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Addendum To Settlement (Indian Bank) 19.10.2024

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0% found this document useful (0 votes)
14 views4 pages

Addendum To Settlement (Indian Bank) 19.10.2024

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prashivar
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© © All Rights Reserved
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ADDENDUM TO SETTLEMENT AGREEMENT

This Addendum to Settlement Agreement ("Addendum") is made and executed at Gautam


Budhha Nagar on this 20th day of October, 2024 and is an extension of the Settlement
Agreement dated 26.10.2023.

BETWEEN

RAJESH PROJECTS (lNDlA) PVT. LTD. (ClN: U45201DL1999PTC101984), a company


validly existing under the provisions of the Companies Act, 2013, having its registered office
at Shop No.214, LSC Block-B, RG City Centre, Lawrence Road, Delhi 110035 and site
office at RG Luxury Homes Plot No. GH-07A, Sector 16- B, Greater Noida (West), District
Gautam Buddha Nagar, Uttar Pradesh acting through its Authorised signatory Shri Sanjay
Kumar Jha, (Aadhar No.: 588059552265) authorised by the lnterim Resolution Professional
(lRP) Mr. Manoj Kulshrestha appointed vide order dated 01 .06.2021 of the Hon'ble National
Company Law Tribunal and Shri Rajesh Goyal, Promoter of M/s Rajesh Projects (India) Pvt.
Ltd. (hereinafter referred to as the "First Party/ Company", which expression shall, unless
repugnant to the context or meaning thereof, be deemed to mean and include its successor-in-
interest, administrators, executors, and permitted assigns) of the FIRST PART;

AND

Mr. Sandeep Gupta S/o Mr. R.K.Gupta and Mrs. Renu Gupta W/o Mr. Sandeep Gupta
Both R/o. D-585/6, Street No. 3, Ashok Nagar, Delhi-110093 (hereinafter referred to as the
"Second Party", which expression shall, unless it is repugnant to the context or meaning
thereof be deemed to mean and include his/her representatives, Successors, legal heirs,
executors, permitted assigns, administrators) which expression shall, unless it be repugnant to
the context or meaning thereof, shall be deemed to mean and include their heirs, successors,
legal representative, administrator, executors and assigns of ‘Second Part’.

The First Party and the Second Party shall individually be referred as Party and shall jointly
be referred as Parties.

WHEREAS:

A. The Parties signed a Settlement Agreement on 26.10.2023, to amicably resolve all their
disputes related to the Unit bearing no. A-3004 (as mentioned in the aforesaid Settlement
Agreement) in the Project “RG Luxury Homes” of the First Party. However, the recital as
to withdrawal/quashing of FIR’s pending before EOW, Delhi, which was agreed to be
withdrawn/quashed by the Second Party could, inadvertently, not be mentioned in the
said Settlement Agreement dated 26.10.2023.
B. That Second Party acknowledge that it has come to his/her knowledge that there are 4
FIR’s no. 157/2018, 174/2019. 173/2019 and 204/2019 pending at PS-Economic Offence
Wing against the First Party and its Directors & others and the Second Party undertake
that he/she shall cooperate in filing the petition before the Hon’ble High Court of
Delhi/Competent Court of Law for Quashing of abovementioned EOW FIR’s Pending
before PS Economic Offence wing.

Now the parties hereby agree through this Addendum on the following terms:

1. That the Second Party further undertake that the Second Party shall cooperate in filing
the petition before the Hon’ble High Court of Delhi for Quashing of abovesaid FIR’s.

2. That Second Party hereby confirm and declare that he shall not oppose the prayer of
quashing of above stated FIR’s before the Hon’ble High Court of Delhi/Competent
Court of Law.

3. That this Addendum has been reduced in writing for the purpose of quashing of above
said FIR’s, which is pending investigation & settlement of all other disputes as
mentioned in the Settlement Agreement dated 26.10.2023.

4. That the Second party releases the First Party from all rights and claims that they may
have against the other arising from the dispute described above.

