Kkrg Textiles Pvt. Ltd. And Another v. Gokuldham Real Estate Development Co. Pvt. Ltd.

Nitin 1 / 2 1036-CP-284-2015

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY PETITION NO. 284 OF 2015 KKRG Textiles Private Limited ...

Petitioner

Versus

Gokuldham Real Estate Development Company Private Limited ...

Respondent Mr.Prateek Sekseria a/w. Ms. Sneha i/b. Mustafa Motiwala for the Petitioner.

Ms. Rujuta Patil i/b. Negandhi Shah and Himayatullah for the Respondent.

Mr. Dhiraj Kumar Agarwal, Director of the Petitioner, present. CORAM : S.J. KATHAWALLA, J.

DATED : 20 TH APRIL, 2015 P.C.

1.

The learned Advocates appearing for the Petitioner and the Respondent have tendered Consent Terms dated 20th April, 2015. They submit that the Consent Terms be taken on record and the above Petition be disposed of in terms of the Consent Terms. The Consent Terms are taken on record and marked "X" for identification. The Consent Terms are signed by the Director of the Petitioner and the Authorized Signatory of the Respondent. The Consent Terms are also signed by the Advocates for the parties. The undertakings recorded in the consent Terms are accepted.

2.

It is clarified that in the event of any default in payment of

Nitin 2 / 2 1036-CP-284-2015 installments set out in clause (3) of the Consent Terms, the Respondent shall make good the same by way of RTGS or Bankers cheque within seven days of such dishonour, the Company Petition shall without reference to this Court revive, 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 such 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 / assets of the Company. Notice under Rule 28 of the Companies (Court) Rules, 1959 shall also stand waived on behalf of the Company.

3.

The above Petition is disposed of in terms of Consent Terms marked 'X' as well as clarification set out in para (2). (S.J. KATHAWALLA, J.)