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21. On 13th March 2000, Griesheim and Goyal Gases agreed on the broad terms of a settlement of their disputes (then pending arbitration) relating to the 75,001 equity shares of Bombay Oxygen. Messer Holdings contends that in terms of this understanding Griesheim undertook to transfer these 75,001 shares of Bombay Oxygen to Messer Holdings for a consideration of DM 10 million equivalent to Euro 5,112,918.82. Griesheim agreed to deliver the actual share scrips of Bombay Oxygen to Messer Holdings with duly executed transfer and proxy forms. The terms of this understanding were concluded on 13th March 2000. On 20th May 2000, Griesheim is said to have delivered the physical share scrips for 75,001 shares of Bombay Oxygen to Messer Holdings along with share transfer forms. On 8th August 2000, Messer Holdings paid DM 10 million to Griesheim as consideration for purchase of these shares. Griesheim confirmed receipt.