Delhi High Court
Freecharge Payment Technologies Pvt ... vs Frederica Marketing Pvt Ltd on 6 September, 2024
Author: C.Hari Shankar
Bench: C. Hari Shankar
$~33
* IN THE HIGH COURT OF DELHI AT NEW DELHI
+ OMP (ENF.) (COMM.) 250/2022
FREECHARGE PAYMENT TECHNOLOGIES
PVT LTD .....Decree Holder
Through: Mr. Siddharth Dutta, Mr. Ait
Kumar Mishra, Ms. Mutakshara Goyal, Mr.
Shivam Singh and Mr. Anunay Kumar,
Advocates
versus
FREDERICA MARKETING PVT LTD .....Judgment Debtor
Through: Mr. Nishant Mittal, Mr.
Sanyam Rastogi and Mr. Harshit Singh,
Advocates
CORAM:
HON'BLE MR. JUSTICE C. HARI SHANKAR
O R D E R (ORAL)
% 06.09.2024
1. This Execution Petition seeks execution of order dated 24
August 2022 passed by this Court in Arb. P. 541/2022. The said order
disposed of the arbitration petition on the basis of IA 13276/2022
jointly moved by the petitioner and the respondent under Order XXIII
Rule 3 CPC, consequent on their having arrived at a settlement with
the intervention of the Delhi High Court Mediation and Conciliation
Centre. The relevant terms of the Settlement Agreement dated 28 June
2022 read thus:
"1. Both the Parties have agreed to settle all their difference
and disputes and have agreed that Party 2 shall make a total
payment of Rs. 2,65,00,000/- (Rupees two crore sixty five lakhs) to
Party 1, towards settlement of their aforementioned disputes and
complaints.
Digitally Signed Digitally Signed
By:AJIT KUMAR (COMM.) 250/2022 Page 1 of 6 By:CHANDRASHEKHAR
AN HARI SHANKAR
Signing Signing Date:08.09.2024
Date:08.09.2024 21:43 21:40
said payable amount of Rs. 2,65,00,000/-, Party 2 has already paid
an amount of Rs. 5,00,000/- (Rupees five lakhs) vide online bank
wire transfer dated 26.05.2022, bearing transaction reference ID
821405492.
3. Both the Parties have agreed and accepted that the balance
amount of Rs. 2,60,00,000/- (two crore sixty lakhs) shall be paid in
13 equal installments of Rs. 20,00,000/- (twenty lakhs) each, as per
following details:
INSTALLMENT DUE DATE AMOUNT
NO.
Instalment no.1 30.06.2022 Rs.20,00,000/-
Instalment no.2 31.07.2022 Rs.20,00,000/-
Instalment no.3 31.08.2022 Rs.20,00,000/-
Instalment no.4 30.09.2022 Rs.20,00,000/-
Instalment no.5 31.10.2022 Rs.20,00,000/-
Instalment no.6 30.11.2022 Rs.20,00,000/-
Instalment no.7 31.12.2022 Rs.20,00,000/-
Instalment no.8 31.01.2023 Rs.20,00,000/-
Instalment no.9 28.02.2023 Rs.20,00,000/-
Instalment no.10 31.03.2023 Rs.20,00,000/-
Instalment no.11 30.04.2023 Rs.20,00,000/-
Instalment no.12 31.05.2023 Rs.20,00,000/-
Instalment no.13 30.06.2023 Rs.20,00,000/-
4. Party 1 acknowledges that Party 2 has handed over 13 post
dated cheques, hereinafter collectively referred to as 'PDC's', from
the bank account in the name of Party 2 (Frederica Marketing
Private Limited), bearing ICICI Bank account no. 333205500319,
as security towards the aforementioned 13 installments, following
are the details of the PDC's on 17 June 2022:
Towards POST DATE DATED AMOUNT
Instalment No. CHEQUE
NO.
Instalment 000228 30.06.2022 Rs.20,00,000/-
no.1
Instalment 000229 31.07.2022 Rs.20,00,000/-
no.2
Instalment 000230 31.08.2022 Rs.20,00,000/-
no.3
Instalment 000231 30.09.2022 Rs.20,00,000/-
no.4
Instalment 000232 31.10.2022 Rs.20,00,000/-
Digitally Signed Digitally Signed
By:AJIT KUMAR (COMM.) 250/2022 Page 2 of 6 By:CHANDRASHEKHAR
AN HARI SHANKAR
Signing Signing Date:08.09.2024
Date:08.09.2024 21:43 21:40
Instalment 000233 30.11.2022 Rs.20,00,000/-
no.6
Instalment 000234 31.12.2022 Rs.20,00,000/-
no.7
Instalment 000235 31.01.2023 Rs.20,00,000/-
no.8
Instalment 000236 28.02.2023 Rs.20,00,000/-
no.9
Instalment 000237 31.03.2023 Rs.20,00,000/-
no.10
Instalment 000238 30.04.2023 Rs.20,00,000/-
no.11
Instalment 000239 31.05.2023 Rs.20,00,000/-
no.12
Instalment 000240 30.06.2023 Rs.20,00,000/-
no.13
5. Party 2 may transfer funds towards aforementioned
installments (as per schedule mentioned in para 'c') directly via
online bank wire transfer from any of its related accounts one day
prior to the due date of the installment as provided in the schedule
of clause (d), in which case Party I shall return the unused PDC's
towards such installment back to Party 2 as per demand from Party
2 without any delay, as long as the payment towards the said
installment has been made as per intimation from Party 2 to Party
6. Both the parties agreed that in an event that any of the
aforesaid installments are not paid as per its due date by Party 2 to
Party 1, a provided in the schedule of clause (d), Party 2 shall be
liable to pay an interest on the said unpaid amount at the rate of
1.5% per month (ie 18% annually), calculated from the due date till
the date of repayment
7. Both the Parties mutually agree that through this settlement
agreement deed both the Parties agree to settle any and all of their
disputes and differences which are subject matter of the mediation
and make representations to withdraw/seek closure of all civil and
criminal proceedings, namely, O.M.P. (I) (Comm.) 99/2022, Arb.
