Disposed

Industrial X-Ray and Allied Radiographers (I) Pvt. Ltd. Cin U7422MH1986PTC040343 v. Hindustan Dorr Oliver Limited, Cin L74210MH1974PLC017644

Bombay HC1 Sept 2014CP/637/2014

Case brief

AI extract

What is this about?

The company court recorded a consensual settlement wherein the respondent agreed to pay a specified sum in installments and undertook strict conditions regarding default, including revival of the petition, appointment of a provisional liquidator, and waiver of notice under Rule 28 of the Companies (Court) Rules. The petition was accordingly disposed of.

What did the court decide?

Consent settlement recorded undertaking payment of Rs. 15,69,000 in installments with strict default clauses including revival, advertising, and appointment of liquidator.

Industrial X-Ray and Allied Radiographers (I) Pvt… — Execution and Attachment | Bombay HC (2014)

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cpl 573 of 2014 (904).sxw

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

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COMPANY PETITION (L) NO.573 OF 2014

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Industrial X-Ray and Allied Radiographers (I) Pvt. Ltd. … Petitioner versus

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Hindustan Dorr Oliver Limited … Respondent

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Mr. Prateek Sanghvi i/by Ms. Sonali Kochar, 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: 1^st SEPTEMBER, 2014

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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 agrees and undertakes to pay an

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amount of Rs.15,69,000/- to the Petitioner in full and final settlement of

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the claim of the Petitioner against the Respondent Company. The said

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amount of Rs.15,69,000/- shall be paid as under :

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Rs.5,00,000/on or before 30-09-2014 Rs.5,00,000/on or before 30-10-2014 Rs.5,69,000/on or before 30-11-2014

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(ii) The Company further undertakes not to seek any extension

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of time in making the above payments or any part thereof to the

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Petitioners. The undertaking are accepted.

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(iii)The Company has agreed that in the event of the Respondent Company committing default in payment of any of the agreed installments, the Company Petition shall without reference to this Court revive, 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 such 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/assets 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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(iv) The Company Petition is accordingly disposed of.

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(v) Office to number the Petition within a period of one week

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from today.

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( S.J.KATHAWALLA, J. )

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Industrial X-Ray and Allied Radiographers (I) Pvt. Ltd. Cin U7422MH1986PTC040343 v. Hindustan Dorr Oliver Limited, Cin L74210MH1974PLC017644

Case brief

What is this about?

What did the court decide?

Industrial X-Ray and Allied Radiographers (I) Pvt. Ltd. Cin U7422MH1986PTC040343 v. Hindustan Dorr Oliver Limited, Cin L74210MH1974PLC017644

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

Case details

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