Vivek Jain v. Unitech Ltd.

Delhi High Court · 14 Oct 2011 · 2011:DHC:9161
Manmohan
CO.PET. 392/2011
2011:DHC:9161
civil petition_allowed

AI Summary

The Delhi High Court disposed of the petition based on a binding settlement between the parties, allowing revival if settlement terms are not met.

Full Text
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#39 $- HIGH COURT OF DELHI
CO.PET. 392/2011
VIVEK JAIN AND ANR.
Through
VERSUS
Petitioners Mr. Chandra Shekhar Yadav with Mr. P.K. Yadav, Advocates.
• UNITECH LTD. AND ANR. Respondent
Through Mr. Sunil Goel with Mr. Pranav Sapra, Advocates with Mr. Ashok Dubey, DGM (Legal).
CORAM:
HON'BLE MR. JUSTICE MANMOHAN
14.10.2011 Mr. Sunil Goel, learned counsel for the respondent, on instruction of
Mr. Ashok Dubey, DGM (Legal) of respondent-company states that in a bid to amicably resolve the disputes, re spondent- company is ready and willing to pay a sum of Z 6,35,000/- to the petitioner.
Mr. Sunil Goel further states that respondent-company would negotiate, settle and repay ICICI Home Finance Company Limited (ICICI) on behalf of the petitioner.
Mr. C.S. Yadav, learned counsel for the petitioner states that the aforesaid settlement is acceptable to the petitioner, provided the amount of
6,35,000/- is repaid within a period of eight weeks and the disputes with
ICICI are settled within a period of four months.
CO.PET 39212011 Page 1 of2 op 2011:DHC:9161 "I
( Mr. SUnil Goel on instructions states that respondent is agreeable to the aforesaid conditions. Mr. Goel further states that after the dues of
ICICI are settled, respondent will ensure that ICICI issues a no objection certificate to the petitioner.
Keeping in view the aforesaid statements, Mr. C.S. Yadav also b undertakes to withdraw the petition filed by petitioner before Delhi
National Consumer Disputes Redressal Commission qua the petitioner.
The aforesaid statements made by both the counsel are accepted by this Court and both the parties are held bound by the same.
It is agreed between the parties that this order shall not be treated as a precedent. It is also agreed that in case the payment is not made in the aforesaid stipulated period, the petitioner shall be at liberty to seek revival of the present petition
Accordingly, the present petition is disposed of in terms of aforesaid
I settlement.
Order dasti.
IL-J II MANMOIIJ - OCTOBER 14, 2011 rn COPET. 39212011
2011:DHC:9161
JUDGMENT