Lakshmi Float Glass Ltd. v. Alkarma Partnership Firm & Ors.
Case brief
What is this about?
The petitioners alleged wilful disobedience and non-compliance with an undertaking and settlement payment schedule. The respondents stated that the due instalment had been released and undertook to follow the revised schedule for future payments. The Court took the respondents’ undertaking into account, held them bound by it, and allowed the petitions to be revived if the timelines were breached.
What did the court decide?
The respondents’ undertaking to follow the revised payment schedule was recorded and they were held bound by it. The petitioners were permitted to revive the petitions if the respondents breached the payment timelines.