SBL PVT LTD Vs. R CHANDAN

JUDGEMENT

(1.) THE plaintiff has instituted the present suit against the defendants for damages.

(2.) DURING the pendency of the present proceedings, the parties were directed to appear before the Delhi High Court Mediation and Conciliation Centre, for exploring the possibility of their arriving at a negotiated settlement. Pursuant to the aforesaid order, the Delhi High Court Mediation and Conciliation Centre has placed on record a Settlement Agreement dated 22.01.2015, wherein it has been recorded that the parties have arrived at a comprehensive settlement not only in respect of the present suit but in respect of three other litigations, detailed in para 6 of the Settlement Agreement. In terms of the Settlement Agreement, both parties have decided to withdraw the litigations filed by them against each other.

(3.) BOTH the parties state that in view of the comprehensive settlement, whereunder it has been agreed that no amount shall be paid by one to the other, nothing further survives for adjudication in the present suit and the same may be disposed of. They also state that as the relief in the present suit was mainly directed against the defendant No.1 and the plaintiff/company has arrived at a settlement with the said defendant, it does not wish to pursue the present suit against the defendant No.2.