M/S Indiasign Pvt Ltd vs M/S Aadri Entertainment & Media ...
2015 Latest Caselaw 6592 Del

$~39.
*    IN THE HIGH COURT OF DELHI AT NEW DELHI
+     CS(OS) 2262/2013
      M/S INDIASIGN PVT LTD                       ..... Plaintiff
                     Through: Mr. Jasbir Singh, Advocate

                        versus


      M/S AADRI ENTERTAINMENT & MEDIA WORKS PVT LTD
                                                    ..... Defendant
                     Through: Mr. Ankit Roopanwal, Advocate

      CORAM:
      HON'BLE MS. JUSTICE HIMA KOHLI

                        ORDER

% 03.09.2015

I.A. 18419/2015 (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 amicable settlement and the terms and

conditions whereof have been recorded in the Memorandum of

Understanding dated 24.08.2015 enclosed with the present application

as Annexure A.

2. In terms of the settlement arrived at between the parties, the

defendant has agreed to pay a sum of Rs.50 lacs to the plaintiff in full

and final settlement in 12 installments of Rs.4 lacs each and the last

and final installment shall be of Rs.2 lacs. Counsel for the plaintiff

states that the first installment of Rs.4 lacs was paid to his client in the

month of August, 2015. Counsel for the defendant states that his

clients shall remain bound by the terms and conditions of the

settlement recorded in the MOU dated 24.08.2015 and shall not

default in making payment of any of the instalments. In case of

default, the stipulations contained in the MOU will come into play. A

request is made to decree the suit in terms of the settlement recorded

in the MOU dated 24.08.2015.

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 plaintiff and the authorised representatives of the

defendant/company as also their respective counsels and is duly

supported by the affidavits of the signatories. Enclosed with the

application is the MOU dated 24.08.2015, which has also been signed

by the parties.

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 accordance with the terms and conditions

of the MOU dated 24.08.2015, while leaving the parties to bear their

own expenses. Decree Sheet be drawn accordingly.

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

7. File be consigned to the record room.

8. The date already fixed, i.e., 16.09.2015 stands cancelled.

HIMA KOHLI, J SEPTEMBER 03, 2015 rkb/mk