THE HON’BLE SRI JUSTICE C.V. NAGARJUNA REDDY COMPANY PETITION No.70 of 2013 Dated: 11.06.2014 Between:
Kotak Mahindra Bank Limited Rep. by its Authorized Signatory Mr. N. Murali Krishna .. Petitioner and Nusun Genetic Research Limited .. Respondent Counsel for the Petitioner: Mr. G. Arun For Mr. K. R. Raman Counsel for the Respondent: Ms. Divya Datla For Mr. Ch. Pushyam Kiran The Court made the following:
ORDER:
This company petition is filed for ordering winding up of the respondent for non-payment of debt allegedly due to the petitioner.
At the hearing, the learned counsel representing the parties stated that an out of court settlement was reached between the parties before the Debts Recovery Tribunal concerned, as per which payment schedule was agreed upon by the parties.
In view of the above submission, the company petition is closed, however, with liberty to the petitioner to file a fresh company petition in the event the respondent does not pay the debt as per the compromise.
C.V.NAGARJUNA REDDY, J 11th June, 2014 IBL