Shyam Patkar v. Bombay Rayon Fashions Limited (Cin L17120mh1992plc066880)

Nitin 920-CP-561-2014

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY PETITION NO. 561 OF 2014 Shyam Patkar ...

Petitioner

Versus

Bombay Rayon Fashions Limited ...

Respondent Mr. Suhas S. Patil for the Petitioner.

Mr. Prabhu Velar for the Respondent.

CORAM : S.J. KATHAWALLA, J.

DATED : 16 TH JANUARY, 2015 P.C.

1.

The learned Advocate appearing for the Respondent on instructions agrees and undertakes to pay an amount of Rs. 10,50,000/- to the Petitioner in full and final settlement of the Petitioner's claim against the Respondent in the above Petition, as follows : Rs. 2,65,000/- On or before 23rd January, 2015 Rs. 2,65,000/- On or before 30th January, 2015 Rs. 2,60,000/- On or before 6th February, 2015 Rs. 2,60,000/- On or before 13th February, 2015.

The undertaking is accepted.

ii.

The Respondent Company has agreed that in the event of the Respondent Company committing default in payment of any of the agreed instalments, the Company Petition shall without reference to this Court

Nitin 920-CP-561-2014 revive and the Petitioner shall proceed to comply with the directions given in the order dated 9th January, 2015.

iii.

The Company Petition is accordingly disposed of. (S.J. KATHAWALLA, J.)