Accessories World Car Audio Pvt ... vs Capital First Limited

$~10
*    IN THE HIGH COURT OF DELHI AT NEW DELHI
+     FAO(OS) (COMM) 75/2016 & CM Nos. 33127/2016, 33128/2016
      ACCESSORIES WORLD CAR AUDIO PVT LTD..... Appellant
                             Through:   Mr. Sanjay Rathi, Advocate.
                             versus
      CAPITAL FIRST LIMITED                                   ..... Respondent
                             Through:   Mr. Punit K. Bhalla, Advocate.
      CORAM:
      HON'BLE MS. JUSTICE HIMA KOHLI
      HON'BLE MS. JUSTICE SANGITA DHINGRA SEHGAL
                   ORDER

% 11.05.2017

1. Learned Counsels for the parties state in unison that they have arrived at an out of court settlement, the terms and conditions whereof are a part of the letter dated 25.03.2017, addressed by the respondent to the petitioner.

2. It has been agreed by the parties that the appellant shall pay a sum of Rs.2,30,00,000/- (Rupees Two Crore Thirty Lakhs) to the respondent, in instalments, as detailed in the letter dated 25.03.2017.

3. We are informed that the first instalment of Rs.55,00,000/- (Rupees Fifty Five Lakhs) has already been recieved by the respondent.

4. Learned counsel for the appellant undertakes on behalf of the appellant that it shall adhere to the agreed timeline for making the payments to the respondent, as recorded in the captioned letter. The same is taken on record along with the enclosures.

5. The present appeal is disposed of, along with the pending applications in terms of the settlement.

HIMA KOHLI, J SANGITA DHINGRA SEHGAL, J MAY 11, 2017 ssc FAO(OS) (COMM) No. 75/2016 Page 2 of 2