National Highways Authority of India v. Nirmal EOT Ltd

1. These two arejoint applications filed by the parties in the aforesaid petitions with the following prayers "(a) Allow the present Petition to be withdrawn in light ofthe SettlementAgreementdated 18.09.2020intense theparties; (h) Pass any such further order(s) that this Hon 'tie Court deemfit andproper in thefacts and circumstances ofthe case." lA 9365/2020 in OMP miCOMMI 198/2018

2. This application has been filed by Nirmal BOT Ltd with the following prayers; "(a)Direct the Registry to release Rs.7, 12,07,270/- deposited by the Respondent in the Court, as per Court order dated 02.05.2018, along with the interest in terms of the Settlement Agreement dated 18.09.2020, electronically. The bank accountdetails ofthe Petitioner are detailed below: o Particulars Credit AccountName NirmalBOTLtd Bank IDBIBank Address Mittal Court,A wing,2ndFloor, Nariman Point, Mumbai, Maharashtra - 400021 Account No. 004103000025869 RTGS/IFS Code IBKL0000004 (b)Passsuch otherfurther order/orders which this Hon'hle Courtmay deem fitandproper in the interestofjustice."

3. In substance,it is stated in the applications thatthe parties herein have settled their inter-se disputes with regard to Arbitration Award of2016 and Arbitration Award of2019(under challenge in these petitions) by entering into a Settlement Agreement dated September 18, 2020. The terms of settlement,as reflected in the applications are the following:- "2. THEAMOUNTOFFULL AND FINAL SFTTLFMFNT Parties hereby agree that amount offull andfinal settlement against the aforesaid Arbitration Awards isRs.40.35 Crore (Rupees Forty Crore Thirty Five Lakh onlv). Out of this, the amount of Rs. 7,12,07,2701- has already been deposited by the Authority before the High Court of Delhi on 15.05.2018. The Concessionaire and the Authority acknowledge, undertake and agree that payment of this amountofRs40.35 Croreshallconstitute a validdischarge under this Agreement.Foravoidance ofdoubtthere are no otherpast,presentor there shall not be anyfuture liabilities, claims or counter claims bv eitherParty towards the Arbitration Award.

3. OBLIGATIONS OFPARTIES u 3.[1] Obligations ofNHAI a. Part Payment of amount Rs.30.00 Crore (Rupees Thirty Crore Only) within 30 days ofthis Agreement and balance within 10 days from receipt ofthefinal accountfrom Concessionaire duly adjusting the amount(Principal plus Interest) receivedfrom registry ofHigh Court ofDelhi. Thus, totalfinal amount ofRs. 40.35 Crore shall be full &final settlement amount towards the Arbitration Awards and it shallalso include applicable taxes. b. Withdrawalofall itspending cases as on date asperpara5ofthis settlement agreement against the Concessionaire relating to this contract. 3.[2] OBLIGATIONS OF THE CONCESSIONAIRE: a. Withdrawalofall itspending cases as on date asperpara 5ofthis settlement agreement, if any, against NHAI prior to release o/ the paymentas agreed before relating to this contract. "4. TERMS OFSETTLEMENT j 4.[1] The Parties hereby acknowledge and agree that payment of aforementioned amounts as mentioned in Clasuse 2 is thefull and final amount due/payable by One Party to the Second Party under the Concession Agreementtowards the Arbitration Awards. 4.[2] Both the parties agree to represent before the High Court of Delhi that the amount ofRs.7,12,07,270/- deposited by the Authority in the Court, as per Court order dated 02.05.2018, shall be released to the Concessionaire immediately along with the interest towards part payment of this settlement agreement. As mentioned in para 3.1(a), Authority shall also makepartpayment ofRs.30 Crores, after statutory deduction, to the concessionaire within 10days ofsigning of this Agreement. Thereafter, both the parties agree that the balance settlementamount, net ofRs.30 crores & court released amount,shall be made available within 10 working days to Concessionaire based on submission ofdocumentary evidence ofprevious release so as to make up the total aggregated amountofRs.40.35 crores all inclusive oftaxes. 4.[3] The parties hereby confirm that they don't have any residual, pending or any other claims, disputes againsteach other in respectall claims, demands, disputes etc. ofthe Concessionaire including that arising out ofor in relation to the Arbitration Awards against the otherparty namely NHAIstands settled without anyfurther recourse whatsoever.

5. PENDING PROCEEDINGS 5.[1] NHAI i) NHAI vj- M/s NirmalEOTLtd Case No. OMR Comm No.4 of2017 before the Hon'ble High CourtofDelhi ii) NHAI vs M/s Nirmal EOT Ltd Case No. OMP Comm No. 533 o/2019 before the Hon'bleHigh CourtofDelhi 5.[2] Concessionaire M/s Nirmal EOT Ltd. Vs. NHAI Case No. O.M.P. (I) (COMM.) 198/2018 before theHon'ble High CourtofDelhi".

4. Learned counsels for the parties states that the Settlement Agreement dated September 18, 2020 ('Settlement Agreement', for short) as annexed along with the applications be taken on record. Learned counsels also state that the parties shall adhere to the terms ofthe settlement. They also state that in view of the Settlement Agreement, more specifically Clause 2 read with Clause 4.2, an amount of Rs.7,12,07,270/- deposited by the NHAI,in this Court in terms oforder dated May 02,2018,along with accrued interest be released to the Concessionaire i.e., the respondent herein namely NIRMAL EOT Ltd.

5. On October 14,2020,[1] had called for a reportfrom the Registry. The Registiy has stated that an amount ofRs.7,12,07,270/- was deposited in the Registry pursuant to the order dated May 02,2018 and the same has been kept in FDR and the maturity amount as on November 02, 2020 is Rs.8,02,82,197/-(Rs.7,12,07,270/- principal+Rs.90,74,927/-interest).

6. In view of the prayers made in the applications, the Settlement Agreement dated September 18, 2020 is taken on record. OMP(COMM) 04/2017 and OMP(COMM)533/2019 are dismissed as withdrawn and the aforesaid amount of Rs.7,12,07,270/- with accrued interest till the date of remittance be released to the respondent NIRMAL BOX Ltd. by transferring the said amount to the account of NIRMAL BOX Ltd. as per the details given in para 11 ofthe application being LA.9365/2020 in OMP(I)(COMM) 198/2018. Xhe same shall be done within two weeks from today. Xhe Registiy shall provide to the learned counsel for NHAI and NIRMAL BOX Ltd., the details ofthe exact amount transferred in the account ofNIRMAL BOX Ltd. in terms ofthis order by way ofan email,to be sent within three days thereafter for information.

7. In view ofthis order,Mr.Mehta seeks to withdraw OMP(I)(COMM.) 198/2018. Xhe same is dismissed as withdrawn. Connected applications,if any are also dismissed as withdrawn.

V.KAMESWAR RAO,J DECEMBER 15,l^Wak