The High Court accepted the respondent company's undertaking to pay a specified sum to the petitioner within a timeframe and ordered disposal of the petition with revival conditions upon default.
Undertaking to pay Rs.78,82,803/- accepted; petition disposed with revival conditions upon default.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
cp 613 of 2014 (617).sxw
IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION
COMPANY PETITION NO.613 OF 2014
M/s. Fortune Metals Ltd. … Petitioner V/s. M/s. Hindustan Construction Company Ltd. … Respondent
Mr. Amonkar i/by Mr. Humranwala, for Petitioner. Ms. N.P.Dalvi, for Respondent.
CORAM: S.J. KATHAWALLA, J.
DATE: 15th DECEMBER, 2014.
P.C.:
(i) The Company undertakes to pay to the Petitioner an amount of
Rs.78,82,803/- on or before 29-12-2014. The undertaking is accepted.
(ii) In the event of the Company committing default in making the aforesaid payment as undertaken in clause (i) above, the above 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
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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 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.
( S.J.KATHAWALLA, J. )
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1 issue framed by the court
Whether to accept the respondent's undertaking to pay the petitioner and dispose of the petition with default provisions.
1 provisions across 1 enactments
M/s. Fortune Metals Ltd.
M/s. Hindustan Construction Company Ltd.
S.J. KATHAWALLA
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
