Delhi High Court
CONT.CAS(C)/197/2024 of LC NUEVA AIF Vs ZYNGO EV MOBILITY PRIVATE LIMITED THROUGH ITS DIRECTOR MR PRATEEK YADAV & ORS. on 22 July 2026
$~18 * IN THE HIGH COURT OF DELHI AT NEW DELHI + CONT.CAS(C) 197/2024 & CM APPLs. 21958/2026 & 46103/2026 LC NUEVA AIF .....Petitioner Through: Mr. Swapni Gupta with Mr. Tarun Mishra, Advocates. versus ZYNGO EV MOBILITY PRIVATE LIMITED THROUGH ITS DIRECTOR MR PRATEEK YADAV & ORS.
$~18
*
IN THE HIGH COURT OF DELHI AT NEW DELHI
+
CONT.CAS(C) 197/2024 & CM APPLs. 21958/2026 & 46103/2026
LC NUEVA AIF
.....Petitioner
Through:
Mr. Swapni Gupta with Mr. Tarun
Mishra, Advocates.
versus
ZYNGO EV MOBILITY PRIVATE LIMITED THROUGH ITS
DIRECTOR MR PRATEEK YADAV & ORS.
.....Respondents
Through:
Mr. Shantanu Awasthi, Advocate for
respondent nos. 2 and 3 with
respondent no. 2 in person.
CORAM:
HON'BLE MS. JUSTICE MINI PUSHKARNA
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O R D E R
% 22.07.2026 CM APPL. 46103/2026
1. The present is a joint application filed on behalf of the petitioner and respondent no. 2, for bringing on record the Settlement Agreement dated 29th May, 2026 arrived at between the parties.
2. Learned counsels appearing for the parties jointly submit that during the pendency of the present petition, the parties have agreed to amicably settle the disputes for a total consideration of Rs. 2,20,00,000/-, payable by respondent nos. 2 and 3 to the petitioner.
3. It is submitted that out of the total settlement amount of Rs. 2,20,00,000/-, a sum of Rs. 1,90,00,000/- has already been paid by respondent nos. 2 and 3 to the petitioner.
4. It is, thus, submitted that only a sum of Rs. 30,00,000/- remains to be paid to the petitioner herein.
5. Learned counsel appearing for the respondent nos. 2 and 3 submits that pursuant to the order dated 13th May, 2025, a demand draft for a sum of Rs. 30,00,000/-, in the name of Registrar General of this Court, has been prepared, as it was directed that a sum of Rs. 30,00,000/- be deposited in this Court.
6. It is submitted that since the amount of the Rs. 30,00,000/- has been arranged by the respondents in the form of a Fixed Deposit Receipt (“FDR”), the same has not been accepted by the learned Registrar General of this Court.
7. Accordingly, learned counsel appearing for respondent nos. 2 and 3 submits that the respondents be allowed to liquidate the said FDR for a sum of Rs. 30,00,000/-, along with the accrued interest, so that the remaining amount of Rs. 30,00,000/- is paid to the petitioner, in terms of the Settlement Agreement.
8. Learned counsel appearing for the petitioner submits that he has no objection to the same, provided the sum of Rs. 30,00,000/- is paid to the petitioner, expeditiously, upon liquidation of the said sum.
9. Considering the submissions made before this Court, it is directed that the FDR, as issued by the HDFC Bank, for a sum of Rs. 30,00,000/- in the name of Registrar General of this Court, shall be allowed to be liquidated by respondent nos. 2 and 3 herein, along with accrued interest.
10. Upon liquidation of the aforesaid FDR, respondent no. 2 and 3 shall immediately transfer a sum of Rs. 30,00,000/- (Rupees Thirty Lacs Only) in favour of the petitioner in terms of the Settlement Agreement dated 29th
May, 2026.
11. Let the aforesaid process by completed by respondent nos. 2 and 3, including, liquidation of the fixed deposit and transfer of sum of Rs. 30,00,000/- (Rupees Thirty Lacs Only) to the petitioner, within an outer limit of two weeks.
12. With the aforesaid directions, the present petition, alongwith pending applications, is disposed of. MINI PUSHKARNA, J JULY 22, 2026 c