M/S VIJAI INFRASTRUCTURE LIMITED v. M/S PROGRESSIVE CONSTRUCTIONS LIMITED

1. Counsels for the parties jointly state that they were directed to appear before the Delhi High Court Mediation and Conciliation Centre for negotiating a settlement and pursuant thereto, they have arrived at a settlement as recorded in the Settlement Agreement dated 10.03.2015. The terms and conditions of the settlement are set out in para 6 of the Agreement, whereunder both the parties have agreed that the defendant will pay a sum of `4 crores to the plaintiff in three installments, the final installment being payable on or before 15.05.2015.

2. Counsel for the defendant states that the first instalment of `1 crore has already been paid to the plaintiff, which fact is confirmed by the other side. The balance amount has been agreed to be paid in two 2015:DHC:2634 installments, the second installment of `1 crore being due and payable on or before 31.03.2015 and the third and final installment of `2 crores being due and payable on or before 15.05.2015. The consequences of non payment of the balance installments have also been set out in the Settlement Agreement. Counsels for the parties state that the suit may be decreed in terms of the Settlement Agreement.

3. The Court has perused the Settlement Agreement. The same has been signed by the authorised signatories of the plaintiff and the defendant and their respective counsels as also the learned Mediator. Enclosed with the Settlement Agreement are authorisations executed by the plaintiff/company and the defendant/company in favour of their authorised signatories.

4. As the counsels for the plaintiff and the defendant jointly state that they have arrived at the aforesaid settlement of their own free will and volition and without any undue influence or coercion from any quarters, there appears no legal impediment in accepting the settlement. The parties shall remain bound by the terms and conditions of the settlement.

5. The suit is decreed in terms of the settlement arrived at between the parties and recorded in the Settlement Agreement dated 10.03.2015, while leaving the parties to bear their own expenses.

6. At this stage, learned counsel for the plaintiff states that as the parties have arrived at a settlement through the process of court annexed mediation, he may be issued a certificate for refund of the court fees affixed on the plaint.

7. In view of the aforesaid submission, the Registry is directed to issue a certificate of refund of the court fees to the plaintiff under Section 16 of the Court Fees Act.

8. File be consigned to the record room. HIMA KOHLI, J MARCH 19, 2015 rkb