M/S The Indian Electric Company v. Mr. G Narada Raju

THE HON'BLE SRI JUSTICE CHALLA KODANDA RAM CONTEMPT CASE No. 2517 of 2018 ORDER:

This Contempt Case is filed alleging violation of the order dated 21.09.2015 passed by this Court in C.P. No.98 of 2015. It is submitted by the learned counsel for the respondent that the respondent was the Managing Director of M/s. Nawa Engineers & Consultants Private Limited and in C.P.No.98 of 2015, the said company was directed to be wound up and the Official Liquidator had taken control over the same. It is also submitted that the respondent paid substantial money to the tune of Rs.41,00,000/- to the petitioner as against the original claim of Rs.45,46,144/-.

Basically, the respondent being the erstwhile Managing Director of the company in liquidation had undertaken to pay the liability to the petitioner. In view of the same, if at all there is any criminal liability, the same would be of the aforesaid company in liquidation.

Inasmuch as substantial amount was already paid by the respondent to the petitioner, which indicates bona fides on the

CKR, J C.C.No.2517 of 2018 part of the respondent, this Court is of the opinion that this Contempt Case need not be proceeded with further. Accordingly, this Contempt Case is closed leaving open to the petitioner to workout the remedies as available to it under the Companies Act and the Rules made thereunder.

_________________________ CHALLA KODANDA RAM, J 6th FEBRUARY, 2020.

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