VINEET ADYA Vs. M/S. CARABIAN LEISUREENTERTAINMENT PVT.

JUDGEMENT

(1.) CM APPL. 21163/2017 (joint application u/O XXIII R 3 CPC) The present joint application has been filed by the parties stating inter alia that they have been able to arrive at an out of court negotiated settlement, whereunder the respondents have und ertaken to pay a sum of Rs. 25 lakhs to the appellant in ten instalments as detailed in para 3(a) of the application.

(2.) Counsel for the respondents hands over ten post dated cheques to the appellant towards the ten instalments. The respondent No.2 who is present in person, undertakes on his behalf and on behalf of the respondent No.1/Company that the aforesaid cheques, as and when presented, shall be duly honoured. Copies of the ten post dated cheques are handed over and taken on record. Respondent No.2 has also given a personal guarantee for the encashment of the said cheques. It has been made clear to the respondent No.2 that in the event any of the post dated cheques are dishonoured or remain unencashed for any reason attributable to the respondents, apart from the right of the appellant to seek revival of the present appeal on merits, the respondent No.2 shall be held personally liable and proceeded against for contempt of court proceedings.

(3.) It is further stated by the counsels for the parties that besides the sum of Rs. 25 lakhs that the respondents have agreed to pay to the appellant, they have also given their consent for the appellant to retain the security deposit of Rs. 15 lakhs and in addition, the respondents have agreed to transfer the title of all the goods including the kitchen appliances, furniture, fixtures etc. belonging to them and lying at the premises bearing Unit No.158 and 159, DLF South Court Mall, Saket, New Delhi, to the appellant on an 'as is where is' basis, which the appellant shall be entitled to sell/dispose of and appropriate the sale proceeds towards the balance amount due and payable by the respondents, without fastening any responsibility of them to pay any further amounts to the appellant.