2006 (11) TMI 685

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....of by this Board by an order dated 25.9.2000 with the direction that the 1st petitioner and the 2nd respondent should be deemed to hold 50% interest in the company and directing the 2nd respondent to purchase the interest of the petitioners on a fair valuation to be made by an independent valuer. Accordingly, a valuer was appointed, who had valued the share of the petitioners in the company at Rs. 153 lacs. The petitioners filed an application seeking for direction to the 2nd respondent to pay this consideration. The valuation report of the valuer was contested by the 2nd respondent on various grounds. During the pendency of the application, I held discussions with the parties to amidably settle not only the dispute relating to the valuatio....

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....5 will be divided equally on the basis of the book value as of that date.     3. The respondent will pay a sum of Rs. 7.5 lacs as full and final payment in respect of all claims of the petitioner in so far as the company is concerned.     4. The portion with Hanuman Mandir (front portion) will go to the respondent and the other portion to the petitioner.     5. Respondent will ensure that vacant possession will be handed over to the petitioner latest by 30.10.2006. By the same time, the amount of Rs. 7.5 lacs will also be paid to the petitioner by the respondent. The company will make application for mutation to UPSIDC within a week of handing over.  &nbsp....

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....e counsel for the petitioner submitted that on 2.6.2006 when the consent terms were recorded, the 1st petitioner was mentally depressed due to the demise of one of her close relations a few days earlier and as such she could not comprehend the implications of the consent terms, the counsel for the respondents contended that before the recording of the consent order, both the sides were advised by the Bench to consult their advocates and accordingly, the petitioner not only consulted her advocate but also one of her well wishers who was present in the Chamber and that the order was not only read out but was signed by the petitioner and her counsel. Therefore, to state that she was in a depressed mood cannot be accepted. Further, once a conse....

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....on. Since the other side had by then left, I advised her that if she had any reservation on the consent terms, she could file an application and if the respondent was willing for either modification or recall, the same could be done. Now the respondent is opposed to either for recall of the consent order or for any modification thereto, inspite of my suggesting to him to consider any of the other alternate proposals made by the parties during the discussions on 2.6.2006. 6. From the narration of the discussions recorded above it is evident that the consent terms emerged from willing and voluntary acts of the parties and that the parties were ad idem with regard to the terms as contained in the consent terms. It is not a case of forced a ....