THE HON’BLE SRI JUSTICE C.V.NAGARJUNA REDDY Company Petition No.15 of 2013 Between: M/s.GATI Ltd., And M/s.Icomm Tele Ltd., Dated 25th August, 2014 …Petitioner …Respondents Counsel for the petitioner: Sri V.M.M.Chary Counsel for the respondent: Sri D.Seshasayana Reddy for M/s.SYSLEX Law Firm The Court made the following:
ORDER:
This company petition is filed for winding up of the respondent- company for non-payment of debt due to the petitioner.
At the hearing, Sri D.Seshasayana Reddy, learned counsel for the respondent, submitted that his client is offering the sum of Rs.4,25,000/- towards the balance admitted debt. He has handed over a pay order to the learned counsel for the petitioner for the said amount.
Sri V.M.M.Chary, learned counsel for the petitioner, submitted that there is an arbitration proceeding pending in which his client may be permitted to agitate its rights for the disputed amount.
Having regard to the above submissions of the learned counsel and the fact that the respondent has paid the amount, which according to it is the admitted amount, the company petition is closed with liberty to the petitioner in terms of the prayer made.
C.V.NAGARJUNA REDDY, J 25th August, 2014
VGB