Disposed

Vijayjyot Seats Pvt.Ltd. v. Antony Garages Pvt.Ltd., Cin NO.U50100MH1983PTC030988

Bombay HC25 Sept 2014CP/584/2013

Case brief

AI extract

What is this about?

In a company petition, the Bombay High Court, by consent, accepted the respondent's undertaking to pay Rs. 30 lacs via monthly installments and submit cheques, compromising the winding-up application with a revival clause for default.

What did the court decide?

Respondent undertook to pay Rs. 30 lacs in six monthly instalments; cheques to be handed over. Petition disposed on these terms with revival clause for default.

Vijayjyot Seats Pvt.Ltd. Vs Antony Garages Pvt.Ltd… — Company and Corporate | Bombay HC (2014)

Nitin

924-CP-584-2013

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

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COMPANY PETITION NO. 584 OF 2013

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Vijayjyot Seats Private Limited … Petitioner Versus Antony Garages Private Limited … Respondent

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Mr. Kunal J. i/b. M/s. Thakore Jariwala & Associates for the Petitioner. Ms. A.R.S. Baxi for the Respondent.

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CORAM : S.J. KATHAWALLA, J. DATE : 25TH 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 by consent :

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i. The Respondent undertakes to pay an amount of Rs.30 Lacs to the Petitioner in full and final settlement of the claim of the Petitioner in six monthly instalments of Rs. 5 Lacs each starting from 1^st October, 2014 and thereafter payable on or before 5^th day of each succeeding month. The last instalment shall be payable on or before 5^th March, 2015.

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ii. The Respondent also undertakes to hand over post-dated cheques and 'C' Form to the Advocate for the Petitioner within a period of two weeks from the date of this order.

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iii. The undertakings recorded hereinabove are accepted.

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2 924-CP-584-2013

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Nitin

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iv. The Respondent further undertakes that in the event of default in making the above payment by the Respondent, the above Company Petition shall revive without reference to this Court and stand allowed in terms of prayer clauses (a) and (b), which are reproduced hereunder :

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“(a) That the Respondent Company, i.e. Antony Garages Private Limited be ordered to be would up by an order of this Hon'ble Court.

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(b) That the Official Liquidator, High Court, Bombay be appointed as Liquidator of the Respondent Company with all powers under the Companies Act, 1956 including the power to take possession of all the assets, books of account, stock in trade, cash on hand, moveable properties including future and fixtures as well as immovable properties”.

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v. The above Company Petition is accordingly disposed of.

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( S.J.KATHAWALLA, J. )

Vijayjyot Seats Pvt.Ltd. v. Antony Garages Pvt.Ltd., Cin NO.U50100MH1983PTC030988

Case brief

What is this about?

What did the court decide?

Vijayjyot Seats Pvt.Ltd. v. Antony Garages Pvt.Ltd., Cin NO.U50100MH1983PTC030988

Case brief

What is this about?

What did the court decide?

What the court decided

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