Gap(Itm) Inc And Anr vs D.K. Srinivas
2015 Latest Caselaw 6232 Del

$~40.
*    IN THE HIGH COURT OF DELHI AT NEW DELHI
+    CS(OS) 65/2015
     GAP(ITM) INC & ANR                         ..... Plaintiffs
                    Through: Ms. Arzu Chimni, Advocate

                        versus
      D.K. SRINIVAS                                 ..... Defendant
                        Through: Mr. Ravinder Singh, Advocate
      CORAM:
      HON'BLE MS. JUSTICE HIMA KOHLI

                        ORDER

% 24.08.2015

I.A. 17568/2015 (joint application u/O XXIII R 3 CPC)

1. The present joint application has been filed by the parties stating

inter alia that during the pendency of the suit, they have been able to

arrive at an out of court negotiated settlement.

2. The terms and conditions of the settlement have been set out in

para 2 of the application, whereunder the defendant has recognised

and acknowledged the plaintiffs' exclusive proprietary rights in the

trademark, "GAP" and given a series of undertakings to the plaintiffs.

The defendant has agreed and undertaken that in the event, he is

found to be in breach of the aforesaid undertakings and agreement in

future, he would be liable to pay a sum of Rs.25 lacs to the plaintiffs

as damages. The defendant has also paid a sum of Rs.10,000/- to the

plaintiffs as nominal costs and in lieu thereof, the plaintiffs have

forgone the claim of rendition of accounts. Counsels for the parties

state that the suit may be decreed in terms of the settlement recorded

in the present application.

3. The Court has heard the counsels for the parties and examined

the averments made in the application. The same has been signed by

the authorised representatives of the plaintiffs and the defendant as

also their respective counsels and is duly supported by the affidavits of

the signatories.

4. As counsels for the parties jointly state that their clients have

arrived at the aforesaid settlement of their own free will and volition

and without any undue influence or coercion from any quarters, there

appears no legal impediment in accepting the said settlement. The

parties shall remain bound by the terms and conditions of the

settlement recorded in the application.

5. The suit is decreed in terms of the settlement recorded in the

application, while leaving the parties to bear their own expenses.

6. The suit is disposed of, along with the pending application.

File be consigned to the record room.

HIMA KOHLI, J AUGUST 24, 2015/rkb