TMI Blog2021 (12) TMI 1396X X X X Extracts X X X X X X X X Extracts X X X X ..... l the outcome of the aforesaid Suits and subject to the ultimate outcome of the aforesaid Suits and on such deposit, the respondent(s) shall execute the Sale Deed in favour of the petitioners - original plaintiffs and handover peaceful and vacant possession. It is reported that respondent is personally present in the Court and the aforesaid statement is made in his presence and he has also agreed to the aforesaid and the order which is being passed. The Commercial Court, Ludhiana are directed to invest the aforesaid amount to be deposited by the petitioners, as observed herein above, in the name of the Respondent No.1 herein original Defendant Nos. 2 3 in a Fixed Deposit in any nationalized Bank and the same shall be appropriated sub ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Respondent:-Mr. R.K. Raizada, Sr. Adv., Mr. Karan Dalal, Adv., Mr. Ritaj Kacker, Adv. and Mr. Deepkaran Dalal, AOR ORDER The present contempt proceedings have been initiated by the original plaintiffs alleging disobedience of the order dated 30.08.2019 passed by this Court in SLP (C) No. 21032 of 2019. In the aforesaid proceedings, the Terms of Settlement arrived at between the parties was placed on record and it was prayed to dispose of the aforesaid Special Leave Petition in terms of the Settlement. By an order dated 30.08.2019, this Court disposed of the Special Leave Petition in terms of the compromise arrived at between the parties. Under the Terms of Settlement agreed between the parties, the respondent-herein wa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e pending and still the same was not disclosed before this Court. Therefore, to that extent, it can be said that there was suppression of material facts. The respondent is a party to the aforesaid Suits filed by Hero Cycles Limited as Defendant Nos. 2 3. The particulars of those Suits [Hero Cycles Ltd. vs. Atma Tube Products Ltd. Ors.] pending before the Commercial Court, Ludhiana, are as under: 1. CS/60/2017 2. CS/61/2017 3. CS/62/2017 4. CS/63/2017 5. CS/64/2017 6. CS/65/2017 7. CS/66/2017 8. CS/67/2017 Therefore, the suppression of the aforesaid material facts would warrant action under the provisions of the Contempt of Courts Act. On considering the fact that Respondent No.1 has agreed that on deposit of the entire balan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... such deposit, the actual and vacant possession of the property in question shall be handed over by the Respondent No.1 to the petitioners herein original plaintiffs. We direct the Commercial Court, Ludhiana to invest the aforesaid amount to be deposited by the petitioners, as observed herein above, in the name of the Respondent No.1 herein original Defendant Nos. 2 3 in a Fixed Deposit in any nationalized Bank and the same shall be appropriated subject to the ultimate outcome of the aforesaid Commercial Suits. If the aforesaid Suits are decreed in favour of the original plaintiffs - Hero Cycles Limited and in case the Commercial Court holds in favour of the respondent No.1 herein, in that case, subject to the order that may be pas ..... X X X X Extracts X X X X X X X X Extracts X X X X
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