Bombay High CourtCP/735/2015disposed off

Strata Exim Pvt Ltd v. M/S Provogue (India) Ltd Cin L18101mh1997plc111924

2016-12-23Hon'Ble Shri Justice S.C. Gupte2 pages

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912. CP 735-15.doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY PETITION NO.735 OF 2015 Strata Exim Private Limited ...

Petitioner

Versus

M/s Provogue (India) Limited ...

Respondent .....

Mr. S.L. Shah i/b Shah Legal for the Petitioner. Mr. Abhishek P. Deshmukh i/b Sanjiv A. Sawant for the Respondent. Mr. Jaywant Mulik, Legal Manager of M/s Provogue (India) Limited. .....

CORAM : S.C.GUPTE, J.

DATE : 23 DECEMBER 2016.

P.C. :

The company petition is disposed of by consent of the parties in terms of following order :- (i) The Petitioner and the Respondent have amicably settled the dispute and accordingly the Respondent Company agrees to pay the amount of Rs.51,86,000/- (Rs. Fifty One Lakh Eighty Six Thousand Only) as full and final settlement to the Petitioner in 12 equal installments by cheque as mentioned below :- Cheque No.

Date Amount Drawn on '000569 15/01/2017 4,32,167/- Andhra Bank '000570 15/02/2017 4,43,167/- Andhra Bank '000571 15/03/2017 4,43,167/- Andhra Bank '000572 15/04/2017 4,43,167/- Andhra Bank '000573 15/05/2017 4,43,167/- Andhra Bank

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912. CP 735-15.doc '000574 15/06/2017 4,43,167/- Andhra Bank '000575 15/07/2017 4,43,167/- Andhra Bank '000576 15/08/2017 4,43,167/- Andhra Bank '000577 15/09/2017 4,43,167/- Andhra Bank '000578 15/10/2017 4,43,167/- Andhra Bank '000579 15/11/2017 4,43,167/- Andhra Bank '000580 15/12/2017 4,43,167/- Andhra Bank Total 51,86,000/- (ii) Upon payment of the entire amounts of Rs.51,86,000/- (Rs. Fifty One Lakh Eighty Six Thousand Only) by the Respondent as undertaken in clause (i) above, the parties shall have no claim against each other; (iii) In the event of the Respondent Company committing any default in payment of the aforestated installments, the Company Petition shall stand revived and admitted without reference to this Court. The Petitioner shall, in such a case, be entitled to apply for a returnable date for the purpose of issuing the advertisement of the petition on that basis;

(iv) In the event of admission of the petition, the Respondent shall waive notice under Rule 28 of Companies (Court) Rules, 1959;

(v) No order as to costs.

(S.C.GUPTE, J.)