Delhi High Court
M/S Ajay Enterprises Pvt. Ltd vs M/S Rinku Sobti Fashions Pvt. Ltd & ... on 19 January, 2017
$~11
* IN THE HIGH COURT OF DELHI AT NEW DELHI
+ RFA 419/2014 and CM APPL. 14351/2014, 25225/2016
M/S AJAY ENTERPRISES PVT. LTD ..... Appellant
Through: Ms. Malini Sud, Advocate with
Ms. Vidhi Goel and Ms. Shagun Parashar,
Advocates
versus
M/S RINKU SOBTI FASHIONS PVT. LTD & ANR ... Respondents
Through: Mr. Om Prakash Shekhawat, Advocate
CORAM:
HON'BLE MS. JUSTICE HIMA KOHLI
ORDER
% 19.01.2017
1. Pursuant to the parties being referred to mediation, the Delhi High
Court Mediation and Conciliation Centre has forwarded a Settlement
Agreement dated 12.1.2017.
2. The terms and conditions of the settlement have been recorded in para
8 of the Agreement whereunder, the respondents have agreed to accept
simple interest @ 7% on the principle amount instead of the amount
awarded under the impugned judgment and decree dated 13.05.2014,
whereunder the interest granted on the decretal amount of Rs.19,20,000/-
was @ 15% per annum. It has been recorded that if the interest is calculated
on Rs.19,20,000/- @ 7%, then the respondents would be entitled to a sum of
Rs.28,08,145/-. During the pendency of the appeal, the appellant had
deposited the decretal amount with upto date interest in terms of the
impugned judgment and decree and on furnishing a solvent surety, the
respondent was permitted to withdraw an amount, totalling to a sum of
Rs.34,56,438/-. The Settlement Agreement records that the respondents have
agreed to refund a sum of Rs.6,48,293/- to the appellant.
3. Counsel for the respondents hands over a demand draft bearing
No.100939 dated 17.01.2017 drawn on HDFC Bank, Asaf Ali Road Branch
for the aforesaid amount in favour of the appellant to the counsel for the
appellant, which is duly accepted.
4. The Court has perused the Settlement Agreement dated 12.01.2017.
The same has been signed by the authorised representatives of the appellant
and the respondents, their respective counsels and the learned Mediator.
Enclosed with the Settlement Agreement are the letters of authority,
authorising the signatories to execute the settlement with each other.
5. 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 as recorded in the Settlement
Agreement.
6. The appeal is disposed of alongwith the pending applications.
7. If any interest component from out of the amount deposited by the
appellant is lying in the Registry, the same shall be released in favour of the
appellant trough counsel.
8. Now that the parties have arrived at a settlement, counsel for the
respondents states that his client had offered the title documents of an
immovable property as a solvent surety before the Registrar General and on
accepting the same, the amount deposited by the appellant was released in
its favour. He request that the endorsement made on the title documents may
be cancelled.
9. List before the Registrar for cancellation of the endorsement on the
aforesaid title documents furnished by the respondent, on 02.02.2017.
CM APPL. 2400/2017 (by the appellant u/S 16 of the Court Fee Act)
1. The present application has been filed by the appellant praying inter
alia for refund of the court fee.
2. Counsel for the appellant states that in view of the fact that the parties
have arrived at a settlement through court annexed mediation, the appellant
is entitled to claim refund of the court fees in terms of Section 16 of the
Court Fees Act.
3. In view of the aforesaid submission made by the counsel for the
appellant, the Registry is directed to issue a certificate in favour of the
appellant for refund of the court fees, as per law.
4. The application is disposed of.
HIMA KOHLI, J
JANUARY 19, 2017
rkb/ap
