Disposed

M/S.Labdhi Enterprise v. M/S.Bran Engineering Pvt.Ltd., Cin NO.U29299PN2007PTC129755

Bombay HC1 Jul 2014CP/370/2013

Case brief

AI extract

What is this about?

In a company petition, the respondent company undertook to pay a sum of Rs. 6.30 lakh to settle the petitioner's claim. The court disposed of the petition by consent, admitting a default mechanism leading to its admission and appointment of a provisional liquidator if payment was not made within three weeks.

What did the court decide?

Respondent undertook to pay Rs. 6,30,000 in full settlement; default triggers admission of petition and appointment of liquidator.

M/S.Labdhi Enterprise Vs M/S.Bran Engineering Pvt.Ltd… — Company and Corporate | Bombay HC (2014)

Nitin

910-CP-370-2013

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

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COMPANY PETITION NO. 370 OF 2013

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M/s. Labdhi Enterprise … Petitioner

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Versus

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M/s. Bran Engineering Private Limited … Respondent

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Mr.N.M. Shah for Petitioner

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Mr. S.M. Shettiyar for Respondent

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CORAM: S.J. KATHAWALLA, J. DATE: 1ST JULY, 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 by consent :

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i. The Respondent Company undertakes through their Counsel to pay to the Petitioner an amount of Rs. 6,30,000/- in full and final settlement of the claim of the Petitioner within a period of three weeks from today. The undertaking is admitted.

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ii. Upon payment of the said amount of Rs. 6,30,000/- by the Respondent Company to the Petitioner, the Parties shall have no claim of whatsoever nature against each other.

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iii. In the event of the Respondent Company failing to pay the amount of Rs. 6,30,000/- as undertaken, the Company Petition shall stand admitted without reference to this Court, shall be made returnable

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Nitin 2 910-CP-370-2013

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within six weeks from the date of default, advertised in two local newspapers i.e. Free Press Journal (in English) and Navshakti (in Marathi) and in the Maharashtra Government Gazettle and the Official Liquidator shall forthwith stand appointed as Provisional Liquidator of the Company. 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.

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iv. In the event of default and consequent Admission of the Company Petition, Notice under Rule 28 of the Companies (Court) Rules, 1959 shall also stand waived on behalf of the Company.

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v. The Company Petition is accordingly disposed of.

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( S.J.KATHAWALLA, J. )

M/S.Labdhi Enterprise v. M/S.Bran Engineering Pvt.Ltd., Cin NO.U29299PN2007PTC129755

Case brief

What is this about?

What did the court decide?

M/S.Labdhi Enterprise v. M/S.Bran Engineering Pvt.Ltd., Cin NO.U29299PN2007PTC129755

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Statutes considered

Parties & counsel

Coram

Case details

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