Dismissed
Tecnimont Icb Private Limited v. Lanco Infratech Limited
Telangana HCCP/6/2015
Case brief
AI extract
What is this about?
The High Court closed the company winding-up petition filed for non-payment of debt as the respondent acknowledged liability and had paid most of the claim, with negotiations ongoing for the balance, making the civil recovery route the appropriate remedy.
What did the court decide?
Company Petition closed with liberty to the petitioner to approach the civil court for recovery of the balance amount.