High Court of DelhiCO.PET./359/2016

Ultratech Cement Ltd. v. Brys International Pvt. Ltd

2018-08-272 pages

$~CP-47 *

IN THE HIGH COURT OF DELHI AT NEW DELHI

+ CO.PET. 359/2016 ULTRATECH CEMENT LTD.

..... Petitioner Through Ms.Deepa Sharma, Adv. with Mr.Chandra Mohan,AR.

versus BRYS INTERNATIONAL PVT. LTD ..... Respondent Through Mr.Krishnendu Datta and Mr.Rahul Malhotra,Advs.

Mr.Arjun Kant and Mr.Aditya Gogna, Advs.

Mr.D.Bhattacharya,Adv. for OL

CORAM:

HON'BLE MR. JUSTICE JAYANT NATH

O R D E R

% 27.08.2018 CO.PET. 359/2016 & CA 955/2018 Learned counsel for the petitioner and respondent state that they have settled the matter. Two demand drafts totalling Rs.98,00,000/- have been handed over to learned counsel for the petitioner in court today in full and final settlement of all the dues. One demand draft is bearing No.702836 of Punjab and Sind Bank, Atta, Noida for an amount of Rs.41,65,000/-; and other demand draft is bearing No.270956 of Punjab and Sind Bank, Kaushambi,Ghaziabad, U.P.

for an amount of Rs.56,35,000/- dated 23.8.2018.

Learned counsel for the parties pray that the order of this court dated 20.09.2017 admitting the petition and appointing the OL as the Provisional Liquidator may be recalled.

Learned counsel appearing for the OL states that expenses of

Rs.24,00,000/- have been spent on the company on account of security and other expenses.

Accordingly, the order dated 20.9.2017 is recalled, subject to the respondent paying a sum of Rs.24,00,000/- to the OL. The order appointing the OL as the Provisional Liquidator would stand recalled on payment of the dues of the OL. OL will de-seal the premises which have been sealed by it and hand over the possession to the Authorised Representative of the respondent company on payment of the dues of the OL. Learned counsel for the respondent states that he will pay the dues of the OL within eight weeks from today.

Learned counsel for the petitioner submits that subject to realization of these drafts she seeks to withdraw the petition. Petition is dismissed as withdrawn. All pending applications, if any, also stand disposed of.

JAYANT NATH, J AUGUST 27, 2018 n