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2018 (9) TMI 928 - DELHI HIGH COURTValidity of Settlement Agreement - whether the Agreement is binding on parties - case of plaintiff is that since the settlement was not recorded, no payment is liable to be made - Held that:- The Defendants have not only enjoyed the entire sum which was to be paid to the Plaintiff since 2014, but even as of 2018, when submissions were heard in the matter, the Defendants were not willing to make the payment. Repeatedly, the matter was adjourned on various occasions including on 16th July, 2018, 18th July, 2018 and 24th July, 2018 and finally on 9th August, 2018 the submissions were heard and the judgment was reserved. On all these occasions, learned counsel for the Defendants had taken the stand, that if the settlement is recorded now, the payments would be as per the instalments in the Settlement Agreement and even now the Defendants are not willing to make the entire payment at one go. The Defendants categorically asserted before the Court that no interest is liable to be paid by them. A perusal of the escrow agreements also shows that the same have been only signed by the Defendants and not by the Plaintiff. In any event, these escrow agreements were prior to the Settlement Agreement, which supersedes the escrow agreements. This Court has no option but to decree the suit along with a higher rate of interest - Suit is disposed off.
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