Brg Tie Up Private Limited vs Falcon Synergies Hong Kong ...
2022 Latest Caselaw 1102 Del

Citation : 2022 Latest Caselaw 1102 Del
Judgement Date : 19 April, 2022

Delhi High Court

Brg Tie Up Private Limited vs Falcon Synergies Hong Kong ... on 19 April, 2022

                                      $~16 & 17
                                      *      IN THE HIGH COURT OF DELHI AT NEW DELHI
                                      %                                     Judgment delivered on: 19th April, 2022

                                      +      O.M.P. (COMM) 117/2021, I.A. 3853/2021 & I.A. 3854/2021

                                      STENOVATE SYNERGIES AND EXPORTS PRIVATE LIMITED
                                      & ANR.                               ..... Petitioners

                                                                            versus
                                      FALCON SYNERGIES HONG KONG LIMITED & ANR.
                                                                           ..... Respondents
                                      Advocates who appeared in this case:
                                      For the Petitioner : Mr. Awanish Sinha, Advocate.
                                      For the Respondents: Mr. Chandra Shekhar Yadav, Advocate.

                                                                   AND
                                      +      O.M.P. (COMM) 213/2021 & I.A. 9312/2021
                                      BRG TIE UP PRIVATE LIMITED                                     ..... Petitioner

                                                                   versus

                                      FALCON SYNERGIES HONG KONG LIMITED & ANR.
                                                                           ..... Respondents
                                      Advocates who appeared in this case:
                                      For the Petitioner:  Mr. Pratyush K. Yadav, Advocate.
                                      For the Respondents: Mr. Chandra Shekhar Yadav, Advocate.

                                      CORAM:-
                                      HON'BLE MR. JUSTICE SANJEEV SACHDEVA

                                                                      JUDGMENT

Digitally Signed Signature Not Verified By:JUSTICE SANJEEV Digitally Signed By:KUNAL SACHDEVA MAGGU Signing Date:19.04.2022 Signing Date:20.04.2022 15:26:17 20:08 This file is digitally signed by PS to HMJ Sanjeev Sachdeva.

SANJEEV SACHDEVA, J

1. Petitioners impugn award dated 02.12.2019 by way of these petitions under Section 34 of Arbitration and Conciliation Act 1996.

2. Petitioners and respondents were referred to mediation and a Settlement Agreement dated 22.03.2022 has been executed between the parties.

3. Petitioners are represented by Mr. Hemant Kumar Rathi and the respondents are represented by Mr. Anil Kumar. Both the authorised representatives are also connected through V.C.

4. In terms of the Settlement Agreement, parties have agreed to modify the award to a limited extent and the claim of interest and the cost is being waived by respondents.

5. The authorised representatives of the petitioners and respondents submit that they are authorised on behalf of the respective companies to undertake that the companies shall abide by the terms and conditions of the Settlement Agreement.

6. I have perused the terms and conditions of the Settlement Agreement and find the same to be lawful. The undertakings given to the court are accepted.

7. Petitions are accordingly disposed of in terms of the Settlement

Agreement dated 22.03.2022. Parties shall remain bound by the terms and conditions of the same and perform their respective obligations as agreed in the Settlement Agreement dated 22.03.2022.

SANJEEV SACHDEVA, J APRIL 19, 2022/So