THE HON’BLE SRI JUSTICE C.V.NAGARJUNA REDDY Company Petition No.205 of 2013 Between:
Dated 11th June, 2014 Parakh Agro Industries Limited And M/s.Priyanka Refineries Private Limited …Petitioner …Respondent Counsel for the petitioner: Sri B.Nalin Kumar Counsel for the respondent: Sri G.Kalyan Chakravarthi The Court made the following:
ORDER:
This company petition is filed for ordering winding up of the respondent-company for non-payment of debt due to the petitioner.
This Court by order, dated 22.04.2014, admitted the company petition, but deferred publication of the advertisement to enable the respondent to settle the dispute with the petitioner. At the hearing, Sri G.Kalyan Chakravarthi, learned counsel for the respondents, stated that after the admission of the company petition, his client has negotiated with the petitioner and arrived at a mutual settlement by which the petitioner agreed to receive a sum of Rs.7,00,000/-. He has placed before the Court a demand draft bearing No.032342, dated 06.06.2014, drawn on the State Bank of Hyderabad, Mahbubgunj Branch, for a sum of Rs.7,00,000/- in favour of the petitioner.
Sri B.Nalin Kumar, learned counsel for the petitioner, while stating that the respondent has agreed to handover the Demand Draft to his client, however, agreed to receive the same as full and final settlement of the dispute between the parties as agreed by them.
Accordingly, the Demand Draft is handed over to Sri B.Nalin Kumar, learned counsel for the petitioner.
In the light of the above facts, the order, dated 22.04.2014, is re- called and the company petition is closed as settled out of Court.
As a sequel to disposal of the company petition, all the pending interlocutory applications shall stand disposed of as infructuous.
C.V.NAGARJUNA REDDY, J 11th June, 2014
VGB