M/S Schindler India Private Ltd. v. M/S Ijm- India Infrastructure Ltd

HONOURABLE SRI JUSTICE A.RAMALINGESWARA RAO COMPANY PETITION No.9 of 2016 ORDER:

1.

This Company Petition was filed seeking winding up of the respondent company.

2.

When the matter is taken up for consideration today, a Joint Memo is filed by both the parties stating that they have entered into a Memorandum of Understanding on 09.11.2016 at Hyderabad and the respondent agreed to pay an amount of Rs.90,00,000/- towards final settlement of the amount covered under this Company Petition. Accordingly, the respondent company issued a cheque bearing No.141819 dated 09.11.2016 for Rs.89,34,717/-, after deducting the applicable taxes, drawn on HSBC Bank, Somajiguda, Hyderabad, towards full and final settlement. Since the payments as agreed in the Memorandum of Understanding were realized, the petitioner seeks permission of this Court to withdraw the Company Petition in terms of Clause 5 of the Memorandum of Understanding dated 09.11.2016,. 3.

In view of the above Joint Memo filed by the parties, the petitioner is permitted to withdraw the Company Petition. Accordingly, the Company Petition is dismissed as withdrawn. A copy of the Joint Memo shall be appended with this order. ______________________________ A.RAMALINGESWARA RAO, J 26-12-2016 Gsn