The court recalled an order appointing a Provisional Liquidator after parties settled their dispute outside court, with the petitioner receiving payment and post-dated cheques.
Recall of the order dated 02.02.2016 appointing the Provisional Liquidator on reception of the sum of Rs.25,000/- being expenses incurred by OL.
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$~CP-29
GLOBAL TAX FREE TRADERS INC. ..... Petitioner Through
versus
SUN F&B HOSPITALITY PVT. LTD ..... Respondent Through Mr.Aditya Swrup Agarwal, Adv. for the respondent. Ms.Megha Bharara, Adv. for Ms.Ruchi Sindhwani, Adv. for OL.
CORAM: HON'BLE MR. JUSTICE JAYANT NATH
O R D E R
%
06.04.2018
This court had admitted the present petition and appointed the Provisional Liquidator on 02.02.2016.
In the meantime, the parties have settled their disputes before Delhi High Court Mediation and Conciliation Centre on 20.03.2018. As per the settlement agreement, the former directors agree to pay a sum of Rs.5 lakhs to the petitioner. Post dated cheques have been handed over to the petitioner.
It is now prayed that this court may recall the order dated 02.02.2016.
I may note that when the matter was listed on 21.03.2018, learned counsel had appeared for the petitioner and had not objected to the settlement agreement.
Learned counsel for the OL submits that a sum of Rs.25,000/- are the expenses incurred by the OL.
On the respondent depositing with the OL, the sum of Rs.25,000/- for the expenses, the order dated 02.02.2016 appointing the Provisional Liquidator shall stand recalled.
Binding the parties to the settlement agreement, the present petition also stands disposed of.
All pending applications also stand disposed of.
JAYANT NATH, J
APRIL 06, 2018 rb
1 issue framed by the court
Whether to recall the order appointing the Provisional Liquidator and dispose of the present petition.
GLOBAL TAX FREE TRADERS INC.
SUN F&B HOSPITALITY PVT. LTD.
JAYANT NATH
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
