Artalegal Consulting, v. M/S. Continental Hospitals Ltd,

The Hon'ble Sri Justice C.V.Nagarjuna Reddy Company Petition No.110 of 2015 Dated 01.09.2015 Between:

Artalegal Consulting rep. by its Proprietrix Ms.Tanuja J.

... Petitioner and M/s.Continental Hospitals Ltd., rep. by its Managing Director

...Respondent

Counsel for the petitioner: Mr.N.V.Shravan Kumar for Sri Challa Gunaranjan Counsel for the respondent: Mr.P.Vikram The Court made the following:

O r d e r :

This Company Petition is filed for an order to wind up the respondent- Company for non-payment of the debt due to the petitioner.

At the hearing, Mr.Vikram Pooserla, learned Counsel for the respondent, submitted that as per his client's version, it is liable to pay a sum of Rs.8 lakhs to the petitioner and that it is agreeable to pay the

said amount. He has further submitted that after deducting Rs.1,55,591/- towards TDS, Demand Draft bearing No.000569, dated 31-08-2015, of HDFC Bank, Financial District Branch, Hyderabad, for the balance debt of Rs.6,44,409/- is taken out in the name of the petitioner and that if the learned Counsel for the petitioner is willing to take the same, he will hand over the same to him.

Mr.NVS.Shravan Kumar, learned Counsel for the petitioner, submitted that according to his client, a sum of Rs.10,70,000/- is payable, but however, he may be permitted to receive the said Demand Draft and the Company Petition may be closed with liberty to his client to avail any other remedy available to her in law for recovery of the balance debt.

In the light of the above averments of the learned Counsel for the parties, the Company Petition is closed with liberty to the petitioner in terms of the prayer made and in such event, the respondent is entitled to raise all legally permissible pleas to defend itself against such claim.

As a sequel to closure of the Company Petition, Company Application Nos.780 and 781 of 2015, filed

by the petitioner for interim relief, are disposed of as infructuous.

______________________ (C.V.Nagarjuna Reddy, J) Dt: 1st September, 2015 LUR