Disposed

Ador Welding Ltd, v. Karpara Project Engineering Pvt.Ltd, Cin NO.U45201MH2002PTC215936

Bombay HC15 Dec 2014CP/174/2014

Case brief

AI extract

What is this about?

Under civil jurisdiction of the Bombay High Court, the petitioner company secured an undertaking from the respondent company to pay a specific sum in installments to settle its claims. The court accepted undertakings regarding the company's financial status and discharged the petition without further advertisement.

What did the court decide?

Undertakings accepted; no further advertisement required; petition disposed. Default leads to winding-up.

Ador Welding Ltd, Vs Karpara Project Engineering… — Company and Corporate | Bombay HC (2014)

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cp 174 of 2014 (925).sxw

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

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COMPANY PETITION NO.174 OF 2014

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Ador Welding Ltd. V/s.	…	Petitioner
Karpara Project Engineering Pvt. Ltd.	…	Respondent

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Mr. J.J.Devashrayee, for Petitioner.

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Ms. Dharmika Patel with Mrs. Armita Jasani i/by M/s. Purnanand and Co., for Respondent.

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Mr. Bhide, C.S. of Petitioner present.

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Mr. Vijit Nair, MD of Respondent Present.

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CORAM: S.J. KATHAWALLA, J.

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DATE: 15^th DECEMBER, 2014.

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P.C.:

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Heard the learned Advocates for the parties. The above Petition

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was admitted by an order dated 15-11-2014 and was directed to be advertised.

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The admission of the Petition has been advertised in two local newspapers on

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26-11-2014. The Petition is now taken up for hearing and final disposal.

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The Company undertakes to pay an amount of Rs.18,71,445/- to

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the Petitioner in full and final settlement of their claim as follows :

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Rs.2,00,000/-	on or before 31-12-2014
Rs.3,00,000/-	on or before 31-01-2015
Rs.3,50,000/-	on or before 28-02-2015
Rs.3,50,000/-	on or before 31-03-2015

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cp 174 of 2014 (925).sxw

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Rs.1,25,000/-	on or before 30-04-2015
Rs.1,25,000/-	on or before 31-05-2015
Rs.1,25,000/-	on or before 30-06-2015
Rs.1,25,000/-	on or before 31-07-2015
Rs.1,71,445/-	on or before 31-08-2015

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The undertaking is accepted.

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The Company undertakes to this Court that the Company is not a sick Company and that it is not likely to be declared a sick company / industry in the next twelve months and that it does not intend to file an application before the concerned authority for a declaration that the Company is a sick company or industry under the provisions of the Sick Industrial Companies (Special Provisions) Act, 1985. The undertaking is accepted.

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The Company further undertakes to this Court that the Company is not a 'relief undertaking' or an undertaking within the purview of the Bombay Relief Undertakings (Special Provisions) Act, 1958 and that it is not likely to be declared as such an undertaking in the next twelve months and that it does not intend to file any Application or make any request for such declaration. The undertaking is accepted.

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Since the admission of the Company Petition was advertised as recently as on 26^th November, 2014, and no claims were received in response

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cp 174 of 2014 (925).sxw

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thereto from the Workers / Creditors of the Company, no further advertisement is required to be published.

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In the event of the Company committing any default in payment of the aforestated installments, the above Petition shall without reference to this Court stand allowed in terms of prayer clauses (a) and (b), which are reproduced hereunder :

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(a) that Karpara Project Engineering Private Ltd., the Company, with CIN U45201MH2002PTC2159936 be ordered

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to be wound up under the orders and directions of this Hon'ble Court under the Companies Act, 1956;

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(b) this Hon'ble Court will be pleased to appoint the Official Liquidator, High Court, Bombay, or some other fit and proper person be appointed as the Liquidator of the said Company Karpara Project Engineering Private Ltd., with all powers under the Companies Act, 1956;

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The Company Petition is accordingly disposed of.

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( S.J.KATHAWALLA, J. )

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Ador Welding Ltd, v. Karpara Project Engineering Pvt.Ltd, Cin NO.U45201MH2002PTC215936

Case brief

What is this about?

What did the court decide?

Ador Welding Ltd, v. Karpara Project Engineering Pvt.Ltd, Cin NO.U45201MH2002PTC215936

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

Case details

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