Susheel Abrol vs Rainbow Papers Ltd
2015 Latest Caselaw 6588 Del

$~14.
*     IN THE HIGH COURT OF DELHI AT NEW DELHI
+     CS(OS) 695/2014 and IA No.12794/2014
      SUSHEEL ABROL                                 ..... Plaintiff
                         Through : Mr. Shashank Sharma, Advocate

                         versus

      RAINBOW PAPERS LTD                        ..... Defendant
                    Through : Mr. Rahul Ray, Advocate
      CORAM:
      HON'BLE MS. JUSTICE HIMA KOHLI
                    ORDER

% 03.09.2015

1. Pursuant to the parties being referred to the Delhi High Court

Mediation and Conciliation Centre, a Settlement Agreement dated

27.08.2015 has been placed on record and the terms and conditions of

the settlement have been recorded in para 4 thereof.

2. Counsels for the parties state that in accordance with the terms

and conditions of the settlement, the defendant has agreed to pay a

sum of Rs.26.00 lacs to the plaintiff in full and final settlement of all its

claims, out of which amount a Demand Draft for a sum of Rs.6.00 lacs

has already been handed over to the plaintiff and duly encashed. The

parties have agreed that the balance sum of Rs.20.00 lacs shall be

paid by the defendant in four equal instalments of Rs.5.00 lacs each,

on or before the 7th day of every month commencing from October,

2015 and ending in January, 2016, through RTGS.

3. Counsels for the parties state that the suit may be decreed in

terms of the Settlement Agreement dated 27.8.2015.

4. The Court has perused the Settlement Agreement. The same has

been signed by the sole proprietor of the plaintiff company and the

authorized representative of the defendant company and their

respective counsel and the learned Mediator.

5. As the counsels for the plaintiff and the defendant jointly state

that they 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 Settlement Agreement dated 27.8.2015 is taken on

record. The parties shall remain bound by the terms and conditions of

the said settlement.

6. The suit is decreed in terms of the Settlement Agreement dated

27.8.2015. Decree sheet be drawn accordingly.

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

leaving the parties to bear their own expenses.

8. File be consigned to the record room.

HIMA KOHLI, J SEPTEMBER 03, 2015 sk