v.

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 05.03.2018

CORAM

THE HONOURABLE MR. JUSTICE M.M.SUNDRESH Company Petition No.72 of 2014 and Company Application No.992 of 2014 M/s.Shriram City Union Finance Limited rep. by its Deputy General Manager G.Ravi .. Petitioner Vs.

M/s.Leather Leader Company Private Limited having its Registered Office at No.114/2, Anna Salai Extension, Nagalkent, Chromepet, Chennai - 44.

.. Respondent Petition filed under Sections 433(e) r/w 434(i)(a) and 439 (b) of the Companies Act, 1956 for winding up the respondent company. For Petitioner :

Mr.R.Umashankar for M/s.Sri and Shankar Associates For Respondent :

Mr.A.Anbarasu

ORDER

When the matter is taken up for hearing, it is submitted by the learned counsel appearing for the parties that the matter has been

resolved between the parties. Today, a memo of compromise dated 08.02.2018 duly signed by the parties and attested by their respective counsel, has been filed. The terms of the memo of compromise read as under:

1.The respondent came forward and consented to pay a sum of Rs.5,40,000/- (Rupees Five Lakhs Forty Thousand only) which was the interest payable to the petitioner. The respondent herein issued a demand draft bearing No.229299 dated 03.01.2018 drawn on United Bank of India, Mylapore Branch, Chennai, for a sum of Rs.1,00,000/- (Rupees One Lakh only) and issuing two cheques for the same in favour of M/s.Shriram City Union Finance Limited.

(a)Cheque No.024317 dated 25.01.2018 drawn on United Bank of India, Mylapore Branch for a sum of Rs.2,00,000/- (Rupees two lakhs only) and (b)Cheque No.024327 dated 26.02.2018 drawn on United Bank of India, Mylapore Branch for a sum of Rs.2,40,000/- (Rupees two lakhs forty thousand only) as full and final settlement.

2.The petitioner agreed to withdraw the winding up petition in C.P.No.72 of 2014 unconditionally, on receipt of Rs.5,40,000/- in full.

3.The petitioner shall also issue a letter to the Registrar of Companies that the case is settled and there is no claim against the respondent company on receipt of Rs.5,40,000/- in full.

4.The petitioner has no other claim against the respondent.

2.Learned counsel appearing for the petitioner submits that the memo has been complied with and the petitioner has received the entire amount.

3.Accordingly, the company petition stands disposed of in terms of the memo of compromise. The memo of compromise dated 08.02.2018 shall form part of the order.

05.03.2018 mmi Note: Issue copy of the order on 06.03.2018

M.M.SUNDRESH,J.

mmi Company Petition No.72 of 2014 05.03.2018