Disposed

M/S.Bharat Aluminium v. M/S.Southern Aluminium and Glazing India Pvt.Ltd., Cin NO.U27203MH2000PTC129507

Bombay HC1 Jul 2014CP/278/2013

Case brief

AI extract

What is this about?

The court disposed of a company petition by ordering the respondent company to pay the petitioner Rs.3,20,000 in installments. Default would revive the petition, advertise the notice, appoint an official liquidator, and waive specific procedural rules.

What did the court decide?

The respondent undertook to pay Rs.3,20,000 in installments; default leads to revival of petition, appointment of liquidator, and newspaper advertisement. The petition is disposed of.

M/S.Bharat Aluminium Vs M/S.Southern Aluminium and… — Company and Corporate | Bombay HC (2014)

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cp 278 of 2013 (901) .sxw

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

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COMPANY PETITION NO.278 OF 2013

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M/s. Bharat Aluminium …..Petitioner

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versus

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Southern Aluminium & Glazing India Pvt. Ltd. …..Respondent

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Mr. Rakesh Piprodia i/by M/s. RMP Legal, for Petitioner. Mr. Shamim i/by M/s. Shamim and Co., for Respondent. Mr. Bhavesh Jayant Damniwala, Director of Respondent, present. Mr. Vikram Nathmal Jain, Prop. Of Petitioner, present.

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CORAM : S.J.KATHAWALLA, J.

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DATE : 1^st JULY, 2014 (IN CHAMBERS)

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P.C.:-

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Heard the learned Advocates for the parties and by consent, the following order is passed :

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(i) The Respondent Company undertakes to pay to the

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Petitioner a sum of Rs.3,20,000/- in full and final settlement of the entire

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claim of the Petitioner, as follows :

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(a) Rs.50,000/- on or before 15-07-2014;

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(b) Rs.20,000/- per month for the next succeeding 12 months;

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cp 278 of 2013 (901) .sxw

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(d) All the installments shall be paid on or before the

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15^th day of each month.

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(ii) In the event of the Respondent Company committing

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default in payment of either of the aforestated installments, the Company Petition shall without reference to this Court be revived, 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 any default the Official Liquidator shall forthwith stand appointed 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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(iii) Upon the payment of the entire amount as agreed

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cp 278 of 2013 (901) .sxw

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hereinabove, the parties shall have no claim of whatsoever nature

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against each other.

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(iv) The Company Petition is accordingly disposed of.

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(S.J.KATHAWALLA, J.)

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ssp

M/S.Bharat Aluminium v. M/S.Southern Aluminium and Glazing India Pvt.Ltd., Cin NO.U27203MH2000PTC129507

Case brief

What is this about?

What did the court decide?

M/S.Bharat Aluminium v. M/S.Southern Aluminium and Glazing India Pvt.Ltd., Cin NO.U27203MH2000PTC129507

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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