Disposed

Namrata Mukesh Makhija v. M/S.Novelty Power and Infratech Ltd, Cin NO.U27100MH2005PLC150870

Bombay HC9 Feb 2015CP/182/2014

Case brief

AI extract

What is this about?

The High Court disposed of the Company petition upon the respondent's undertaking to pay the petitioner Rs. 6,60,000 in six installments, specifying revival procedures and liquidator appointment upon default.

What did the court decide?

Petition disposed; Respondent undertakes to pay Rs. 6,60,000 in six installments; Petition to be revived on default with liquidator appointment.

Namrata Mukesh Makhija Vs M/S.Novelty Power and… — Company and Corporate | Bombay HC (2015)

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cp 182 of 2014 (938).sxw

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

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COMPANY PETITION NO.182 OF 2014

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Namrata Mukesh Makhija … Petitioner versus M/s. Novelty Power and Infratech Ltd. … Respondent

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Ms. Nichani, for Petitioner.

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Mr. Rajiv Hinga, for Respondent.

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CORAM: S.J. KATHAWALLA, J.

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DATE: 9^th FEBRUARY, 2015

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P.C .

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Heard the learned Advocates for the parties and by consent, the

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following order is passed :

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(i) The Company agrees and undertakes to pay an amount of Rs.6,60,000/- to the Petitioner in full and final settlement of the claim of the Petitioner against the Company.

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(ii) The Company further undertakes to pay the said amount of Rs.6,60,000/- to the Petitioner in six equal monthly installments of Rs.1,10,000/- beginning from 15^th March, 2015 and the subsequent installments on or before 15^th of each succeeding month i.e. upto 15^th August, 2015. The undertakings are accepted.

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(iii) Upon the Company making the aforestated payments to the

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ssp

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cp 182 of 2014 (938).sxw

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Petitioner, the parties shall have no claim against each other.

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(iv) In the event of the Respondent Company committing default in payment of any of the aforestated installments as undertaken hereinabove, 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 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.

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(v) The Company Petition is accordingly disposed of.

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( S.J.KATHAWALLA, J. )

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ssp

Namrata Mukesh Makhija v. M/S.Novelty Power and Infratech Ltd, Cin NO.U27100MH2005PLC150870

Case brief

What is this about?

What did the court decide?

Namrata Mukesh Makhija v. M/S.Novelty Power and Infratech Ltd, Cin NO.U27100MH2005PLC150870

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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