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Judgment
Sanjeev Sachdeva, J
Plaintiff has filed subject suit for recovery of Rs.4,90,00,000/- along with interest at the rate of 15% per annum.
During the pendency of the suit, parties were referred to mediation and settlement agreement dated 23.02.2022 has been entered into between the parties pursuant to the mediation proceedings.
Settlement agreement dated 23.02.2022 has been placed on record. I have perused the same and find the same to be lawful.
In terms of the settlement agreement defendants have agreed to pay a sum of Rs.5,40,00,000/- in installments. The period and amounts of the installments are referred to in the settlement agreement. Post dated cheques towards the installment amount have already been handed over. It is prayed that a decree be passed in terms of the settlement agreement.
Learned counsel appearing for the parties confirm the signatures of their respective clients and confirm the settlement agreement. The settlement agreement is marked exhibit C-1.
Learned counsel for the defendants undertake on behalf of the defendants that defendants shall duly abide by the terms of the settlement and undertake to pay the amount as agreed upon. The undertakings are accepted.
In view of the above, the suit is decreed in favour of the plaintiff and against the defendants in the sum of Rs.5,40,00,000/- in terms of the settlement agreement dated 23.02.2022 (exhibit C-1) which shall form part of the decree.
Decree sheet be prepared accordingly.
Since the settlement has been arrived at through the process of mediation, the Court fees paid on the plaint be returned to the plaintiff in accordance with law.