, dismissed a withdrawn.

Since the parties have settled their disputes prior to commencement of trial, the plaintiffs shall be entitled to refund of 50% of the Court Fees. VIPIN SANGHI, J MAY 20, 2016 B.S. Rohella