Memorandum of Settlement ("MoS")

This Memorandum of Settlement ("MoS") is made on this _____ Day of ______, 2022 between:-
Engineers India Limited (hereinafter referred to as "EIL") having its registered office at 1, Bhikaji
Cama Place, New Delhi-110066 which expression shall unless repugnant to the context herein
include its successors and permitted assigns
AND
Kimiya Engineers Pvt. Ltd.(hereinafter referred to as "Contractor") having its registered office at A-
401, 32, Corporate Avenue, New Paper Box Company, Off Mahakali Caves Road, Andheri (E),
Mumbai, - 400093, which expression shall unless repugnant to the context herein include its
successors and permitted assigns.

EIL and Contractor hereinafter individually referred to as 'Party' and collectively as 'Parties'.

WHEREAS the works pertaining to Civil, Structural Finishing and Firefighting Works of Khargar Office
of EIL vide FOA 7711/CONT/KNW13-14/1002 dated 16.08.2013 (hereinafter referred to as
“Contract”).

WHEREAS the Contractor invoked arbitration proceedings claiming dues under the Contract, which
culminated in Award dated 01.09.2017 passed by the Ld Sole Arbitrator Sh Minoo Siodia, vide which
the Ld Sole Arbitrator allowed claims of INR 2,70,50,382.70/- plus interest @ 10% per annum from
07.05.2016 till payment. This award was challenged by EIL before the Delhi High Court by way of a
Section 34 petition which was dismissed by the High Court vide judgment dated 18.04.2022 in OMP
(COMM) 458/2017.

WHEREAS the Parties met over video conferencing through Webex on 28.10.2022 at 15:00 Hrs and
after amicable discussions agreed to resolve the dispute.

NOW THEREFORE the Parties hereto, intending to be legally bound,irrevocably agree as follows:-

1. That the Parties have arrived at this settlement as full and final settlement of all dues
and disputes for an amount of INR 4,24,00,000/- and EIL will hand over the Demand
Draft No. _____ dated _______ drawn on _______ for an amount of ______ (after
deduction of TDS) in favour of the Contractor M/s Kimiya Engineers Pvt. Ltd. payable at
_____ in compliance with the settlement. The Contractor confirms receiving the said
Demand Draft on this ____Day of _____, 2022 towards full and final settlement of all
dues relating to the Contract.

2. That the Contractor agrees not to initiate or pursue any legal proceedings or
proceedings of any nature in respect of any dispute, claims or dues with respect to the
Contract under reference on any forum whatsoever, subject to EIL accepting the terms
of the MoS. The Contractor agrees to cease from initiating or continuing any
executionproceedings or any proceedings including garnishee proceedings / recovery
suit et al before any forum whatsoever and agrees to withdraw any execution
proceedings / not file execution petition before any forum wheresoever.

3. That EIL and the Contractor hereby agree that once the amounts paid and received as
detailed above, there shall lie no claim on any account whatsoever either by EIL on the
Contractor or by the Contractor on EIL and the Contract shall be deemed to have been
closed and both the parties shall have discharged their respective obligation in respect
of the said Contract.

4. This MoS shall be signed in two original and each Party shall retain an original.
EFFECTIVE DATE:This MoS shall become effective upon the date on which it has been signed by the
Parties.

MODIFICATION: No amendment, change, addition or modification of the terms set forth in this MoS
shall be effective or binding upon either of the Parties unless reduced to writing and executed by the
duly authorised representatives of each party.

SEVERABILITY: In case, any one or more of the provisions or parts of a provision become
unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other
provision of this MoS and this MoS shall to the fullest extent be lawful and construed as if such
invalid or illegal or unenforceable provision or part of the provision has never been contained
herein, and such provision or part shall be construed in a manner that it would be valid, legal and
enforceable to the maximum extent possible.

IN WITNESS WHEREOF, the Parties have through their duly authorised representatives signed this
MOS on this ____Day of ______, 2022.

Signed on behalf EIL Signed on behalf Contractor

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(__________) (________________)
(Authorised Representative) (Authorised Representative)

WITNESS: WITNESS:

1. 1.

2. 2.