ANKUR BHATEJA Vs. PARSVANATH DEVELOPERS LTD

JUDGEMENT

(1.) Counsels for the parties jointly state they have arrived at an out of court settlement and the same has been reduced into a Memorandum of Settlement dated 7.5.2015, whereunder the defendant has agreed to pay a sum of Rs.33,95,521/- to the plaintiff in full and final settlement of all his claims, subject matter of the present suit, along with interest @13.5% p.a. from the date of deposit of each of the instalments. It is stated that post dated cheques have been given by the defendant to the plaintiff towards the satisfaction of the aforesaid amount and the defendant has given an assurance that as when the said cheques are presented for encashment, the same shall be duly honoured. The Memorandum of Settlement dated 7.5.2015 is taken on record.

(2.) As counsels for the plaintiff and the defendant jointly state that their clients 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 recorded in the Memorandum of Settlement dated 7.5.2015.

(3.) The suit is decreed in terms of the settlement arrived at and recorded in the aforesaid Memorandum of Settlement, while leaving the parties to bear their own costs.