Petitioner sought winding up of respondent for non-payment of debt. Petitioner withdrew the petition citing an out-of-court settlement. Court dismissed the petition as settled.
Company Petition dismissed as settled out of the Court.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
The Hon’ble Sri Justice C.V.Nagarjuna Reddy
Company Petition No.94 of 2013 Dated 07.09.2015
Between:
Development Credit Bank Ltd., Mumbai, having its office at Secunderabad
… Petitioner and
Progressive Constructions Ltd., Hyderabad, rep. by its Managing Director
…Respondent
Counsel for the petitioner: Mr.Chetluru Srinivas Counsel for the respondent: None appeared
The Court made the following:
O r d e r :
This Company Petition is filed for an order to wind up the respondent- Company for non-payment of the debt due to the petitioner.
Mr.Chetluru Srinivas, learned Counsel for the petitioner, has addressed letter, dated 02-09-2015, to the Registrar (Judicial) of this Court informing that a settlement was reached between the petitioner and
the respondent and that therefore, the petitioner intends to withdraw the Company Petition.
Today, at the hearing, the learned Counsel for the petitioner has reiterated the contents of the said letter.
In view of the above, the Company Petition is dismissed as settled out of the Court.
______________________ (C.V.Nagarjuna Reddy, J) Dt: 7th September, 2015 LUR
Development Credit Bank Ltd.
Progressive Constructions Ltd.
C.V.Nagarjuna Reddy
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