P. 541/2022, complaint no. C-620/2022/DCP/EOW and any other
complaint as on date of signing this settlement deed pertaining to
subject matter of OM.P. (1)(Comm.) 99/2022, Arb. P. 541/2022
and complaint no. C 620/2022/DCP/EOW filed since the filing of
Arb. P. 541/2022 against each other.
8. Both the Parties mutually agree that Party 1 shall file a
Digitally Signed Digitally Signed
By:AJIT KUMAR (COMM.) 250/2022 Page 3 of 6 By:CHANDRASHEKHAR
AN HARI SHANKAR
Signing Signing Date:08.09.2024
Date:08.09.2024 21:43 21:40
to withdraw/request closure of the aforementioned complaint
bearing no. C 620/2022/DCP/EOW against Party 2, in light of the
present settlement agreement. A copy of the draft of the request is
herein annexed as ANNEXURE C. Party 2 acknowledges that the
signed and stamped copy of Annexure C has been handed over by
Party 1
9. Both the Parties mutually agree that the terms of the present
settlement deed shall be binding on both the Parties and that neither
of the Parties shall be able to revoke the settlement deed, hence this
is an irrevocable settlement, to extent each party fulfil its obligation
under this agreement, of any matters pending adjudication and
otherwise as per the terms and conditions agreed upon by the
Parties in the present Settlement Agreement.
10. Both Parties mutually agree that the present
settlement/agreement/compromise shall be recorded by the Hon'ble
High Court of Delhi as per Order XXIII Rule 3 of CPC and that the
Parties shall remain bound by the terms.
11. Both Parties mutually agree that they have arrived and
agreed to the contents of this settlement deed as per their freewill,
without undue influence and coercion and with full knowledge of
all pertinent facts and details.
12. By signing this agreement, the Parties hereto state that they
have no further claims or demands against each other in relation to
the subject matter of the present suits and all the disputes and
differences in the aforementioned matters have been amicably
settled by the parties hereto through the process of mediation.
13. The Parties undertake before this Hon'ble Court to abide by
the terms and conditions as set out in this Settlement Agreement
and not to dispute the same hereinafter in future."
2. Mr. Shivam Singh, learned counsel for the petitioner informs
that, of the 13 post dated cheques1 furnished by the
respondent/judgment debtor towards payment of the instalments in
fulfilment of the settlement agreement, 11 were dishonored.
3. In the present Enforcement Petition, the respondent / judgment
"PDCs" hereinafter Signature Not Verified
Digitally Signed Digitally Signed
By:AJIT KUMAR (COMM.) 250/2022 Page 4 of 6 By:CHANDRASHEKHAR
AN HARI SHANKAR
Signing Signing Date:08.09.2024
Date:08.09.2024 21:43 21:40
debtor was directed to file his affidavit of assets on 18 April 2023.
Nearly a year and two months have elapsed since then and the
affidavit of assets is not forthcoming. Further time is being sought by
the respondent, who appears in person, to file the affidavit of assets.
Between 18 April 2023 and today, the matter has been listed eight
times.
4. Even to secure the presence of the respondent/judgment debtor,
this Court has had to issue bailable warrants.
5. The Court has lost all confidence in the respondent. Prima
facie, it appears that the respondent/judgment debtor is seeking to
protract these proceedings with an intent to defeat the decree in favour
of the petitioner.
6. The Court is not inclined to grant any further time to the
respondent/judgment debtor to file the affidavit of assets.
7. In the circumstances, the respondent/judgment debtor is
directed to deposit, with the Registry of this Court, the entire decretal
amount, including interest, within three weeks from today. The
respondent/judgment debtor shall remain personally present on the
next date of hearing as well. In the event the deposit is not made, the
respondent/judgment debtor has been informed that the Court would
be constrained to take coercive steps against him as permissible under
Order XXI CPC.
Digitally Signed Digitally Signed
By:AJIT KUMAR (COMM.) 250/2022 Page 5 of 6 By:CHANDRASHEKHAR
AN HARI SHANKAR
Signing Signing Date:08.09.2024
Date:08.09.2024 21:43 21:40
deposit on any ground whatsoever would be granted.
9. Renotify on 30 September 2024.
C.HARI SHANKAR, J
SEPTEMBER 6, 2024/yg
Click here to check corrigendum, if any
Digitally Signed Digitally Signed
By:AJIT KUMAR (COMM.) 250/2022 Page 6 of 6 By:CHANDRASHEKHAR
AN HARI SHANKAR
Signing Signing Date:08.09.2024
Date:08.09.2024 21:43 21:40
