Wb Precision Engineering Solution (P) Ltd. Vs. M/S. C. D. Automation Pvt. Ltd.

Wb Precision Engineering Solution (P) Ltd. vs M/S. C. D. Automation Pvt. Ltd.

Type Court Judgment Court Kolkata Decided Oct 05, 2010

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https://sooperkanoon.com/case/906096

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Citation: sooperkanoon.com/906096
Court: Kolkata High Court
Judge: I . P. Mukerji, J.
Decided On: Oct 05, 2010
Case Number: CP No. 296 of 2010
Subject: Company

Case Summary

AI-generated summary - not the official court judgment text.

Company

Key legal issue: Company

Parties & Advocates

Appellant / Petitioner

Wb Precision Engineering Solution (P) Ltd.

Advocate Mr.Aniruddha Roy ; Ms.S.Roy Chowdhury, Advs.

Respondent

M/S. C. D. Automation Pvt. Ltd.

Advocate Mr.Rudrajit Sarkar,Adv.

Excerpt

.....ltd. admits its liabilities to the extent of the principal amount claimed in this winding up petition for a sum of rs.3,39,017/-. the company has agreed to pay the said sum to the petitioning creditor in the following manner: a) the company shall pay to the petitioning creditor a sum of rs.1,50,000/- (rupees one lakh fifty thousand) only within three weeks from the date of this order by bank draft or pay order. b) the balance amount to rs.1,89,017/- shall be paid by the company to the petitioning creditor by monthly installments of rs.20,000/-(rupees twenty thousand) each only for a period of 9 months. the first of such installment will be paid by the company to the petitioning creditor on or before 20th october 2010 by bank draft or pay order and all the succeeding installment of rs.20,000/- per month will be paid on or before 10th day of every succeeding month by bank draft or pay order. c) the last and 10th installment of rs.9,017/- will be paid by the company to the petitioning creditor by bank draft or pay order on or before 10th day of last month. d) in default of making payment of the said sum of rs.1,50,000/- or any two installments or the said last installment of rs.9,017/- the winding up petition shall stand admitted and the petitioning creditor will be at liberty to make the necessary publication once in aajkal and once in the telegraph mentioning that the winding up petition will be made returnable before the company court on the following day after 4 weeks from the date of such publication. publication in the official gazette would stand to be dispensed with. in the event, the entire dues of the petitioning creditor is paid by the company in the manner as stated, this winding up petition will be mentioned for dismissal. all parties concerned are to act on a signed photocopy of this order upon the usual undertakings.

Full Judgment

The Court :By consent of the parties this winding up application is disposed of by the following order. The company viz.WB Precision Engineering Solutions (P) Ltd. admits its liabilities to the extent of the principal amount claimed in this winding up petition for a sum of Rs.3,39,017/-.

The company has agreed to pay the said sum to the petitioning creditor in the following manner:

a) The company shall pay to the petitioning creditor a sum of Rs.1,50,000/- (Rupees one lakh fifty thousand) only within three weeks from the date of this order by Bank Draft or Pay Order.

b) The balance amount to Rs.1,89,017/- shall be paid by the company to the petitioning creditor by monthly installments of Rs.20,000/-(Rupees twenty thousand) each only for a period of 9 months. The first of such installment will be paid by the company to the petitioning creditor on or before 20th October 2010 by Bank Draft or Pay Order and all the succeeding installment of Rs.20,000/- per month will be paid on or before 10th day of every succeeding month by Bank Draft or Pay Order.

c) The last and 10th installment of Rs.9,017/- will be paid by the company to the petitioning creditor by Bank Draft or Pay Order on or before 10th day of last month.

d) In default of making payment of the said sum of Rs.1,50,000/- or any two installments or the said last installment of Rs.9,017/- the winding up petition shall stand admitted and the petitioning creditor will be at liberty to make the necessary publication once in Aajkal and once in The Telegraph mentioning that the winding up petition will be made returnable before the Company Court on the following day after 4 weeks from the date of such publication. Publication in the Official Gazette would stand to be dispensed with.

In the event, the entire dues of the petitioning creditor is paid by the company in the manner as stated, this winding up petition will be mentioned for dismissal.

All parties concerned are to act on a signed photocopy of this order upon the usual undertakings.

Same Court & Year Kolkata · 2010 Same Parties Wb Precision Engineering Solution (P) Ltd. vs M/S. C. D. Auto... Same Subject Company Same Judge I . P. Mukerji, J.