Binal Textile Engineers A Proprietary Firm Of Mr Mayur R. Mody v. Subhtex India Ltd Cin U99999mh1987plc045305

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY PETITION NO.86 OF 2015 Binal Textile Engineers, a Proprietary Firm of Mr. Mayur R. Mody ...

Petitioner versus M/s. Subhtex India Ltd.

...

Respondent Ms. S. Shah i/by M/s. Mehta and Girdharlal, for Petitioner. Mr. Vinay Poddar, Director of Respondent, present. CORAM: S.J. KATHAWALLA, J.

DATE: 22nd APRIL, 2015 P.C.

1.

At the request of the learned Advocate for the Petitioner and the Director of the Respondent, the above Petition is taken up for passing of an order by consent :

(i) The Respondent Company undertakes to pay an amount of Rs.1,49,172/- in full and final settlement of the claim of the Petitioner to the Petitioner. The Respondent Company has handed over three post dated cheques payable on 15-06-2015, 15-07-2015 and 15-08-2015 aggregating to Rs.1,49,172/-.

(ii) Upon the said cheques being cleared, the parties shall have no claim against each other.

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cp 86 of 2015 (939).sxw (iv) In the event of the cheque being dishonoured on any ground whatsoever, the Respondent Company has agreed that the Company Petition shall without reference to this Court revive, stand admitted, made returnable within six weeks from the date of default and advertised in two local newspapers i.e. Free Press Journal (in English) and Navshakti (in Marathi) and in the Maharashtra Government Gazette. The Petitioner shall deposit an amount of Rs.10,000/- with the Prothonotary and Senior Master of this Court towards publication charges, within two weeks from the date of default, with intimation to the Company Registrar failing which the Petition shall stand dismissed for non prosecution.

In the event of such default the Official Liquidator shall forthwith stand appointed as provisional Liquidator and shall immediately take charge of the records as well as the movable and immovable properties / assets of the Company. Notice under Rule 28 of the Companies (Court) Rules, 1959 shall also stand waived on behalf of the Company. (v) The Company Petition is accordingly disposed of. ( S.J.KATHAWALLA, J.