M/S Laxmi Power Cables Pvt Ltd v. M/S Tubas Wire And Conductors Pvt. Ltd.
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY APPLICATION (LODG.) NO. 602 OF 2015 IN COMPANY PETITION NO. 154 OF 2015 M/s. Laxmi Power Cables Pvt. Ltd.
.. Applicant Vs.
M/s. Tubas Wire and Conductors Pvt. Ltd.
.. Respondent WITH CONTEMPT PETITION (LODG.) NO. 10 OF 2015 IN COMPANY PETITION NO. 154 OF 2015 M/s. Tubas Wire and Conductors Pvt. Ltd.
.. Applicant Vs.
M/s. Laxmi Power Cables Pvt. Ltd.
.. Respondent IN OFFICIAL LIQUIDATOR NO. 614 OF 2015 IN COMPANY PETITION NO. 154 OF 2015 The Official Liquidator High Court Bombay .. Petitioner Vs.
M/s. Laxmi Power Cables Pvt. Ltd.
.. Respondent Mr.Yashodhan Gavankar i/b Legal Associates for applicant. Mr.Siddharth Murarka for petitioner.
Mr. Vinod Sharma, O.L. a/w. Ms.Yogini Chauhan, Asstt. O.L. present. Mr.Dhiraj Kukreja-contemnor No.2 present.
CORAM : K.R.SHRIRAM, J.
DATE : 8TH JANUARY, 2016 1/3
P.C.
By consent the following order is passed :
(i) Admittedly, the respondent has paid a sum of Rs.21,00,000/- to the petitioner out of the amount of Rs.37,50,000/- payable as recorded in the order dated 19.03.2015. This leaves a balance of Rs.15,75,000/- to be paid by the company to the petitioner. The Company to pay interest on this outstanding amount of Rs.15,75,000/- at 10% p.a. from 1st June 2015 upto 31st January 2016. (ii) (a) Rs.3,00,000/- will be paid by Demand Draft/RTGS/Pay Order by the petitioner directly to the respondent on or before 12.01.2016.
(b) The balance amount towards principal + interest will be paid on or before 27.01.2016. Contemnor No.2 is present in Court and confirms having received a copy of the contempt petition in-person.
Stand over to 28.01.2016.
COMPANY APPLICATION (LODG.) NO. 602 OF 2015 IN COMPANY PETITION NO. 154 OF 2015 In view of the above, the company application stands disposed with 2/3
liberty to take out fresh application for setting aside the order of winding up, if advised.
Notwithstanding the disposal of the application, the applicant to remove all office objections and have the application numbered. (K.R. SHRIRAM, J.) 3/3