Annapurna Infrastructure ... vs Store One Retail India Limited
2017 Latest Caselaw 4891 Del

$~45

* IN THE HIGH COURT OF DELHI AT NEW DELHI
%                                   Judgment delivered on: 08.09.2017
+      OMP (ENF.) (COMM.) 7/2017
ANNAPURNA INFRASTRUCTURE
PRIVATE LIMTED & ANOTHER                         ..... Decree Holders

                           versus
STORE ONE RETAIL INDIA LIMITED                  ..... Judgment Debtor
Advocates who appeared in this case:

For the Decree Holders     : Mr Manorajan Sharma and Mr Prashand Jain

For the Judgment Debtor    : Mr Abhishek Swaroop and Mr Akhil Anand

CORAM:-
HON'BLE MR JUSTICE SANJEEV SACHDEVA
                   JUDGMENT

08.09.2017 SANJEEV SACHDEVA, J. (ORAL)

IA No.10394/2017(seeking handing over the demand drafts towards full and final settlement of decretal amount)

1. By this application, the judgment debtor seeks to hand over demand drafts, photocopies of which has been annexed with the application in the sum of Rs.11,11,60,000/-, net of TDS amount of Rs.1,39,40,000/- in full and final settlement of the awarded amount.

2. In view of the above, the application is allowed.

OMP (ENF.) (COMM.) 7/2017

1. The decree holders seeks execution of Award dated 09.09.2016.

2. Learned counsel for the judgment debtor has handed over to the counsel for the decree holder demand drafts in the sum of Rs.11,11,60,000/-, net of TDS amount of Rs.1,39,40,000/- in full and final settlement of the awarded amount. He undertakes that the said amount of TDS shall be deposited with the concerned income tax authority within the statutory period and proof of deposits shall be furnished to the decree holders.

3. Learned counsel for the decree holders undertakes that the collateral proceedings initiated by the decree holders shall be withdrawn by the decree holders and steps shall be initiated within a period of two weeks from today.

4. The undertakings given by the decree holders as well as judgment debtor are accepted.

5. Learned counsel for the decree holders submits that on receipt of the above-referred amounts and the payment of TDS, the decree holders have received the full and final payment, as agreed to between the parties, towards the satisfaction of the Award dated 09.09.2016.

6. In view of the above, satisfaction of the Award dated 09.09.2016 is recorded.

7. The petition is accordingly disposed of.

8. The next date of 14.09.2017 is cancelled.

9. Order Dasti under signatures of the Court Master.

SANJEEV SACHDEVA, J SEPTEMBER 08, 2017/'Sn'