The Delhi High Court disposed of an arbitration petition after the parties successfully resolved all their disputes through a settlement agreement executed at the Delhi High Court Mediation and Conciliation Centre (SAMADHAN). Under the conciliated terms, the respondent agreed to pay a specified settlement amount within a stipulated 90-day period, carrying specific default penalties, with both parties acknowledging that the agreement holds the status of an arbitral award.
- Mediation and Settlement: The parties entered into a settlement agreement on July 16, 2026, through SAMADHAN, amicably settling all disputes arising out of the purchase order forming the subject matter of the petition.
- Payment Terms: The respondent agreed to pay a total settlement amount of Rs. 49,65,877.28/- within 90 days of executing the conciliated agreement, subject to applicable TDS deductions.
- Default Clauses: In the event of a default within the stipulated timeframe, the respondent becomes liable to pay compensation of Rs. 2 lakhs along with an interest rate of 24% per annum for the delayed period.
- Legal Status: Upon full payment of the settlement amount, all inter se claims and disputes will stand fully and finally settled, giving the conciliated agreement the status and effect of an arbitral award pursuant to Sections 73 and 74 of the Arbitration and Conciliation Act, 1996.
- Disposal: The High Court disposed of the arbitration petition along with any pending applications, directing the parties to strictly abide by the terms of the settlement.




