Hindustan Dorr-Oliver Ltd. v. Union Roadways Ltd.

10.cp.634.2014.doc dik

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY PETITION NO. 634 OF 2014 WITH COMPANY APPLICATION (L) NO.482 OF 2015 IN COMPANY PETITION NO. 634 OF 2014 M/s Hindustan Dorr Oliver Ltd.

...Applicant In the matter between M/s Union Roadways Ltd.

...Petitioner

vs M/s Hindustan Dorr Oliver Ltd.

...Respondent.

.....

Mr R.R.Varma i/b Ashok M Saraogi for the Petitioner Mr B. Castellino i/b M/s Pandya & Co. for the Respondent. ..........

CORAM : S.C. GUPTE, J.

JULY 13, 2015 P.C. :

By an order passed on 11 September 2014, by consent of the parties, a payment schedule has been agreed to between the parties. The Respondent company has defaulted in payment of two installments of Rs.30,00,000/- each due and payable on or before 10 June 2015 and 10 July 2015 in terms of the order dated 11 September 2014, read with order dated 9 June 2015. Learned Counsel for the Respondent seeks six months' extension for the overall schedule of payment. Learned Counsel for the Petitioner has no objection to this extension being granted, provided the balance payments are all made together with interest @ 12 % p.a. from their respective due dates in terms of the order dated 11 September 2014 read with order dated 9 June 2015.

The payment schedule, in terms of order dated 11 September 2014 with order dated 9 June 2015 is, accordingly, modified by providing for an extension of six months. The installments of Rs.30,00,000/- shall now become due and payable after six months of their respective original due dates and shall be paid with interest calculated @ 12 % p.a.

10.cp.634.2014.doc of the Court of 11 September 2014 and 9 June 2015 till the dates of their respective payments. The Company Application is disposed of accordingly. ( S.C.GUPTE J. ) Pg 2 of 2