M/S.Tata Capital Financial Services Ltd. v. M/S Chadalavada Infratech Ltd.,

THE HON'BLE SRI JUSTICE C.V.NAGARJUNA REDDY COMPANY PETITION No.20 of 2013 DATE: 15.07.2015 Between:

Tata Capital Financial Services Ltd

...Petitioner

and M/s.Chadalavada Infratech Limited and another

...Respondents

COUNSEL FOR THE PETITIONER : Ms.SHIREEN SETHNA BARIA COUNSEL FOR RESPONDENT No.1 : SRI V.RAVINDER RAO THE HON'BLE SRI JUSTICE C.V.NAGARJUNA REDDY COMPANY PETITION No.20 of 2013

ORDER:

This Company Petition is filed to wind up respondent No.1 for non-payment of debt due to the petitioner.

At the hearing, Sri V.Ravinder Rao, learned counsel for respondent No.1 has placed before the Court joint memo, dated 15.07.2015 entered into by both the parties.

A perusal of the above memo shows that the parties have agreed to payment terms under Conditions 1 to 4 (a) to (d). The parties have also entered into a separate settlement agreement, dated 14.07.2015.

The Registry is directed to assign USR Number to the bunch of papers described as joint memo filed on behalf of the petitioner and respondent No.1.

In the light of the settlement agreement and the joint memo referred to above, which are placed on record, the Company Petition is closed. It is made clear that if respondent No.1 fails to adhere to the payment terms, the petitioner shall be at liberty to avail a fresh remedy. As a sequel to closure of Company Petition, Company Application No.1066 of 2015 stands disposed of as infructuous. C.V.NAGARJUNA REDDY, J 15th JULY, 2015.

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