Delhi High Court
Silverglades Holdings Private ... vs Shefali Varma on 3 June, 2020
$~1
* IN THE HIGH COURT OF DELHI AT NEW DELHI
% Judgment delivered on: 03.06.2020
+ CONT. CAS(C) 260/2020
SILVER GLADES HOLDINGS PRIVATE LIMITED ....Petitioner
versus
SHEFALI VARMA ..... Respondent
Advocates who appeared in this case:
For the Petitioner: Ms. Shyel Trehan, Advocate.
For the Respondent: Mr. Jeevesh Nagrath, Advocate.
CORAM:-
HON'BLE MR. JUSTICE SANJEEV SACHDEVA
JUDGMENT
SANJEEV SACHDEVA, J. (ORAL)
1. The hearing was conducted through video conferencing.
2. Petitioner has filed the present petition seeking initiation of
contempt proceedings against the respondent for breach of
undertaking given to the Court and as recorded in order dated
04.02.2020.
3. Order dated 04.02.2020 was passed consequent to a full and
final settlement agreement executed inter alia between the parties on
26.12.2019, whereby, respondent had undertaken to pay a sum of
Rs.11,50,00,000/- to the petitioner as well as Mr. Shashank Bhagat in
CONT. CAS(C) 260/2020 Page 1
instalments, as recorded in the full and final Settlement Agreement
dated 26.12.2019. In terms of the settlement agreement, on
01.04.2020 and 01.07.2020, sums of Rs.1,58,50,000/- each was
payable. Out of each of the said amounts of Rs.1,58,50,000/-,
Rs.27,50,000/- was payable to Mr. Shashank Bhagat and
Rs.1,31,00,000/- to the petitioner.
4. As per the petitioner, towards the instalment payable on
01.04.2020, only a sum of Rs. 50,00,000/- has been paid on
06.05.2020 and Rs. 81,00,000/- is still due.
5. Learned counsel for the petitioner submits that the respondent
has not paid the amount. She further submits that when the cheque for
the said instalment payable on 01.04.2020 was presented for
encashment, the same was returned for the reason 'insufficient funds'.
6. Learned counsel appearing for the respondent submits Mr.
Shashank Bhagat has been paid the amount of Rs.27,50,000/- for the
instalment due on 01.04.2020. With regard to the balance sum of
Rs.81,00,000/- payable towards the instalment due on 01.04.2020,
learned counsel appearing for the respondent, under instructions,
undertakes on behalf of the respondent that a sum of Rs.25,00,000/-
shall be paid on or before 08.06.2020 and a sum of Rs.56,00,000/-
shall be paid on or before 27.06.2020.
7. Learned counsel appearing for the respondent further submits
that the instalment for the month of 01.07.2020, payable to the
CONT. CAS(C) 260/2020 Page 2
petitioner, would have to be deferred in view of the prevailing
situation arises out of COVID-19 pandemic. He, however, under
instructions, undertakes on behalf of the Respondent that the entire
amount of Rs.1,31,00,000/-, payable for the instalment due on
01.07.2020, shall be paid to the petitioner on or before 22.07.2020.
8. It is agreed that the balance amount payable for the instalment
due on 01.04.2020 and falling due on 01.07.2020 shall be directly
remitted to the account of the Petitioner. On receipt of the instalment
amounts, Petitioner shall cancel the post-dated cheques, payable on
01.04.2020 and 01.07.2020 and return the same to the Respondent.
9. Learned counsel appearing for the respondent further, under
instructions, undertakes on behalf of the Respondent, that the
subsequent instalments payable under the agreement dated 26.12.2019
shall be honoured on the respective due dates.
10. Learned counsel appearing for the respondent further, under
instructions, undertakes that Mr. Shashank Bhagat shall be paid his
amount in terms of the Settlement Agreement without any deferment.
11. The undertakings are accepted.
12. Learned counsel for the petitioner submits that in view of the
assurance and undertaking given by the respondent, she does not press
the present petition and seeks leave to withdraw the present petition.
CONT. CAS(C) 260/2020 Page 3
13. Learned counsel for the petitioner further submits that in case
the respondent honours the undertaking given to this Court today and
pays the amount in terms of the schedule, petitioner waives her right
to terminate the contract. However, in case the respondent fails to
honour the undertaking given to the Court today, she reserves her
right to take action against the respondent in terms of the Settlement
Agreement.
14. Respondent shall file an affidavit of undertaking in the above
terms within a period of one week from today.
15. Petition is, accordingly, dismissed as withdrawn
16. Copy of the order be uploaded on the High Court website and
be also forwarded to learned counsels through email.
SANJEEV SACHDEVA, J
JUNE 03, 2020
st
CONT. CAS(C) 260/2020 Page 4
