Allowed

M/S. Desarch Pentacles Pvt. Ltd. v. M/S.Gemini Equipn Pvt. Ltd.

Bombay HC4 Sept 2013CA/599/2012

Case brief

AI extract

What is this about?

In a consent settlement during Company Application No. 599 of 2012, the applicant agreed to pay Rs. Twelve lakhs to the petitioner, resulting in the recall of an order admitting the company petition and its restoration to the pending admission stage subject to cheque honors.

What did the court decide?

Company application allowed; order admitting company petition recalled and restored to pending admission stage.

M/S. Desarch Pentacles Pvt. Ltd. Vs M/S.Gemini Equipn… — Company and Corporate | Bombay HC (2013)

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION

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COMPANY APPLICATION NO. 599 OF 2012 IN COMPANY PETITION NO. 311 OF 2012 WITH COMPANY PETITION NO. 311 OF 2012

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M/s. Desarch Pentacles Pvt. Ltd. ... Applicant.

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In the matter between :

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M/s. Gemini Equipments Pvt. Ltd., … Petitioner.

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Vs.

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M/s. Desarch Pentacles Pvt. Ltd., ... Respondent. ---

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M/s. Shamli Hajela i/by H & M. Legal Associates for the Applicant/ Respondent.

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Mr.Tejas Deshpande for the Petitioner.

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CORAM : N. M. JAMDAR, J. DATE : 04^th SEPTEMBER, 2013

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P.C. :

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1 By this company application, taken out by the applicant/respondent, it is prayed that the order passed on 24^th August, 2012, admitting the company petition be recalled.

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2 By order dated 13^th August,2013, the parties were put to notice that the court may take up company application as well as company petition for hearing arguments. Accordingly, the application was taken up for arguments. During the course of the hearing of the application and the company petition, the parties have arrived at an amicable settlement. The learned counsel for the applicant and the learned counsel for the respondent, the original petitioner, on instructions state that the following order be passed by consent and no reasons in support thereof be given.

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3 The company application no.599/2012 is

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allowed and the order passed, admitting the company petition no. 311 of 2012 is hereby recalled. It is stated that pursuant to the admission of the petition, requisite advertisement was issued and no claims have been received. The original petitioner will file an affidavit to that effect within a period of one week from today.

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4 The company petition is restored to the stage “pending admission”.

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5 The applicant/ respondent has agreed to pay the amount of Rs. Twelve lakhs by way of six installments of Rs. Two lakhs each. The petitioner has accepted this offer made by the applicant/ respondent. The demand draft of Rs. Two lakhs dated, 1^st September, 2013 is handed over to the learned counsel for the petitioner in the court. The post dated cheques for remaining five instalments have also been handed over to the learned counsel for the petitioner.

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6 The petition shall be listed for “direction” on 17^th February, 2014. However, in case of any eventuality of the cheques being dishonoured, upon an affidavit filed to that effect by the petitioner, the matter will be placed for admission.

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7 If the amount of Rs. Twelve lakhs is paid as per the cheques issued to the petitioner, then the petitioner will withdraw the petition on the next date.

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8 Order accordingly.

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M/S. Desarch Pentacles Pvt. Ltd. v. M/S.Gemini Equipn Pvt. Ltd.

Case brief

What is this about?

What did the court decide?

M/S. Desarch Pentacles Pvt. Ltd. v. M/S.Gemini Equipn Pvt. Ltd.

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Parties & counsel

Coram

Case details

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