Bajaj Electricals Limited v. Southern Petrochemicals

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 05.12.2022 C O R A M THE HON'BLE MR. JUSTICE KRISHNAN RAMASAMY COMPANY PETITION. No.298 of 2014 & Comp.A.Nos.49 & 50 of 2021 Bajaj Electricals Limited, A Company incorporated under the Companies Act, 1956, having its registered office at No.45/47, Veer Nariman Road, Mumbai-400 001.

rep. by its Power of Attorney and General Manager-Sales Support (south), having office at No.103, Nelson Manikkam Road, Aminjikkarai, Chennai-600 023.

... Petitioner Vs Southern Petrochemicals Industries Corporation Limited, A Company incorporated under the Companies Act, 1956, having its registered office at ''SPIC House'', 88, Mount Road, Guindy, Chennai -600 032.

... Respondent PRAYER : This petition is filed under Section 433(e)&(f), 434 (1)(a) and 439(1) (b) of the Companies Act, 1956, praying: 1/4

(a)to wind up the respondent Company viz., the Southern Petrochemicals Industries Corporation Limited, a Company incorporated under the Companies Act, 1956, having its registered office at ''SPIC House'', 88, Mount Road, Guindy, Chennai-600 032, (b)to appoint the Official Liquidator as Liquidator of the respondent company viz., the Southern Petrochemicals Industries Corporation Limited, a Company incorporated under the Companies Act, 1956, having its registered office at ''SPIC House'', 88, Mount Road, Guindy, Chennai-600 032, with all powers under the Companies Act, 1956 to take charge of the Company and to conduct its affairs in the course of its winding up, (c)to direct the respondent to pay the costs of this petition. For Petitioner : Mr. Thriyambak J. Kannan For Respondent : Ms.A.L.Gandhimathi

O R D E R

Today, when the matter is taken up for hearing, the learned counsel for the petitioner has submitted that the matter has been settled between the parties amicably. He has also filed a Memo of withdrawal dated 05.12.2022 by enclosing the Settlement Agreement dated 16.03.2022 arrived at between the parties. The learned counsel appearing for the respondent has also conceded the same. Therefore, both the learned counsel would urge this 2/4

Court to dispose of the present petition in terms of the Settlement Agreement dated 16.03.2022.

2.In view of the submission made by the learned counsel for the parties and considering the Memo of Withdrawal dated 05.12.2022 filed along with the Settlement Agreement dated 16.03.2022 arrived at between the parties having settled the dispute amicably, this Company Petition is disposed of, in terms of the Settlement Agreement dated 16.03.2022. No costs. Consequently, connected Comp.A.Nos.49 & 50 of 2021 are closed. The Settlement Agreement dated 16.03.2022 shall form part of this order. 05.12.2022 dn 3/4

KRISHNAN RAMASAMY, J.

dn COMPANY PETITION. No.298 of 2014 & Comp.A.Nos.49 & 50 of 2021 05.12.2022 4/4