Triveni Engg. And Industries Ltd. vs Oil And Natural Gas Corpn. Ltd.
2006 Latest Caselaw 607 Del

JUDGMENT

Badar Durrez Ahmed, J.

1. This is an application under Order 23 Rule 3 read with Section 151 of the Code of Civil Procedure, 1908 which has been filed jointly by the parties requesting that the suit be disposed of as having been fully satisfied in terms of a Memorandum of Settlement dated 28.03.2006 filed Along with this application as Annexure-C-1. The said annexure as well as the application is marked as Exhibit-X. Essentially, the respondent (ONGC) had filed objections to the award dated 16.12.2004 By way of the settlement, an amount of Rs.45 lakhs has been agreed to be paid by the respondent to the petitioner in satisfaction of all the claims under the award. This amount is being paid by way of a cheque dated 24.03.2006 bearing No.334384 for an amount of Rs.41,63,400/- drawn on State Bank of India, Tel Bhawan, Dehradun in favor of the petitioner / plaintiff. The cheque has been handed over to the learned Counsel for the petitioner in court and he acknowledges receipt of the same. The balance amount of Rs.3,36,600/- has been deducted by the respondent as Tax Deducted at Source for which the relevant certificate will be handed over to the counsel for the petitioner within one week.

2. In view of these developments, the learned Counsel for the plaintiff states that, as mentioned in the application, the plaintiff/petitioner is left with no claim whatsoever against the defendant, the award having been fully satisfied.

3. Accordingly, this matter is disposed of with the direction that the award stands satisfied and the application [Exhibit-X Along with its annexure] shall form part of this order. The parties shall bear their own costs.