Order 7

Order Details: COPY OF JUDICIAL PROCEEDINGS
Pdf Text: OMP (I) (COMM) No.483/23
Mahavir Transmission Limited
Vs.
M/s VSPL Energy Pvt. Ltd. & Ors.
18.10.2023
Present: Sh. Harshit Agarwal, counsel for the petitioner.
Sh. Shubham Mishra, counsel for the respondents
no.1, 3 to 6.
Sh. Anoop P. Tripathi and Sh. Mayank Gupta,
counsels for respondent no.2.
Matter is listed for compliance/recording of
statements qua settlement.
Original reply alongwith an application for
condonation of delay in filing reply filed on behalf of respondent
no. 2. Scanned copy of reply already filed on 11.10.2023 and
copies also supplied to counsel for petitioner as well as
respondent no. 1. Be taken on record.
It is stated that parties have amicably resolved their
dispute, without prejudice to the rights and contentions of the
parties, in the Arbitration proceedings and its final outcome.
Sh. Naresh Kumar Garg, AR of respondent no. 1 has
filed this affidavit of settlement and has also produced four post
dated cheques towards the settled amount which have been
accepted by Sh. Arjun Tokas, AR of the petitioner. It is prayed
that statement of AR of petitioner and AR of respondent no. 1 be
recorded qua the settlement.
Statement of Sh. Arjun Tokas, AR of petitioner and
Sh. Naresh Kumar Garg, AR of respondent no. 1 recorded
separately.
Contd… Page No.2
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From the statements made by respective ARs of
petitioner and respondent no. 1, it appears that respondent no. 1 has
agreed to pay settled sum of Rs. 1,23,32,987/- (Rs. One Crore Twenty
Three Lacs Thirty Two Thousand Nine Hundred and Eight Seven) to
the petitioner in 120 days from today. The amount is to be paid in four
equal monthly installments of Rs.3083246.75/- each. AR of
respondent no. 1 has brought four post dated cheques towards the said
installments first of which is payable on 01.11.2023. Photocopies of
the cheques are Ex. P-2 (colly). The said cheques have been accepted
on behalf of petitioner by their AR who has prayed that encashment of
cheques be awaited before finally disposing of the present petition.
I am satisfied with the voluntariness of the statements made on
behalf of petitioner and respondent no. 1 and hence the same are
accepted.
Perusal of the cheques reveals that last cheque is dated
01.02.2024. Accordingly, matter is listed for further proceedings on
05.02.2024.
Parties shall remain bound by statement made by their
respective ARs. The statements recorded today are without prejudice
to the rights and contentions of the parties in the main Arbitration
proceedings and outcome thereof.
(Illa Rawat)
District Judge (Commercial Court-03)
Central/ THC/ Delhi.
18.10.2023
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