This single-judge order settles the petitioner's dues against the respondent company by directing a specific payment within a stipulated timeframe, with a proviso for the revival of the petition in case of default.
Respondent to pay Rs. 6,30,900 as full and final settlement; in default, petition revived.
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IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION
COMPANY PETITION (L) NO.946 OF 2016
| Mr. Mayur Parekh | … | Petitioner |
|---|---|---|
| Versus | ||
| Krian Media Limited | … | Respondent |
WITH COMPANY APPLICATION (L) NO.759 OF 2016
Mr. Mayur Parekh … Applicant In the matter of : Mr. Mayur Parekh … Petitioner Versus Krian Media Limited … Respondent
Mr. Gauraj Shah a/w Ms. Raina Gajria i/b Vimadalal & Co., for the Petitioner/Applicant.
Mr. Ravi Suryawanshi a/w Ms. Mansi Nair i/b Naik Naik & Co., for the Respondent.
CORAM : S.C.GUPTE, J.
DATE : 15 DECEMBER 2016.
P.C. :
. After the matter was heard at some length, it is agreed between the parties that the petition may be disposed of in terms of the following order. Accordingly, it is ordered as follows :-
(I) The Respondent shall pay the sum of Rs.6,30,900/- (Rs. Six Lac Thirty Thousand Nine
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Hundred Only) to the Petitioner on or before 15 March 2017. This payment shall be accepted by the Petitioner in full and final settlement of his dues claimed against the Respondent. In the event there is default in payment of this amount by the date mentioned above, the petition shall stand forthwith revived and admitted. The petition shall be made returnable at the end of six weeks from 15 March 2017. The Petitioner shall be entitled to advertise the petition on that basis;
(II) In the event of admission of the petition, the Respondent shall waive notice under Rule 28 of Companies (Court) Rules, 1959;
(III) The petition is, accordingly, disposed of;
(IV) In view of disposal of the petition, the company application does not survive and the same is disposed of;
(V) No order as to costs.
(S.C.GUPTE, J.)
1 issue framed by the court
Whether the petitioner's dues will be settled by a specific lump-sum payment within a stipulated timeframe with a proviso for revival on default?
Mr. Mayur Parekh
Krian Media Limited
S.C. Guppte
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
