M/S Rama Steel Tubes Ltd vs M/S Jain Irrigation Systems Ltd
2015 Latest Caselaw 9360 Del

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*     IN THE HIGH COURT OF DELHI AT NEW DELHI
+     CS(OS) 2062/2010
      M/S RAMA STEEL TUBES LTD                         ..... Plaintiff
                     Through : Mr. Purvesh Buttan, Advocate with
                     Mr. Rajesh Kumar, AR of the
                     plaintiff in person.

                         versus

      M/S JAIN IRRIGATION SYSTEMS LTD             ..... Defendant
                      Through : Mr. Sandeep Narain, Advocate with
                      Mr. Anilkumar Mungad, Vice President
                      of the defendant in person.
      CORAM:
      HON'BLE MS. JUSTICE HIMA KOHLI
                      ORDER

% 16.12.2015 I.A.No.25584/2015 (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 settlement,

whereunder the defendants have agreed to pay a sum of Rs. 25.00

lacs to the plaintiff in full and final settlement of all disputes, subject

matter of the present suit.

2. Counsel for the defendants hands over a cheque bearing

No.699926 dated 10.12.2015 for a sum of Rs.25.00 lacs drawn on

State Bank of India, Dana Bazar, Jalgaon, Maharashtra in favour of the

plaintiff, to the counsel for the plaintiff with an assurance that when

presented, the same shall be duly encashed. The said cheque is

accepted by the counsel for the plaintiff, who states that he has no

objection to the suit being disposed of as fully settled.

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

been signed by the authorized representatives of the plaintiff and the

defendants. The application is supported by the affidavits of the

signatories to the application. Enclosed with the application is the

Settlement Terms Reference dated 25.10.2015 executed by the

parties and marked as Annexure-A.

4. As counsels for the plaintiff and the defendants 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.

5. The suit is disposed of in terms of the settlement arrived at and

recorded in the application, while leaving the parties to bear their own

costs.

File be consigned to the record room.

HIMA KOHLI, J DECEMBER 16, 2015 sk