The court granted an extension of time to the respondents to pay the claimed amount in an insolvency case. If paid by the deadline, the motion becomes absolute; otherwise, it stands dismissed.
Time till 31st August 2005 granted. Motion stands absolute if payment is made by then, otherwise dismissed.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
1
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
IN ITS INSOLVENCY JURISDICTION
NOTICE OF MOTION NO.14 OF 2005
WITH
NOTICE OF MOTION NO.15 OF 2005
IN
INSOLVENCY NOTICE NO.N/152 OF 2004
Re: M/s.Sharda Electronics & anr..Judgment Debtors
Ex-parte:
Rashmikant I Choksey ..Petitioning Creditor.
Mr.R.C.Jain for the Petitioning Creditor.
Ms.Lakshmi Murali for Judgment Debtor No.3 and 5.
CORAM : DR.D.Y.CHANDRACHUD, J.
15th March, 2005.
P.C.:
On behalf of Judgment Debtor Nos.3 and 5,
learned counsel prays for time till 31st August,
2005 for making payment of the amount as claimed in
the Insolvency Notice. Counsel appearing on behalf
2
of the Judgment Creditor states that he has no
objection to this request. In the circumstances
the following order is passed:
i) If the Judgment Debtor pays the amount as
claimed in the Insolvency Notice on or before
31st August, 2005, the Notice of Motion shall
stand absolute in terms of prayer clause (b);
ii) In the event of the Judgment Debtor failing
to pay the aforesaid amount, the Motion to
stand dismissed.
Counsel appearing on behalf of the
Judgment Creditor undertakes to inform the
Insolvency Registrar in the event the payment is
made or as the case may be in the event of any
default. The Motion is according disposed of.
Rashmikant I Choksey
M/s.Sharda Electronics & anr.
DR.D.Y.CHANDRACHUD
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court