K.K. Spun Pipe Pvt Ltd vs Brij Gopal Construction Company ...
2015 Latest Caselaw 116 Del

*    IN THE HIGH COURT OF DELHI AT NEW DELHI

+           CS(OS) 3148/2014 & I.A. No.20260/2014


                                         Decided on: 08.01.2015
IN THE MATTER OF
K.K. SPUN PIPE PVT LTD                           ..... Plaintiff
                     Through: Ms. Saloni Choudhary, Advocate

                              versus


BRIJ GOPAL CONSTRUCTION COMPANY PVT LTD AND ANOTHER
                                            .....Defendants
                   Through: Mr. Bhupesh Narula, Adv.

CORAM
HON'BLE MS.JUSTICE HIMA KOHLI


HIMA KOHLI, J. (ORAL)

1. The plaintiff has instituted the present suit against the

defendants praying inter alia for passing a decree of declaration,

mandatory and permanent injunction for restraining defendant No.1

from encashing the bank guarantee submitted by the plaintiff to the

defendant No.2, for a sum of `1,90,00,000/-.

2. Learned counsels for the parties state that during the

pendency of the present proceedings, the parties have been able to

negotiate an out of court settlement, as recorded in the

Memorandum of Understanding dated 02.12.2014, whereunder the

plaintiff has agreed to provide a Performance Guarantee of `60 lacs

to the defendant No.2 and in view thereof, the defendant No.1 has

agreed that it will release two bank guarantees of Rs.50 lacs each.

Further, it has been agreed that the plaintiffs will approach this

Court for withdrawal of the present suit in terms of the settlement

arrived at between the parties.

3. Learned counsel for the plaintiff states that in view of the fact

that a comprehensive settlement has been arrived at between the

parties, she may be permitted to withdraw the present suit.

4. The Court has perused the Memorandum of Understanding

dated 02.12.2014. The same has been signed by the authorized

signatory of the plaintiff and the defendant No.1. The Memorandum

of Understanding in original dated 02.12.2014 is taken on record.

The parties shall remain bound by the terms and conditions thereof.

5. At this stage, learned counsel for the plaintiff requests that

50% of the Court fees may be refunded to the plaintiff as the

present suit has been settled through an out of court settlement

well before the stage of evidence.

6. In view of the provision of Section 16A of the Court Fees Act,

1870, the Registry is directed to issue a certificate in favour of the

plaintiff for refund of the Court fees to the extent of 50%.

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

leaving the parties to bear their own costs.

                                                   (HIMA KOHLI)
                                                       JUDGE
JANUARY     8, 2015
RB/rkb