Techjeux Private Limited vs. Albatross Media & Anr.
Facts
The petitioner, Techjeux Private Limited, filed an arbitration petition against Albatross Media and ARY Technologies (OPC) Private Limited concerning disputes arising from a Tripartite Digital Marketing Agreement dated March 14, 2022. The parties were referred to mediation by the Delhi High Court Mediation and Conciliation Centre. On May 9, 2024, the Court was informed that the mediation was successful, and a settlement agreement dated March 20, 2024, had been reached. The settlement stipulated that Albatross Media and ARY Technologies would pay Techjeux Private Limited Rs. 15 lakhs plus GST liability. The settlement agreement detailed the payment schedule and conditions, including the responsibility of ARY Technologies for the GST liability.
Held
The Court held that the settlement agreement dated March 20, 2024, arrived at through mediation, was valid and lawful. The Court perused the terms of the settlement, noting that it was signed by the parties, accompanied by Board Resolutions, and countersigned by the Mediator. Consequently, the Court found no impediment to recording the settlement. The Court directed that the parties and all those acting on their behalf shall be bound by the terms of the settlement agreement, which would have the effect of a decree passed by the Court. The arbitration petition was disposed of as settled, and all pending applications were also disposed of.
Key Issues
1. Whether the settlement agreement dated March 20, 2024, arrived at through mediation, is valid and lawful, and should be recorded by the Court, thereby disposing of the arbitration petition? Petitioner's Contention: The petitioner, Techjeux Private Limited, through its counsel, reported the successful mediation and placed the settlement agreement on record, indicating their acceptance of its terms. Respondents' Contention: The respondents, Albatross Media and ARY Technologies (OPC) Private Limited, were represented by 'None' in the proceedings. The judgment does not record any specific arguments made by the respondents. However, their participation in the mediation and signing of the settlement agreement implies their agreement to its terms.
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Cause title — parties, addresses and appearances
O R D E R % 09.05.2024
This hearing has been done through hybrid mode.
In the present arbitration petition, vide order dated 20th December, 2023, parties were referred to Mediation under the aegis of the Delhi High Court Mediation and Conciliation Centre. Vide order dated 10th April, 2024, this Court had recorded the submission of all the parties that the Mediation was successful and the disputes between the parties were resolved, with only the digital signature of the authorised representative of Respondent No.
Accordingly, parties were directed to place on record the settlement agreement before Court.
Today, the parties report that they have resolved their disputes by way of a settlement agreement dated 20th March, 2024. In compliance with order dated 10th April, 2024, the said settlement agreement has been placed on record before the Court.
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