Blue Star Ltd v. Collage Estates Pvt Ltd

$~CP-8 *

IN THE HIGH COURT OF DELHI AT NEW DELHI

+ CO.PET. 337/2013 BLUE STAR LTD ..... Petitioner Through Mr.Yashvardhan, Adv.

Versus

COLLAGE ESTATES PVT LTD ..... Respondent Through Mr.Abhimanyu Mahajan, Mr.Sarthak Mehrotra and Ms.Anubha Goel, Advs.

Mr.Kunal Sharma, Adv. for the OL.

CORAM:

HON'BLE MR. JUSTICE JAYANT NATH

O R D E R

% 20.12.2018 Pursuant to the last order of this court dated 06.12.2018 the respondent has paid an additional sum of Rs.25 lacs vide cheque No.464482 dated 20.12.2018 drawn on Axis Bank Ltd., East of Kailash, New Delhi 110065 to the petitioner. The respondent has also handed over 12 post dated cheques being Nos.464483 to 464494 dated 31.01.2019 to 31.12.2019, drawn on Axis Bank Ltd. for Rs.18,75,000/-.

It is stated that on encashment of the cheques the entire dues of the petitioner shall stand satisfied.

The learned counsel for the petitioner says that they have not checked the calculation and there is a possibility of the additional payments may be payable by the respondent. In case, such payments are payable by the respondent, the petitioner is free to call upon the respondent to make necessary payments. Upon failure, the petitioner is free to take steps as per

law.

The learned counsel for the respondent will ensure that the cheques will be duly encashed on presentation by the bankers. Petition stands disposed of. However, liberty is given to the petitioner to take steps including the steps for revival of the present petition in case any post dated cheques are returned unpaid.

The order appointing the Official Liquidator as the provisional liquidator is revoked.

JAYANT NATH, J.

DECEMBER 20, 2018/v