HON'BLE SRI JUSTICE C.V.NAGARJUNA REDDY COMPANY PETITION No.65 of 2014 Date:28.07.2014 Between:
M/s Arcelor Mittal Distribution Solutions India Private Limited, Mumbai, reptd by its Power of Attorney Holder-Sri R.Suresh Reddy And:
M/s NAWA Engineers and Consultants Private Limited, Hyderabad, reptd by its Managing Director.
……Petitioner … Respondent Counsel for the petitioner: Sri V.Ashok Ram For Sri S.Sri Ram Counsel for the respondent: Sri Srinivasa Rao Velivela The Court made the following:
HON'BLE SRI JUSTICE C.V.NAGARJUNA REDDY COMPANY PETITION No.65 of 2014 ORDER:
This Company Petition is filed for ordering winding up of the respondent for non-payment of the admitted debt due to the petitioner.
At the hearing, both the learned counsel submitted that an understanding has been reached between the parties, as per which, the respondent has agreed to pay the debt in instalments and that in pursuance of the understanding, a sum of Rs.5 lakhs has been paid through a Demand Draft and post dated cheques for the balance amount due were issued by the respondent.
In view of the above settlement between the parties, the Company Petition is closed, however, with liberty to the petitioner to seek reopening of the case, in the event, the respondent commits default in payment of any of the instalments.
28th July, 2014 DR
JUSTICE C.V.NAGARJUNA
REDDY