MIND NEXGENTECH LTD Vs. GREEN MAX SYSTEMS

JUDGEMENT

(1.) THE present application has been jointly filed by the parties stating inter alia that they have arrived at an out of court settlement in respect of the suit instituted by the plaintiff for recovery of Rs. 27,91,145.21 paise alongwith interest.

(2.) COUNSELS for the parties state that the terms and conditions of the settlement have been recorded in para 2 of the application, whereunder the defendant No.2 has agreed to pay a sum of Rs. 6,25,000/ - to the plaintiff in full and final settlement of all its claim against both the defendants. Further, the defendant No.2 has agreed to pay a sum of Rs. 30,000/ - to the plaintiff towards litigation costs.

(3.) WHEN the matter was listed on 07.01.2015, learned counsels for the parties had jointly stated that the defendant No.1, who is appearing in person, was on his way from Bhopal to Delhi but his train had got delayed. Today, learned counsel for the defendant No.2 states that the defendant No.1 had meet him last evening and had handed over two drafts forRs. 6,25,000/ - and Rs. 30,000/ - respectively but due to an emergency, he had to return to Bhopal yesterday itself. Draft No.234939 dated 03.11.2014 for Rs. 625,000/ - and draft No.345217 dated 19.11.2014 for Rs. 30,000/ -, both drawn on Punjab National Bank, Habibganj, Bhopal, MP, in favour of the plaintiff are handed over by the counsel for the defendant No.2 to the counsel for the plaintiff and duly accepted.