Sudhir Transformers Ltd. v. Lanco Infratech Limited

THE HON'BLE SRI JUSTICE C.V.NAGARJUNA REDDY COMPANY PETITION No.34 of 2015 07.07.2015 Between:

Sudhir Transformers Ltd., Bangalore, Karnataka

...Petitioner

And Lanco Infratech Limited, Hyderabad

...Respondent

Counsel for the petitioner: Mr.T.Raghunandan Reddy for Mr.P.Raja Sripathi Rao Counsel for the respondent: Mr.P.Harish Kumar for Sri Challa Gunaranjan 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.

Mr.Challa Gunaranjan, learned counsel for the respondent, filed a memo, vide USR No.2909 of 2015, dated 06.07.2015, wherein it is stated that the parties have entered into settlement agreement on 02.07.2015, as per which, the respondent has agreed to pay and the petitioner has agreed to receive a sum of Rs.35,43,902/- in full and final settlement of the latter's claim and that in pursuance of the said agreement, demand draft (DD) bearing No.014626, dated 25.06.2015, drawn on I.D.B.I. Bank, Hyderabad, for the aforesaid sum was received by the petitioner from the respondent under acknowledgement. Along with the memo, the learned counsel for the respondent has filed copies of settlement agreement, dated 02.07.2015, and DD. Learned counsel for the petitioner has affirmed the claim of the respondent that the dispute has been settled and the amount has been received by the petitioner.

In the light of the above facts, the Company Petition is closed as settled out of Court.

As a sequel of closure of the Company Petition, Comp.A.Nos.221, 222, 223, 224 and 225 of 2015 filed by the petitioner for interim reliefs shall stand dismissed as infructuous. __________________________ (C.V.NAGARJUNA REDDY, J) 07th July, 2015 GHN