M/S Bhushan Steel & Strips Ltd vs M/S Severstal Export Gmbh & Anr
2015 Latest Caselaw 9139 Del

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*      IN THE HIGH COURT OF DELHI AT NEW DELHI
+      CS(OS) 297/2007 & IA No.3905/2011
       M/S BHUSHAN STEEL & STRIPS LTD.                ..... Plaintiff
                     Through : Ms. Ranjana Roy Gawai, Advocate

                        versus

       M/S SEVERSTAL EXPORT GMBH & ANR.           ..... Defendants
                      Through : Mr. Deo Prakash Sharma, Advocate
                       for D-1.

       CORAM:
       HON'BLE MS. JUSTICE HIMA KOHLI
                     ORDER

% 08.12.2015 I.A.No.25141/2015 (joint application u/O XXIII R 3 CPC)

1. The present compromise application has been filed by the

parties stating inter alia that during the pendency of the present

proceedings, they have arrived at an out of court negotiated

settlement, which has been reduced into writing in the form of a

Settlement Agreement dated 20.7.2015 which is enclosed with the

application and marked as Annexure-A.

2. Counsels for the parties state that in terms of the settlement

arrived at between the parties not only in respect of the dispute raised

in the present case, but also in some other connected cases, the

defendant No.1 (the contesting defendant) has agreed to pay a sum of

AUD 1,303,508 to the plaintiff without set-off or other deduction, in

full and final settlement. It is confirmed by learned counsels that the

aforesaid amount has already been transferred by the defendant No.1

into the account of the plaintiff.

3. Counsel for the plaintiff states that in view of the payment

received from the defendant No.1, the plaintiff is not left with any

claim against the defendant No.2 and does not wish to pursue the suit

against the said defendant.

4. Counsels for the parties jointly state that in view of the

settlement arrived at between the parties, nothing further survives for

adjudication in the present suit, which may be disposed of.

5. The Court has pursued the present application. The same has

been signed by the Vice President of the plaintiff company and the

authorized representative of the defendant No.1/company as also by

their respective counsels. The application is supported by the affidavits

of the signatories to the application. A perusal of the Settlement

Agreement dated 20.7.2015 (Annexure-A) reveals that the same has

been signed by the authorized representatives of the plaintiff and the

defendant No.1.

6. As counsels for the plaintiff and the defendant No.1 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

settlement. The parties shall remain bound by the terms and

conditions of the settlement recorded in the application.

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

terms of the settlement arrived at and recorded in the application as

also in terms of the Settlement Agreement dated 20.7.2015, while

leaving the parties to bear their own costs.

8. File be consigned to the record room.

HIMA KOHLI, J DECEMBER 08, 2015 sk