Final Order 16

Order Details: COPY OF ORDER
Pdf Text: CS (COMM) 48/24
Punjab National Bank Vs. Puneet Textiles
13.02.2025
Present: Shri Deokant Tripathi – Ld. Counsel for plaintiff
alongwith AR.
Defendant in person.
Earlier the matter was sent to mediation cell but same could not
be settled due to some issue remained pending. Now the parties have
reached to further settlement.
Both the parties are directed to appear before Ld. Judge
Incharge, Mediation Centre today itself at 11.30 am.
Be awaited for report at 02.30 pm.
(Pitamber Dutt)
District Judge (Commercial Court-01)
East/Karkardooma Courts-13.02.2025
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CS (COMM) 48/24
Punjab National Bank Vs. Puneet Textiles
13.02.2025
At 01.00 pm
Mediation report received from the mediation cell.
Present: Shri Deokant Tripathi – Ld. Counsel for plaintiff
alongwith AR.
Defendant in person.
Both the parties have settled their dispute with the intervention
of the mediation cell. They prayed that their statement may be
recorded and present suit may be decreed in terms of the compromise.
Separate statement of AR of plaintiff and defendant in person
have been recorded in this regard.
I have heard Ld. Counsel for the plaintiff, defendant in person
perused the settlement Ex.PX as well as statement recorded in the
court. Perusal of the above shows that plaintiff and defendant have
settled their disputes amicably with the intervention of mediation cell
whereby defendant has agreed to pay the one time settlement amount
of Rs.8,50,000/- to the plaintiff bank towards the entire claim of
plaintiff against her within three months from 03.03.2025 i.e. by
02.06.2025. Defendant has also agreed to pay a sum of Rs.1,70,000/-
to the plaintiff bank on or before 03.03.2025 and remaining amount of
Rs.6,80,000/- shall be paid by her to the plaintiff on or before
02.06.2025.
It has also been agreed between the defendant and the plaintiff
that in case defendant fails to pay the above settled amount within a
period of three months as agreed then, she will be allowed to pay the
remaining amount remained payable as on 02.06.2025 within a further
period of three months from that date with prevalent bank interest
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alongwith 1% penalty on reducing balance basis w.e.f. 03.03.2025, as
per the circular dated 01.04.2024 bearing no. 21/2024 issued by
Punjab National Bank.
It has also been agreed that in case if the defendant fails to pay
the entire amount even within the extended period of three months,
then she shall be liable to pay the entire suit amount i.e.
Rs.11,62,719.83/- alongwith interest @ 7% per annum from the date
of filing of the suit till the realization after adjusting the amount paid
by her till the date of default.
The settlement, so arrived at between the parties is a lawful
settlement and I see no legal impediment in accepting the same.
In view of the above facts and circumstances, the present suit
filed by the plaintiff against the defendant is decreed as compromised
in terms of the settlement Ex.PX as well as statements recorded today
in the court, which shall form part and parcel of the decree. A
compromise decree be accordingly drawn.
As the matter has been settled with the intervention of
mediation cell, the plaintiff shall be entitled for refund of court fees as
per Section 16 of Court Fees Act.
File be consigned to Record Room.
(Pitamber Dutt)
District Judge (Commercial Court-01)
East/Karkardooma Courts-13.02.2025
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CS (COMM) 48/24
Punjab National Bank Vs. Puneet Textiles
13.02.2025
Statement of Mr. Harun Raseed S/o Mr. Sanaullah Ansari , Punjab
National Bank, Circle Sastra, Centre East Delhi - Officer/AR of
plaintiff bank.
On SA
I am the AR of the plaintiff bank and authorized to make
statement vide authority letter dated 25.07.2024 Ex.P-1. The plaintiff
and defendant have settled their dispute amicably with the
intervention of the mediation cell vide settlement Ex.PX which bears
my signatures on each page at Point A.
As per the settlement, defendant has agreed to pay a total sum
of Rs.8,50,000/- to the plaintiff bank as one time settlement towards
the entire claim of plaintiff against her on or before 02.06.2025.
In compliance of the above settlement, the defendant has
agreed to pay Rs.1,70,000/- to the plaintiff bank on or before
03.03.2025 and shall pay the remaining amount of Rs.6,80,000/- to the
plaintiff bank on or before 02.06.2025.
It has also been agreed between the defendant and the plaintiff
that in case defendant fails to pay the entire above settled amount
within a period of three months as agreed then, she will be allowed to
pay the remaining amount remained payable as on 02.06.2025 within
a further period of three months from that date. However, on the said
remaining amount, she shall pay prevalent bank interest alongwith 1%
penalty on reducing balance basis, as per the circular dated 01.04.2024
bearing no. 21/2024 of Punjab National Bank.
It has also been agreed that if defendant fails to pay the above
settled amount even within the extended period of three months, then
defendant shall be liable to pay the entire suit amount i.e.
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Rs.11,62,719.83/- alongwith interest @ 7% per annum from the date
of filing of the suit till the realization after adjusting the amount paid
by her till the date of default.
The present suit may be decreed as compromised in terms of
settlement as well as my statement.
RO&AC
(Pitamber Dutt)
District Judge (Commercial Court-01)
East/Karkardooma Courts-13.02.2025
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CS (COMM) 48/24
Punjab National Bank Vs. Puneet Textiles
13.02.2025
Statement of Ms. Harsha Jain W/o Shri Ajay Kr. Jain aged 48 years
R/o H.No. 71, First Floor, Gali No. 8, New Krishna Nagar, Delhi –
110051 (Proprietor of defendant).
On SA
I am the proprietor of the defendant firm namely Puneet
Textiles. Copy of my aadhar card is Ex.D-1. I have settled my dispute
with the plaintiff amicably with the intervention of the mediation cell
vide settlement Ex.PX which bears my signatures on each page at
Point B.
As per the settlement, I have agreed to pay a sum of
Rs.8,50,000/- to the plaintiff bank as one time settlement towards the
entire claim of plaintiff against me on or before 02.06.2025.
In compliance of the above settlement, I shall pay Rs.1,70,000/-
to the plaintiff bank on or before 03.03.2025 and the remaining
amount of Rs.6,80,000/- shall be paid by me to the plaintiff bank on or
before 02.06.2025.
It has also been agreed between me and the plaintiff that in case
I fail to pay the entire above settled amount within a period of three
months as agreed then, I shall be allowed to pay the remaining amount
remained payable as on 02.06.2025 within a further period of three
months from that date. However, on the said remaining amount for
that period, I shall pay prevalent bank interest alongwith 1% penalty
on reducing balance basis, as per the circular dated 01.04.2024
bearing no. 21/2024 of Punjab National Bank.
It has also been agreed that if I fail to pay the above settled
amount even within the extended period of three months, then I shall
be liable to pay the entire suit amount i.e. Rs.11,62,719.83/- alongwith
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interest @ 7% per annum from the date of filing of the suit till the
realization after adjusting the amount paid by me till the date of
default.
I have no objection if the present suit is decreed as
compromised in terms of settlement as well as my statement.
RO&AC
(Pitamber Dutt)
District Judge (Commercial Court-01)
East/Karkardooma Courts-13.02.2025
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