M/S. Techfab India Industries Limited v. M/S. M.Venakata Rao Infra Projects Pvt. Ltd.,

THE HON'BLE SRI JUSTICE C.V.NAGARJUNA REDDY COMPANY PETITION No.40 of 2015 29.06.2015 Between:

M/s.Techfab India Industries Limited, Mumbai

...Petitioner

And M/s.M.Venkata Rao Infra Projects Pvt. Ltd., Visakhapatnam

...Respondent

Counsel for the petitioner: Mr.Ramesh Mallam Counsel for the respondent: Ms.Deepti Anand for Mr.Vikram Pooserla 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.

At the hearing, Ms.Deepti Anand, learned counsel representing Mr.Vikram Pooserla, learned counsel for the respondent, submitted that her client has paid a sum of Rs.55,00,000/-, vide demand draft No.131227, dated 27.06.2015, drawn on Andhra Bank, Santacruz Branch, Mumbai, to the petitioner and that the Chief Financial Manager of the petitioner has acknowledged the same, vide his letter, dated 27.06.2015, addressed to the respondent, wherein it was stated that the petitioner has received the aforesaid amount as full and final settlement of its claim and it has released and discharged the respondent of its claim. The learned counsel for the petitioner has not disputed this submission.

In the light of the above facts, which are placed on record, the Company Petition is disposed of as settled out of Court. As a sequel to disposal of the Company Petition, Company Application No.231 of 2015 shall stand disposed of as infructuous. __________________________ (C.V.NAGARJUNA REDDY, J) 29th June, 2015 GHN