* IN THE HIGH COURT OF DELHI AT NEW DELHI
+ CS(OS) 3148/2014 & I.A. No.20260/2014
Decided on: 08.01.2015
IN THE MATTER OF
K.K. SPUN PIPE PVT LTD ..... Plaintiff
Through: Ms. Saloni Choudhary, Advocate
versus
BRIJ GOPAL CONSTRUCTION COMPANY PVT LTD AND ANOTHER
.....Defendants
Through: Mr. Bhupesh Narula, Adv.
CORAM
HON'BLE MS.JUSTICE HIMA KOHLI
HIMA KOHLI, J. (ORAL)
1. The plaintiff has instituted the present suit against the defendants praying inter alia for passing a decree of declaration, mandatory and permanent injunction for restraining defendant No.1 from encashing the bank guarantee submitted by the plaintiff to the defendant No.2, for a sum of `1,90,00,000/-.
2. Learned counsels for the parties state that during the pendency of the present proceedings, the parties have been able to negotiate an out of court settlement, as recorded in the Memorandum of Understanding dated 02.12.2014, whereunder the CS(OS) 3148/2014 Page 1 of 3 plaintiff has agreed to provide a Performance Guarantee of `60 lacs to the defendant No.2 and in view thereof, the defendant No.1 has agreed that it will release two bank guarantees of Rs.50 lacs each. Further, it has been agreed that the plaintiffs will approach this Court for withdrawal of the present suit in terms of the settlement arrived at between the parties.
3. Learned counsel for the plaintiff states that in view of the fact that a comprehen