Nik-San Engineering Company Ltd. v. Prakash Shah

1 / 2 902-NMAL-2610-17.odt

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION APPEAL (L) NO.453 OF 2017 IN COMPANY PETITION NO.1253 OF 2015 WITH NOTICE OF MOTION (L) NO.2610 OF 2017 IN APPEAL (L) NO.453 OF 2017 IN COMPANY PETITION NO.1253 OF 2015 M/s Nik-San Engineering Company Ltd.

.... Applicant In the matter between :

M/s Nik-San Engineering Company Ltd.

.... Appellant versus Prakash Shah ... Respondent .......

• Mr.Rushil Mehta, Advocate for the Applicant/Appellant. • Mr.Anirudha Lad i/b. B.J. Law Offices LLP, Advocate for the Respondent.

CORAM : SMT. VASANTI A. NAIK & SARANG V. KOTWAL, JJ.

DATE : 20th DECEMBER, 2017.

P.C. :

Heard.

The Company Appeals are disposed of with the consent of the learned counsel for the parties on the following terms; Nesarikar

2 / 2 902-NMAL-2610-17.odt 1.

The order of the Company Judge dated 21/11/2017 would not be acted upon.

2.

The appellant would deposit 40% of the amount due and payable to the respondent-company as mentioned in the order dated 21/11/2017, within four days.

3.

The remaining amount i.e. 60% of the amount would be paid by the appellant to the respondent-company within three months i.e. on or before 20/03/2018.

4.

No further extension for repayment of the amount due would be sought by the appellant.

5.

If the amount as aforesaid is not paid by the appellant to the respondent-company within the time stipulated hereinabove, the order of the learned Company Judge dated 21/11/2017 would revive and operate.

6.

No order as to costs.

7.

With the disposal of the appeal, Notice of Motion (L) No.2610/17 is disposed of.

(SARANG V. KOTWAL, J.) (SMT. VASANTI A. NAIK, J.)