The authorised representatives of NHAI, the Delhi-Gurgaon Super Connectivity Ltd (DGSCL), which operates the expressway and Infrastructure Development Finance Company Ltd (IDFCL) signed the memorandum of Understanding (MOU) collectively before the court saying "they have reached the settlement."
Accepting various parties' submissions, Justice S Murlidhar disposed of the DGSCL's plea against the NHAI's contract termination order.
"A memorandum of Understanding (MOU) as agreed to by the NHAI, Concessionaire DGSC and IDFC Ltd has been signed today," said the bench, disposing of the DGSCL's plea.
The court added "with the signing of the MOU, it is understood by the parties that the termination notice of December 7, 2011 and the subsequent termination order of February 18, 2012 issued by NHAI to Concessionaire stands withdrawn."
The court had earlier granted time to the NHAI and the DGSCL to settle their differences and consider an out-of-court settlement.
The DGSCL had approached the court after the NHAI had served its preliminary notice in December last year to terminate the contract. The NHAI had subsequently issued the termination order on February 18 this year, accusing the company of having failed in improving services at the 32-lane toll plaza.
The court said "the parties will act in terms of the MOU and will be bound by the terms of the MOU and will perform their obligations mentioned thereunder."