HON'BLE SRI JUSTICE C.V.NAGARJUNA REDDY
Company Petition No.45 of 2014
Date:15.09.2014 Between:
M/s Indkey Infra Projects Private Ltd, Hyderabad, reptd by its Director And:
M/s Apithecary Pharma Private Ltd, Hyderabad, reptd by its Managing Director.
……Petitioner ….Respondent Counsel for the petitioner: Ms Rashmi For Sri N.Harinath Counsel for respondent: Sri D.Narendar Naik The Court made the following:
ORDER:
This Company Petition is filed for an order to wind up the respondent for non-payment of the alleged debt due to the petitioner.
During the hearing of the case, this Court has suggested to the respondent to deposit a sum of Rs.15 lakhs claimed by the petitioner, towards principal, with the Registrar (Judicial) of this Court and the petitioner may approach the civil Court for recovery of the money and that the deposit made by the respondent shall be subject to the outcome of the civil proceedings.
At the hearing, Sri D.Narendar Naik, learned counsel for the respondent, has submitted that his client has deposited a sum of Rs.15 lakhs and entrusted the Fixed Deposit Receipt bearing No.634534, dated 11.09.2014, to the custody of the Registrar (Judicial). The office report confirms this submission.
In view of the same, the petitioner is permitted to approach the competent civil Court by way of filing a suit for recovery of the money within one month from the date of receipt of a copy of this order. The petitioner shall file proof of filing such suit before the Registrar (Judicial) within two weeks from the date of filing of the suit. If such proof is filed, the Registrar (Judicial) shall retain the Fixed Deposit Receipt with him till either party approaches him claiming the amount subject to the result of the suit. If proof is not filed within the above stipulated time, the Registry shall return the Fixed Deposit Receipt to the respondent.
Subject to the above directions, the Company Petition is disposed of.
As a sequel to disposal of the Company Petition, Company Application No.346 of 2014 is disposed of as infructuous.
15th September, 2014 DR
JUSTICE C.V.NAGARJUNA
REDDY