Disposed

M/S.New Engineering Works through Its Prop.Mr.U.K.Guha v. Hindustan Dorr Oliver Ltd, Cin NO.L74210MH1974PLC017644

Bombay HC20 Aug 2014CP/250/2014

Case brief

AI extract

What is this about?

Company petition admitted in terms of parties' consent terms allowing default admission and appointment of provisional liquidator under specific conditions regarding payment defaults. Petition disposed of on consent.

What did the court decide?

Company Petition disposed of in terms of Consent Terms admitting petition on default and appointing Official Liquidator as provisional liquidator.

M/S.New Engineering Works through Its Prop.Mr.U.K.Guha… — Company and Corporate | Bombay HC (2014)

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cp 250 of 2014 (922).sxw

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

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COMPANY PETITION NO.250 OF 2014

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M/s. New Engineering Works … Petitioner versus Hindustan Dorr Oliver Ltd. … Respondent

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Ms. Sonali Kochar i/by Mr. Rubin Fernandes, for Petitioner. Mr. B. Castellino i/by M/s. Pandya and Co., for Respondent.

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CORAM: S.J. KATHAWALLA, J.

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DATE: 20^th AUGUST, 2014

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P.C.:

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The learned Advocates appearing for the parties have tendered Consent Terms dated 18-08-2014. They submit that the Consent Terms be taken on record and the Company Petition be disposed of in terms of the Consent Terms. The Consent Terms are taken on

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record and marked 'X' for identification. The Consent Terms are signed

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by the Proprietor of the Petitioner and the Constituted Attorney of the Respondent. The Consent Terms are also signed by the Advocates for the parties.

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It is further agreed by the parties that in the event of the Respondent Company committing a single default in payment of the

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cp 250 of 2014 (922).sxw

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amount as stipulated in the Consent Terms dated 18-08-2014, the

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Company Petition shall without reference to this Court stand admitted, made returnable within six weeks from the date of default and advertised in two local newspapers i.e. Free Press Journal (in English) and Navshakti (in Marathi) and in the Maharashtra Government Gazette. The Petitioner shall deposit an amount of Rs.10,000/with the Prothonotary and Senior Master of this Court towards publication charges, within two weeks from the date of default, with intimation to the Company Registrar failing which the Petition shall stand dismissed for non-prosecution. In the event of default the Official Liquidator shall forthwith stand appointed as provisional liquidator and shall immediately take charge of the records as well as the movable and immovable properties of the Company. Notice under Rule 28 of the Companies (Court) Rules, 1959 shall also stand waived on behalf of the Company.

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The Company Petition is accordingly disposed of in terms of the Consent Terms marked 'X' and the Agreement recorded in paragraph 2 above.

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( S.J.KATHAWALLA, J. )

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M/S.New Engineering Works through Its Prop.Mr.U.K.Guha v. Hindustan Dorr Oliver Ltd, Cin NO.L74210MH1974PLC017644

Case brief

What is this about?

What did the court decide?

M/S.New Engineering Works through Its Prop.Mr.U.K.Guha v. Hindustan Dorr Oliver Ltd, Cin NO.L74210MH1974PLC017644

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

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