5. That this Addendum is intended to bind and benefit the parties, their successors, heirs,
legal representatives, executors, administrators, nominee/s, and assignees in interest.

6. That Second Party undertakes and agrees that once the aforesaid FIR’s are quashed, the
Second Party hereto will not re-activate/ revive the abovesaid FIR’s and its consequent
proceedings/ dispute/ claim, etc. or object to the FIRST PARTY’s application (if
required) to have such proceedings compounded/ dismissed/ quashed, in any applicable
court of law and will rather support the same.

7. That the signing of this Addendum by both the parties will mean and operate as waiver
of all the claims/ interests which the Second party may have against the First Party, and
would amount to withdrawal/ surrendering of the same, which may be pending before
any other applicable/ concerned Authority/ Court.

8. Notwithstanding the foregoing, the Company shall have the right to independently
submit the Settlement Agreement dated 26.10.2023 and this Addendum with the
judicial authority where the Complaints or any other action of the Second Party that
comes to the knowledge of the Company is pending and seek disposal of the
Complaints and other such actions of the Second Party. The Second Party agrees and
authorizes the Company in this regard and further agrees that it shall not raise any
dispute against the disposal of the Complaints and other actions, initiated and obtained
by the Company.

9. It is agreed between the Parties that there are no unresolved issues, pending claims,
disputes, or grievances, whatsoever, pending between the Parties after the execution of
this Addendum and that the Second Party has hereby represented to the Company that
it shall remain bound by the terms and conditions of the Settlement Agreement dated
26.10.2023 and this Addendum.

10. That the Second Party undertakes that this Addendum has been concluded without any
coercion, undue influence, threat etc. and is full and final and binding upon the Parties
and now nothing is payable by the First Party. That all claims, disputes, and conflicts of
the Second Party shall be finally considered as settled for once.

11. The Second Party understands that information/ documents related to the Settlement
Agreement dated 26.10.2023 and this Addendum and the contents of the same are
confidential and must not be disclosed to any third party and disclosure of the same to
any person shall prejudicially affect the rights/ interest of the Company. The Second
Party undertakes and warrants to the Company that it shall not disclose the information
/ documents to any other person, except as expressly required by Law and shall also
keep/ hold the Settlement Agreement dated 26.10.2023 and this Addendum and the
contents thereof confidential.

12. This Addendum is an integral part of the original Settlement Agreement dated
26.10.2023 and all other the terms and conditions shall remain unchanged and shall
continue to remain in full force and effect and binding on the parties.

13. That the Parties agree and commit to resolve any differences amongst them through
amicable deliberations. Should a dispute or difference amongst the Parties still persist,
then such dispute or difference in relation to Settlement Agreement dated 26.10.2023
and this Addendum or any clause hereof in relation to the rights, duties and obligations
of the Parties hereto, shall be settled by arbitration in accordance with the provisions of
the Arbitration and Conciliation Act, 1996 as amended from time to time by a sole
arbitrator appointed mutually by the Parties in accordance with the provisions of the
said Act. The venue of arbitration shall be Gautam Buddha Nagar. The Courts at
Gautam Buddha Nagar, Uttar Pradesh shall have the exclusive jurisdiction over any
dispute pertaining to this Agreement.

14. This addendum is being executed in two counter parts. One part to be retained by each
party.
IN WITNESS WHEREOF, THE PARTIES ABOVE NAMED HAVE PUT THEIR
RESPECTIVE HANDS AND SEAL AS FIRST HEREINABOVE WRITTEN.

For Rajesh Projects (India) Private For the Second Party


Limited

_______________ _____________
Sanjay Kumar Jha Sandeep Gupta
(Authorized Signatory)
Aadhar No.
Aadhar No. 588059552265 Mob no. 9810422822
PAN. AJTPJ2332E E. Mail.
E. Mail.

________________
Renu Gupta

Aadhar No.
Mob. 8130422822
E.mail.

Witness 1 Witness 2

Name: Name:
Address: Address:

Mob. ______________ Mob. ______________

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