Namrata Mukesh Makhija v. M/S.Novelty Power And Infratech Ltd, Cin No.U27100mh2005plc150870

cp 182 of 2014 (938).sxw

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY PETITION NO.182 OF 2014 Namrata Mukesh Makhija ...

Petitioner versus M/s. Novelty Power and Infratech Ltd.

...

Respondent Ms. Nichani, for Petitioner.

Mr. Rajiv Hinga, for Respondent.

CORAM: S.J. KATHAWALLA, J.

DATE: 9th FEBRUARY, 2015 P.C.

1.

Heard the learned Advocates for the parties and by consent, the following order is passed :

(i) The Company agrees and undertakes to pay an amount of Rs.6,60,000/- to the Petitioner in full and final settlement of the claim of the Petitioner against the Company.

(ii) The Company further undertakes to pay the said amount of Rs.6,60,000/- to the Petitioner in six equal monthly installments of Rs.1,10,000/- beginning from 15th March, 2015 and the subsequent installments on or before 15th of each succeeding month i.e. upto 15th August, 2015. The undertakings are accepted.

(iii) Upon the Company making the aforestated payments to the ssp 1/2

cp 182 of 2014 (938).sxw Petitioner, the parties shall have no claim against each other. (iv) In the event of the Respondent Company committing default in payment of any of the aforestated installments as undertaken hereinabove, the Company Petition shall without reference to this Court be revived, 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 any 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 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. ) ssp 2/2