- (1.) C.A.No. 247(PB)/2017 This is a joint application which has been filed in the Court and ordered to be taken on record. The application has been filed under Rule 11 of the NCLT Rules 2016 read with Section 151 of the Code. Prayer made in this joint application by the applicants is that the Tribunal may take on record the terms of settlement and connected documents which is duly entered between the parties (Annexure 2, colly) and disposed of all the three petitions pending between them before this Tribunal that is C.P. No. 38(ND) 2015, C.P. No. 61(ND)2015 8b C.P. No. 62(ND) 2015 in accordance with the term of settlement.
(2.) It is appropriate to mention that the parties have been litigating before the erstwhile Company Law Tribunal and then the litigation was transferred to the National Company Law Tribunal on its formation. The litigation between the parties has now eventually reached an amicable settlement. The terms of the settlement have been reduced to writing and have been placed on record as (Annexure 2 colly) between Kaul Group & Bhatia Group which are further formalized in the settlement deed dated 30.06.2017. The acknowledgement with regard to receipt of payment has also been placed on record which is dated 01.07.2017.
(3.) Both Id. counsel for the parties have made categorical statements that all the documents in (Annexure 2, colly) have been duly signed by the parties. Learned Counsel have identified the signature of their respective clients on the settlement and other cognate documents (A-2 colly).;