Delhi High Court
Seven Seas Hospitality Pvt. Ltd. vs M.R.A. Associaties India Pvt. Ltd on 29 September, 2015
Author: Gita Mittal
* IN THE HIGH COURT OF DELHI AT NEW DELHI
+ CO.APP. 83/2013 & CM Nos.19994/2013, 7387/2014
% Date of decision : 29th September, 2015
SEVEN SEAS HOSPITALITY PVT. LTD. ..... Appellant
Through: Mr. S.C. Singhal, Adv.
versus
M.R.A. ASSOCIATIES INDIA PVT. LTD ..... Respondent
Through: Mr. Subhiksh Vasudev, Adv. with
Mr. Vipul Aggarwal in person
CORAM:
HON'BLE MS. JUSTICE GITA MITTAL
HON'BLE MR. JUSTICE I.S.MEHTA
Judgment (Oral)
Gita Mittal, J
1. The appellant in the present case assails the order dated 8th
November, 2013 admitting the winding up petition filed against it for
non-payment of contractual dues. On request of the parties, they were
referred to the Delhi High Court Mediation & Conciliation Centre by our
order dated 11th July, 2014. Mediation was conducted on several dates,
for which adjournments were jointly sought by the parties before us.
However, non-settlement was reported by the Mediation Centre by its
report dated 4th February, 2015.
2. During the course of the next hearing on 2nd March, 2015, counsel
for the parties prayed for one more opportunity to explore the possibility
of amicable resolution. On their request, the parties were directed to
appear before the same mediator who had assisted the parties on the
earlier dates. Despite vigorous efforts, mediation was unsuccessful.
However, on 23rd September, 2015, in view of the opening of the
communication channel in the mediation sittings, learned counsel for the
parties prayed that the matter may be adjourned for a short date to enable
them to make yet another effort for resolution.
3. Today, the parties have been able to arrive at a resolution of the
disputes. We find that parties who had no meeting ground and were
aggressively pushing their positions, were brought to the negotiating
table with the efforts of the Delhi High Court Mediation & Conciliation
Centre. Warring parties willingly were so able to traverse the path of
negotiation to reach a settlement placed before us today.
4. It is submitted by Mr. S.C. Singhal that in addition to the amount
of Rs.10 lakhs lying deposited in this court pursuant to our orders dated
13th December, 2013, the appellant is willing to pay a sum of Rs.10
lakhs in full and final settlement of all claims of the respondent.
5. Mr. Vipul Aggarwal, the Business Head and the authorised
representative of the respondent is present in court. He submits that if
the deposited amount lying in court with all accruals thereon is paid to
the respondent and the cheque which is offered on behalf of the
appellant in court today is encashed, the respondent shall treat all claims
of the respondent against the appellant as fully and finally satisfied.
6. In view of the above, Mr. S.C. Singhal, learned counsel for the
appellant has handed over cheque no. 678184 dated 29th September,
2015 drawn on Punjab National Bank, Gujranwala Town, Delhi for a
sum of Rs.10 lakhs to the respondent in court today with the assurance
that the same would be encashed on presentation. The same is accepted
by the respondent. In view of the statement made by Mr. Vipul
Aggarwal for the respondent, upon encashment of the cheque and receipt
of the amount lying in court, the claim of the respondent against the
appellant stands satisfied.
7. In view of the settlement between the parties, nothing survives for
adjudication in the present matter.
8. On the joint request of both parties, the order dated 8 th November,
2013 passed in Company Petition No. 478/2011 (impugned herein)
directing admission of the winding up petition is hereby set aside and
quashed. As a result, Company Petition no. 478/2011 shall be treated as
having been disposed of.
However, if the appellant commits breach of the assurance given
in court or the cheque handed over today is dishonoured on presentation,
the winding up petition and the order dated 8th November, 2013 in C.P.
No.478/2011shall stand revived.
9. The Registry is directed to forthwith release the amount deposited
by the appellant pursuant to the order dated 13 th December, 2013 with
full accruals thereon to the respondent through counsel.
The appeal is disposed of in the above terms.
Copy of this order be sent to the Delhi High Court Mediation &
Conciliation Centre.
Copy of this order shall be placed with the file of C.P.
No.478/2011 as well.
CM Nos.19994/2013, 7387/2014
In view of the order passed in the appeal, these applications do not
survive for adjudication and are disposed of accordingly.
GITA MITTAL, J
I.S.MEHTA, J
SEPTEMBER 29, 2015
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