M/S. Bharat Jyoti Impex, v. M/S.Ogene Systems India Private Limited

THE HON'BLE SRI JUSTICE C.V.NAGARJUNA REDDY COMPANY PETITION No.146 of 2015 05.10.2015 Between:

M/s.Bharat Jyoti Impex, Mumbai

...Petitioner

And M/s.Ogene Systems India Private Limited, Hyderabad

...Respondent

Counsel for the petitioner: Mr.E.Poornachander Rao Counsel for the respondent: Mr.A.Hanumantha Reddy The Court made the following:

ORDER:

This company petition is filed for an order to wind up the respondent company for non-payment of the debts allegedly due to the petitioner. Both the parties have filed a joint memorandum of understanding (MOU), dated 02.10.2015, containing the terms for payment of amount of Rs.27,43,702/- (Rupees twenty seven lakhs forty three thousand seven hundred and two only) by the respondent in full and final settlement of the claim of the petitioner as per the schedule contained therein.

Mr.E.Poornachander Rao, learned counsel for the petitioner, requested the Court to close the company petition in terms of the said MOU with liberty to his client to enforce the terms thereof against the respondent in the event the latter fails to adhere to the terms of the MOU.

Accordingly, the Company Petition is disposed of in terms of the MOU, dated 02.10.2015 with liberty to the petitioner as prayed for. As a sequel to disposal of the Company Petition, Company Application Nos.963 and 964 of 2015 shall stand disposed of as infructuous. __________________________ (C.V.NAGARJUNA REDDY, J) 05th October, 2015 GHN