Settlement Agreement Resolves Legal Dispute Between Parvez Akhtar and Avigo Trustee Company

The Supreme Court of India recently adjudicated a civil appellate matter concerning a legal dispute between Parvez Akhtar and Avigo Trustee Company Pvt. Ltd. & Ors. The matter, which had initially been presented under Special Leave Petition (C) No. 4707 of 2016, was converted into Civil Appeal No. 3903 of 2017. A related case under Special Leave Petition (C) No. 6417 of 2016 was also taken up as Civil Appeal No. 3904 of 2017.

During the hearing, the learned counsels representing both sides informed the Supreme Court that the parties had amicably settled their disputes outside of court. As a result, a formal settlement agreement was filed before the Court via I.A. No. 4 of 2017 in Civil Appeal No. 3904 of 2017. This settlement agreement was subsequently made an integral part of the final judgment.

Background of the Dispute

The legal dispute originated when the appellant, Parvez Akhtar, brought the matter before the Supreme Court through a Special Leave Petition. The nature of the original legal conflict between Parvez Akhtar and Avigo Trustee Company Pvt. Ltd. & Ors. was not detailed in the judgment; however, the case was significant enough to warrant a hearing before the apex court.

Supreme Court’s Judgment

The Supreme Court, consisting of Justice Kurian Joseph and Justice R. Banumathi, reviewed the matter and acknowledged the parties’ efforts in reaching an out-of-court settlement. Consequently, the Court disposed of both appeals in accordance with the terms outlined in the settlement agreement. The Court ordered that the agreement would form an official part of the judgment.

The judgment concluded with the declaration that there would be no costs imposed on either party. This reflects the Court’s recognition of the amicable resolution between the disputing parties.

Legal Significance of the Settlement

• The decision highlights the importance of alternative dispute resolution (ADR) mechanisms in India’s legal system.
• It showcases the Supreme Court’s pro-dispute resolution stance and its encouragement for parties to resolve disputes amicably.
• The case reinforces the principle that parties involved in litigation should actively explore mutual settlements to reduce the burden on the judiciary.

Final Verdict

The Supreme Court ruled in favor of the settlement, emphasizing its role in ensuring swift justice and reducing unnecessary litigation. The judgment was officially delivered on March 10, 2017, in New Delhi, with Justices Kurian Joseph and R. Banumathi presiding.

The case of Parvez Akhtar vs. Avigo Trustee Company Pvt. Ltd. & Ors. serves as a pertinent example of how legal disputes can be resolved amicably, even at the highest judicial level.

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Download Judgment: Parvez Akhtar vs Avigo Trustee Compan Supreme Court of India Judgment Dated 10-03-2017.pdf