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Judgment
Counsel appearing for the petitioner submitted that the present petition has been preferred for recovery of Rs. 5,44,88,323/- towards channel placement charges to be recovered from the respondent along with interest.
It is further submitted by the counsel for the petitioner that the aforesaid amount is due and payable by the respondent for the period running from 1.1.2019 to 31.12.2019.
It is further submitted by the counsel for the petitioner that an agreement was entered into between the parties to this litigation dated 18.12.2018 (Annexure –C to the memo of this petition). It is submitted by the counsel for the petitioner that as per the terms of the settlement agreement dated 18.12.2018, the Respondent had accepted its liability to make the payment of Rs. 3 ,40,00,000/-.
It is further submitted by the counsel for the petitioner that it was agreed by the respondent to make the payment of agreed amount of Rs.3,40,00,000/- in instalments. Each instalment was fixed at Rs. 28,33,333/- per month.
It is further submitted by the counsel for the petitioner that four instalments have been paid by the respondent and rest of the agreed amount has not been paid by the respondent. Thus, the amount of Rs. 1,13,33,332/- has been paid out of the agreed amount of Rs. 3,40,00,000/-. Thus, the agreed outstanding amount which is to be paid by respondent is at approximately Rs. 1.98 crores. This amount has also not been paid by the respondent.
It is further submitted by the petitioner that this amount may be ordered to be deposited. This amount was to be paid by the respondent along with interest @ 18% p.a. mentioned in invoices issued by the petitioner and therefore, let this amount be directed to be deposited by the respondent before the Registrar of this Tribunal and the matter be placed for its final hearing.
Counsel appearing for the respondent submitted that talks of settlement are going on and hence, they are seeking time. Counsel for the petitioner denies the contention of the respondent that any talk of settlement is going on. It is submitted by the counsel for the petitioner that the respondent is even avoiding the payment of the agreed outstanding amount.
In view of the aforesaid submissions and also looking at Annexure-C to the memo of this petition, which is a settlement agreement dated 18.12.2018 and also looking at the fact that the respondent has agreed to make the payment of Rs. 3.4 crore and out of which, approximately Rs. 1.13 crore has already been paid and, therefore, the outstanding agreed upon amount is approximately at Rs. 1.98 crores.
We, therefore, direct the respondent to deposit Rs. Two crores before the Registrar of this Tribunal on or before 22.7.2022 by way of Bank Draft, which shall be accepted by the Registrar of this Tribunal and be deposited in a nationalized bank in a fixed deposit initially for the period of 12 months.
The deposition of the aforesaid amount shall not be treated as admission of any fact by the respondent. The deposition of the aforesaid amount shall be set off towards the liability of the respondent. In case of no liability of the respondent, the aforesaid amount shall be returned to the respondent with interest.
If the aforesaid amount is not deposited by the respondent on or before 22.7.2022, we direct Mr. Intzar Ali, who is the Director of the respondent company as submitted by the counsel for the respondent, to remain personally present before this Tribunal on the next date of hearing at 11 A.M. If the aforesaid amount is already deposited before this Tribunal as per the directions, there is no need for the Director of the respondent company to remain present before this Tribunal.
This matter is adjourned to 29.7.2022.