GLOBSYN TECHNOLOGIES LTD Vs. ASIASOFT INDIA P LTD

JUDGEMENT

(1.) LEARNED counsel for the parties submit that the parties have negotiated an amicable settlement in terms whereof the defendant appellant has to pay a sum of Rs.20 lacs to the plaintiff respondent in full and final settlement of the claim in the suit. They further point out that the suit out of which the present appeal arises has already been disposed of by the Single Judge in terms of the said settlement. All that remains however is the payment of the amount agreed by the appellant to the respondent herein. The appellant has, in pursuance of the settlement, today handed over a bank draft bearing No. 002764 dated 18.09.2007 for Rs.20 lacs drawn on United Bank of India to counsel for the respondent who acknowledges receipt of the amount in complete discharge of the liability under the settlement as also the claims and counter claims of the parties. In that view, therefore, nothing further survives for consideration in this appeal which is disposed of as settled.