Shri Mukesh Singla vs M/S G.S. Developers & Contractors ...
2016 Latest Caselaw 829 Del

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*     IN THE HIGH COURT OF DELHI AT NEW DELHI
+     CO.PET. 431/2014
      SHRI MUKESH SINGLA                                 ..... Petitioner
                          Through: Mr. Nagendra Pratap Singh, Advocate
                          with petitioner in person

                          versus

      M/S G.S DEVELOPERS & CONTRACTOR
      PVT. LTD. & ANR.                             ..... Respondents
                      Through: Mr. Mohit Chaudhary, Ms. Damini
                      Chawla and Mr. Imran Ali, Advocates with Mr.
                      Gurmit Singh, MD in person
      CORAM:
      HON'BLE MR. JUSTICE RAJIV SHAKDHER
                ORDER

% 03.02.2016

CA 78/2016 (condonation of delay)

1. This is an application filed by the respondents to seek condonation of delay of 152 days in filing the affidavit in compliance of order dated 21.04.2015.

2. For the reasons given therein, the delay is condoned and the application is allowed.

CO.PET. 431/2014

3. Mr. Gurmit Singh, the Managing Director of respondent no.1 is present in court.

4. Mr. Chaudhary, on instructions, of Mr. Gurmit Singh (i.e. respondent no.2) has offered the following terms of payment towards full and final CO.PET. 431/2014 page 1 of 2 settlement of the claim raised by the petitioner : -

(i). That the outstanding principal sum amounting to Rs.31.13 Lakh will be paid alongwith simple interest at the rate of 9% p.a. calculated on Rs. 51,13,456/- commencing from 09.10.2013 till the date of payment, in the manner indicated hereafter.

(ii). That the aforementioned amount alongwith interest, as offered above, will be paid in six (6) equal monthly instalments. Each instalment will be paid on or before 20th day of each English calendar month. The first instalment will be paid on or before 20.02.2016 and the last instalment will be paid on or before 20.07.2016.

5. The learned counsel for the petitioner has taken instructions from the petitioner, who is present in court. The aforementioned terms of payment offered by the respondents are acceptable to the petitioner.

6. It is ordered accordingly. The petition is disposed of, on the agreed terms. The respondents will abide by the terms of settlement. 6.1 Furthermore, respondent no.2 will also file an affidavit within one week from today, undertaking therein personally, that payments will be made to the petitioner, in the manner indicated above. 6.2 It is made clear that in case there is a breach of the terms of settlement by the respondents, the petitioner will have liberty to revive the captioned petition. This liberty is granted in addition to any other remedy that may be available to the petitioner, in law.

7. No further orders are called for, in the captioned petition.

                                                RAJIV SHAKDHER, J
FEBRUARY 03, 2016/yg
CO.PET. 431/2014                                             page 2 of 2