JUDGMENT :

MANMEET PRITAM SINGH ARORA, J.

1. The present contempt petition has been filed stating that the Respondent has acted in wilful breach of the Memorandum of Understanding (‘MoU’) dated 07.09.2019 entered into between the parties herein during the pendency of Complaint Case Nos. 27671/2019 & 27736/2019 (‘the cases’) titled as Hans Raj v. AM Investment Advisors and Associations, filed by the Petitioners under Section 138 of Negotiable Instruments Act, 1881 (‘the NI Act’), and the consequent undertaking dated 30.10.2019 given to the MM-03, South, Saket Court, Delhi (‘the Trial Court’) in the said cases.

2. In the MoU, the Respondent acknowledged that he had received from the Petitioners herein stock portfolio valued at Rs. 1,97,62,499/-. In addition, the Respondent agreed to pay a sum of Rs. 69,22,529, which has accrued till 17.07.2019 on the said stocks. The Respondent further agreed to pay interest at the rate of 12% per annum on the above amount till 29.02.2020.

3. This MoU was filed before the Trial Court, wherein, the Respondent gave an undertaking to the Trial Court tha