Supreme Court Orders Execution of Settlement in Ardee Group Family Dispute
NEW DELHI: The Supreme Court has directed the execution of a settlement in a dispute involving the family of the late real estate developer Ashok Varma, related to the Ardee Group and associated family assets.
A bench comprising Justices J K Maheshwari and Atul S Chandurkar took note of the report filed by the mediator appointed by it and ordered the parties to implement the same.
The property dispute involving the Ardee Group involves Shefali Varma and Shibani Varma Kapur, daughters of the late Ashok Varma, regarding control of the family's real estate assets and business interests.
The top court had appointed former top court judge Justice Kurian Joseph, as a mediator to assist the parties in reaching an amicable settlement.
Having considered the gravity of the issue, we propose that the parties should go for mediation, on which senior counsel representing the parties have agreed to take recourse of mediation. By the consent of the senior counsel for both the parties, we request Justice Kurian Joseph, former Judge of this Court, to burn the midnight oil and to help in amicable resolution, if possible, the bench had said in its order.
Justice Joseph had earlier submitted an interim report informing the bench that the parties had successfully resolved their major disputes through mediation. The mediator informed the top court that additional time would be required to work out a comprehensive settlement framework and complete the implementation process.
Taking note of the report, the Supreme Court granted time for implementation of the settlement and directed the parties to carry forward the agreed terms. The interim report placed before the bench said that the parties have reached a settlement of their major disputes.
The Ardee Group is a prominent real estate developer known for its significant projects across India. The resolution of this family dispute is expected to bring stability to the company and its operations, ensuring continued growth and development in the real estate sector.
