M.K. Shrawat, Member - (1.) The petitioner Mr. Nachiketa Rajpurohit is present in person. On the other hand, Mr. Rukman Naik is present in person representing respondent No. 1 and himself. After persuasion, during the course of hearing, the rival parties have decided to settle the differences amicably. As a result, both the sides have now signed an amicable 'MUTUAL SETTLEMENT AGREEMENT' dated 9 February, 2017. A duly signed and verified copy of the 'Mutual Settlement Agreement' is placed on record. In compliance of the terms and conditions of the said settlement, the petitioner, Mr. Nachiketa Rajpurohit, has decided to exit from the company by transferring his shareholding as incorporated in clauses 2.2, 3.1 and 3.2 of the 'Mutual Settlement Agreement'.
(2.) From the other side, in compliance of the terms of the said agreement, a cheque of Rs. 10,00,000 (Rupees ten lakhs only) bearing No. 000172 and another a cheque of Rs. 20,00,000 (Rupees twenty lakhs only) bearing No. 002685 of Kotak Mahindra Bank both dated 20 February, 2017 totalling Rs. 30,00,000 (Rupees thirty lakhs only) favouring the petitioner have been handed over to him as recorded in clause 2.3 of 'Mutual Settlement Agreement'.
(3.) Rest of the conditions as laid down in clause 4 and sub-clauses as well as clause 5 and sub-clauses and rest of the clauses have either been accomplished to the satisfaction of both the sides or promised to abide by them in future. As a result, the settlement among the parties is complete. As stated in the court, no ill will or dispute is left anymore among the parties. It is also conveyed that both the sides have signed the 'Mutual Settlement Agreement' willfully without any duress. Both are satisfied and happy that a settlement has been arrived at between them. The duly signed agreement is, therefore, made part of this judgment as annexure-A.;