Disposed

M/S. Srj Peety Steels Pvt. Ltd. v. M/S. Wind World (India) Ltd. (Formerly Known as Enercon (India) Ltd.) (Cin U31200DD2003PLC003236)

Bombay HC23 Sept 2014CP/234/2014

Case brief

AI extract

What is this about?

The High Court accepted undertakings from the respondent to pay and deposit sums as directed. The court established conditions for the petition's revival in case of default and directed that disputes would be referred to arbitration upon compliance, disposing of the company petition.

What did the court decide?

Undertakings accepted; petition disposed with conditions for revival on default and submission to arbitration on compliance.

M/S. Srj Peety Steels Pvt. Ltd. Vs M/S. Wind World (India) Ltd… — Arbitration | Bombay HC (2014)

934-CP-234-2014

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY PETITION NO. 234 OF 2014

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Srj Peety Steels Private Limited … Petitioner

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Versus

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Wind World India Limited (Enercon India Ltd.)

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… Respondent

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Mr. P. Samdani, Sr. Adv. a/w. Mr. Zal Andhyarujina i/b. Mr. Girish B. Kedia for the Petitioner

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Mr. Fredum De Vitre, Sr.Adv. a/w. Mr. Nikhil Sakhardande, Ms. Shubhra Swami i/b. S. Naik and AZB & Partners for the Respondent.

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CORAM : S. J. KATHAWALLA, J. DATED : 23RD SEPTEMBER, 2014

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P.C.:

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Heard the learned Advocates appearing for the parties and the following order is passed :

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i. The Respondent Company undertakes to pay to the Petitioner a sum of Rs.7 Crores inclusive interest on or before 21^st October, 2014.

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ii. The Respondent Company further undertakes to deposit with the Prothonotary and Senior Master of this Court a sum of Rs.6.36 Croes within a period of 8 weeks from the date of this order i.e. on or before 18^th November, 2014.

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iii. The undertakings recorded hereinabove are accepted.

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iv. In the event Respondent Company commits any default in respect

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934-CP-234-2014

of payment in terms of clause (i) and/or deposit in terms of clause (ii) above, the Petition shall revive without reference to the Court, stand admitted, made returnable within six weeks of default and advertised in two local news papers i.e. Free Press Journal (in English) and Navshakti (in Marathi) and in Maharashtra Government Gazette. In that event the Respondent Company waives the Notice under Rule 28 of the Company (Court) Rules, 1959. The Petitioner undertakes to deposit a sum of Rs.10,000/with the Prothonotary and Senior Master of this Court within a period of two weeks as admission.

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v. In the event of compliance of Clauses (i)and (ii) above by the Respondent Company, all the disputes and differences shall stand referred to arbitration of Mr. Sandeep Parekh, Senior Advocate, in which event the deposit in terms of clause (ii) above, shall abide by the result of the Arbitral Award. The deposit of clause (ii) above shall also be subject to the direction or award that may be passed by learned Arbitrator.

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vi. In view of the above order, the above Company Petition stands disposed of.

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( S. J. Kathawalla, J. )

M/S. Srj Peety Steels Pvt. Ltd. v. M/S. Wind World (India) Ltd. (Formerly Known as Enercon (India) Ltd.) (Cin U31200DD2003PLC003236)

Case brief

What is this about?

What did the court decide?

M/S. Srj Peety Steels Pvt. Ltd. v. M/S. Wind World (India) Ltd. (Formerly Known as Enercon (India) Ltd.) (Cin U31200DD2003PLC003236)

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

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