Delhi High Court
Great Eastern Energy Corporation ... vs Executive Access (India) Pvt Ltd on 13 July, 2022
$~21
* IN THE HIGH COURT OF DELHI AT NEW DELHI
+ RFA 379/2019 and CM APPL. 19545/2019 (stay) and CM
APPL. 18204/2022 (Direction)
GREAT EASTERN ENERGY
CORPORATION LTD ..... Appellant
Through: Mr. Ajay Bhargava, Mr. Aseem
Chaturvedi, Ms.Warmika Trehan and Mr.
Milind Jain, Advs.
versus
EXECUTIVE ACCESS (INDIA) PVT LTD..... Respondent
Through: Mr. Anil Mittal and Ms. Komal
Aggarwal, Adv.
CORAM:
HON'BLE MR. JUSTICE C.HARI SHANKAR
ORDER (ORAL)
% 13.07.2022
1. Learned Counsel for the parties submit that disputes between
them stand settled with the intervention of the Delhi High Court
Mediation and Conciliation Centre in terms of the Settlement
Agreement dated 5th May 2022, which has been annexed along with
CM 28927/2022.
2. The terms of settlement read thus:
"a) The First Party has agreed to pay to the Second Party
and the Second Party has agreed to receive from the First
Party the settled amount of Rs. 7,00,000/- Rupees Seven
Lakhs only) in full and final.
b) That during the hearing of the abovesaid appeal, an
order dated 26.04.2019 was passed by Hon'ble Mr. Justice V.
Kameswar Rao, directing the appellant to deposit two-third of
Signature Not Verified
By:KAMLA RAWAT
Signing Date:14.07.2022
17:36:16
decretal amount in the Registry and in compliance of order
dated 26.04.2019 passed by Hon'ble Mr. Justice V. Kameswar
Rao, the First Party has deposited an amount of Rs. 5,60,063/-
(Rupees Five Lakh Sixty Thousand Sixty Three Only) being
two-third of decretal amount with interest on 22.05.2019 by
way Demand Draft No. 506795 before the Registry of the
Hon'ble Delhi High Court.
c) In order to pay the settled amount Rs. 7,00,000
(Rupees Seven Lakh Only), it is agreed between the parties
that out of the amount lying deposited in the registry as
explained in above para an amount of Rs. 5,50,000/- (Rupees
Five Lakh Fifty Thousand Only) may be released in favour of
Second Party and balance amount may be released along with
accrued interest in favour of First Party. The First Party shall
also hand over a demand draft of Rs. 1,50,000/- (Rupees One
Lakh fifty Thousand Only) in favour of Second Party to the
Second Party on the date of hearing. By this way the total
Settled Amount Rs. 7,00,000 (Rupees Seven Lakh Only) shall
be paid to the Second Party.
d) It is further agreed that within one week from
obtaining the Copy of this Settlement Agreement from the
Samadhan, the parties shall move an appropriate application
before Hon'ble High Court of Delhi with a prayer to dispose
of the matter in terms of the Settlement Agreement.
e) By signing this Agreement the parties hereto state that
they have no further claims or demands against each other
and all the disputes and differences have been amicably
settled by the Parties hereto through the process of Mediation.
f) That the parties undertake before the Hon'ble Court to
abide by the terms and conditions set out in the agreement
and not to dispute the same hereinafter in future."
3. Both learned Counsel agree on behalf of their respective clients
to remain bound by the aforesaid terms of settlement.
4. Accordingly, nothing survives for adjudication in the present
appeal.
Signature Not Verified
By:KAMLA RAWAT
Signing Date:14.07.2022
17:36:16
5. The appeal is disposed of in view of the aforesaid Settlement
Agreement dated 5th May 2022 by which the parties would continue to
remain bound. Miscellaneous application also stand disposed of.
C. HARI SHANKAR, J.
JULY 13, 2022
r.bararia
Signature Not Verified
By:KAMLA RAWAT
Signing Date:14.07.2022
17:36:16
