M/S. Nik- San Engineering Co. Ltd. v. M/S. Pravarsh Impex

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY PETITION NO.1251 OF 2015 M/s. Pravarsh Impex Private Limited ....Petitioner Vs.

M/s. Nik-San Engineering Company Ltd.

....Respondent ---- Mr. Benny Joseph I/b. BJ Law Offices LLP for petitioner. Mr. Sandeep Chavan, authorised signatory of petitioner present. Mr. Rushil Mehta for respondent.

Mr. Abhishek Choudhary, Director of respondent company present. ---- CORAM : K.R.SHRIRAM, J.

DATE : 5th JULY 2018 P.C.:

Parties have entered into consent terms dated 5th July 2018. The consent terms signed by the authorised signatory of petitioner, director of respondent and their respective advocates is taken on record and marked "X" for identification. Mr. Mehta, counsel for respondent company states that Mr. Abhishek Choudhary is authorised to sign this consent terms by the Board of Directors and he shall forward a copy of the resolution, authorising Mr. Abhishek Choudhary to sign the consent terms, to the advocate for petitioner within one week from today. Statement accepted as an undertaking to this Court.

Order in terms of the consent terms. All undertakings given in the consent terms are accepted and so ordered. For ease of reference,

2/7 scanned copy of the consent terms is reproduced herein :

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5/7 The six installments towards interest have been agreed to be paid every month beginning 20th August 2018 and ending on 20th February

6/7 2019.

Mr. Abhishek Choudhary, Director of respondent company assures this Court for himself personally, on behalf of the other Directors of the company and the company that the amounts will be paid on the dates mentioned in the consent terms. This assurance is taken as further undertaking to this Court. It is made clear that if there is any default, petitioner will be at liberty to execute this order as a decree of this Court against not only respondent company but Mr. Abhishek Choudhary in his personal capacity and all the other Directors of the company. Since the admission of the petition has been advertised, respondent to advertise this settlement and proposed withdrawal of petition in Free Press Journal and Navshakti. The advertisement to be given within one week from today.

Respondent company has filed First Appeal bearing stamp no.13515 of 2018. Thought it is not part of the assignment of this Court, the counsel by consent request that this Court may take up the First Appeal for hearing now so that respondent, who is appellant in First Appeal, can withdraw the same.

Therefore, by consent First Appeal stamp No.13515 of 2018 is taken up for hearing and dismissed as withdrawn. Civil application stamp

7/7 nos.13517 of 2018 and 13516 of 2018 also stand disposed. Refund of court fees, if any, in accordance with rules.

Mr. Joseph, counsel for petitioner states that petitioner will not execute the decree, that it has obtained from the City Civil Court at Dindoshi in Summary Suit No.374 of 2016, so long as the installments are being paid as per the consent terms. Statement accepted. Stand over to 27th July 2018 for withdrawal.

(K.R. SHRIRAM, J.)