G.E.T Power Ltd v. Kei Industries Ltd

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED : 23.04.2018

CORAM:

THE HONOURABLE MR.JUSTICE M.SATHYANARAYANAN AND THE HONOURABLE MR.JUSTICE P.RAJAMANICKAM O.S.A.No.139 of 2018 and C.M.P.No.8355 of 2018 G.E.T. Power Limited represented by its Authorised Signatory, K.Suryanarayanan, A Public Company incorporated under the Companies Act, 1956, having its registered office at 11-a-117, 5th Cross Road, SIPCOT IT Park, Siruseri, Chennai - 603 103.

Tamil Nadu ..

Petitioner Vs KEI Industries Limited A Listed Company incorporated under the Companies Act, 1956, having its Registered Office at D-90, Okhla Industrial Area, Phase - I, Delhi - 110 020.

represented by its Authorized Signatory Mr.Kisore Kunal ..

Respondent Original Side Appeal filed under Order 36 Rule 1 of O.S.Rules r/w Clause 15 of the Letters Patent r/w 483 of the Companies Act, 1956, against the order dated 21.12.2016 passed in Company Petition No.302 of 2014.

For Appellant :

Mr.Sivanandaraj for Mr.V.Sankaranarayanan For Respondent :

Mr.S.S.Sobti https://hcservices.ecourts.gov.in/hcservices/

JUDGMENT

[Order of the Court was made by M.SATHYANARAYANAN, J] By consent, the appeal is taken up for final disposal.

2. The respective learned counsel appearing for parties would submit that a Joint Memo of Compromise dated 23.04.2018 has been signed between the appellant and respondent. In the light of the same, the impugned order, which is the subject matter of the appeal, may be set aside and the Original Side Appeal can be disposed of in terms of the Joint Memo of Compromise. Learned counsel for the appellant would also submit that pursuant to Serial Nos.1 and 2 of the proposed payment schedule in paragraph No.3 of the Joint Memo of Compromise, Demand Drafts for sums of Rs.25,00,000/- and Rs.10,00,000/- have also been handed over to the learned counsel for respondent, who is also present before this Court and acknowledged the same. The Joint Memo of Compromise dated 23.04.2018 is taken on file and recorded.

This Court, in the light of the above facts and circumstances and taking into account the Joint Memo of Compromise, sets aside the order dated 21.12.2016 passed in Company Petition No.302 of 2014. The Original Side Appeal stands disposed of in terms of the Joint Memo of Compromise dated 23.04.2018 and the same shall form part of the decree. No costs. Connected miscellaneous petition is closed.

Xerox Copy of Memo of Compromise attached.

Sd/- Assistant Registrar(CCC) //True copy// Sub Assistant Registrar gm TO The Sub Assistant Registrar Original Side, High Court, Madras.

O.S.A.No.139 of 2018 GJII(CO) GN(26/07/2018) https://hcservices.ecourts.gov.in/hcservices/