Total Oil India Private Limited, v. Getech Equipments International Pvt. Ltd.

The Hon'ble Sri Justice C.V.Nagarjuna Reddy Company Petition No.89 of 2015 Dated 03.08.2015 Between:

Total Oil India Private Limited rep. by its authorized Signatory Mr.M.Ramakrishna ... Petitioner and 1.Getech Equipments International Pvt. Ltd., Hyderabad rep. by its Managing Director Ms.Geetha V.Nair and 2 others.

...Respondents

Counsel for the petitioner: Mr.Chidagam Srinivas for Sri K.Vasudeva Reddy Counsel for respondent Nos.1 to 5: Mr.K.R.Sasidharan Nair The Court made the following:

Order:

This Company Petition is filed for an order to wind up the respondent No.1- Company for nonpayment of the debt due to the petitioner. On behalf of the respondents, respondent No.2, who is the Managing Director of respondent

No.1- Company, has filed her personal affidavit wherein it is inter alia stated that after entering appearance, the respondents have paid a sum of Rs.1 lakh to the petitioner by way of transfer from their Syndicate Bank account to the petitioner's BNP Parabas Bank account on 23-06-2015 and that the respondents are ready and willing to clear off the balance debt of Rs.7,08,916-55 Ps., on or before 30.11.2015.

Mr.Chidagam Srinivas, learned Counsel representing Mr.K.Vasudeva Reddy, learned Counsel for the petitioner, submitted that their client has no objection for the offer made by the respondents. Having regard to the settlement reached between the parties as referred to above, the Company Petition is closed, however, with liberty to the petitioner to avail a fresh remedy, in the event, the respondents do not stand on their commitment for payment of the balance debt.

As a sequel to closure of the Company Petition, Company Application Nos.690 and 691 of 2015 are disposed of as infructuous.

______________________ (C.V.Nagarjuna Reddy, J)

Dt: 3rd August, 2015 LUR