Disposed

M/S Union Roadways Ltd. v. M/S Satec Envir Engg India Pvt. Ltd. Cin U29197MH1991PTC064661

Bombay HC9 Aug 2016CP/212/2015

Case brief

AI extract

What is this about?

The High Court disposed of a Company Petition by consent order. The respondent admitted liability to pay a specified amount in installments via post-dated cheques. The petition is dismissed upon performance but revives upon default.

What did the court decide?

Petition disposed by consent: Respondent to pay Rs. 10,50,000/- in installments via post-dated cheques; petition dismissed on payment, revivable on default.

M/S Union Roadways Ltd. Vs M/S Satec Envir Engg India… — Company and Corporate | Bombay HC (2016)

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1.cp.212.2015.doc

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dik

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

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COMPANY PETITION NO. 212 OF 2015

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M/s Union Roadways Ltd. ...Petitioner vs M/s Satec Envir Engg. India Pvt. Ltd. ...Respondent

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Mr Sunil Upadhyay i/b A.M.Saraogi for the Petitioner Mr Vikas J Gupta for the Respondent

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CORAM : B. P. COLABAWALLA J.

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AUGUST 09, 2016

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P.C. :

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When this matter was called out, the learned counsel

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appearing on behalf of the Petitioner as well as the Respondent Company agreed that the following order be passed by consent.

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(i) The Respondent Company admits that it is liable to pay an amount of Rs.10,50,000/- (Rs. Ten Lacs Fifty Thousand only) to the Petitioner;

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(ii) The Respondent Company has agreed to pay the said amount in ten installments, the first installment being for Rs.1,50,000/- and the balance nine installments of

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Rs.1,00,000/- each commencing from September, 2016. Towards repayment of these installments, the Respondent Company has handed over post-dated cheques to the Respondent Company. Towards the first installment of Rs.1,50,000/-, a cheque dated 31 August, 2016 has been handed over. As far as the balance nine installments are concerned, post-dated cheques dated 25 September, 2016 to 25 May, 2017 have been handed over to the Petitioner's advocate. The Petitioner's advocate acknowledge receipt of all the aforesaid cheques;

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(iii) If all the above installments are paid by honour of the cheques that have been handed over today, then this Company Petition shall stand dismissed and the Petitioner shall have no claim against the Respondent Company;

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(iv) In the event of single default is committed, then in that event, this Company Petition shall stand revived, admitted and made returnable within six weeks from the date of the default. In such an event, liberty is granted to the Petitioner to apply to this Court for further directions regarding advertisement of the Company Petition etc.;

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2 The Company Petition is disposed of in the aforesaid

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terms with liberty to apply as mentioned earlier. No order as to

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costs.

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( B. P. COLABAWALLA J. )

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M/S Union Roadways Ltd. v. M/S Satec Envir Engg India Pvt. Ltd. Cin U29197MH1991PTC064661

Case brief

What is this about?

What did the court decide?

M/S Union Roadways Ltd. v. M/S Satec Envir Engg India Pvt. Ltd. Cin U29197MH1991PTC064661

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Parties & counsel

Coram

Case details

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