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COMP/277/2003 3/ 3 ORDER
IN
THE HIGH COURT OF GUJARAT AT AHMEDABAD
COMPANY
PETITION No. 277 of 2003
=========================================================
TRANSPORT
CORPORATION OF INDIA - Petitioner(s)
Versus
RAVIRAJ
FOILS LTD. - Respondent(s)
=========================================================
Appearance
:
MR
CL SONI for
Petitioner(s) : 1,MR RITURAJ M MEENA for Petitioner(s) : 1,MR KRUNAL
R SAKSENA for Petitioner(s) : 1,
MS VAIBHAVI K PARIKH for
Respondent(s) :
1,
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CORAM
:
HONOURABLE
MR.JUSTICE K.M.THAKER
Date
: 14/10/2011
ORAL
ORDER
1. The
petitioner, Transport Corporation of India, has taken out present
proceedings below mentioned reliefs and directions:
“14(A) be
pleased to admit and allow this petition;
(B) be pleased
to pass an order for winding up of the Company named M/s. RAVIRAJ
FOILS LTD. having its registered Office at Survey No.169, P. O.
Chharodi Farm, Tal. Sanand, Dist. Ahmedabad, and issue necessary
orders in this regard under the provisions of the Companies Act,
1956;
(C) be pleased
to appoint Official Liquidator as Liquidator of the Company i.e.
M/s.RAVIRAJ FOILS LTD. with all powers under the provisions of the
Companies Act, 1956;
(D) That
pending hearing and final disposal of this petition, this Hon’ble
Court be pleased to appoint Official Liquidator as Provisional
Liquidator of the company named M/s.RAVIRAJ FOILS LTD. having its
registered office at Survey No.169, P. O. Chharodi Farm Tal. Sanand,
Dist. Ahmedabad, with all powers under the Companies Act, 1956;
(E) be pleased
to pass such other and further reliefs, as the nature and
circumstances of the present case may require.”
2. The
Court, under order dated 14.10.2003, issued Notice to the respondent.
It appears that at certain stage of the proceedings, a defence was
raised by the respondent-Company on the basis of provisions contained
under the SICA. Thereafter, the petition remained pending.
3. Now,
when the petition is taken-up for further hearing, the parties have
jointly submitted that as a result of negotiations, a settlement has
been arrived at between the parties.
4. Mr.
Rituraj M. Meena, learned advocate appearing for the
petitioner-Corporation and Ms. Vaibhavi K. Parikh, learned advocate
for the respondent-Company have jointly submitted that during the
pendency of the proceedings of present petition, the
petitioner-Corporation and the respondent-Company would enter into
negotiations for settlement outside the Court and as a result of such
negotiations, a mutually agreeable and amicable settlement has been
arrived at. The terms and conditions of the settlement between the
parties are reduced into writing in the form of “Settlement
Pursis” dated 14.10.2011, which is signed by the Authorized
Representative/Officer of the petitioner-Corporation and the
respondent-Company as well as their respective Advocates. The
signatures of the Authorized Representative/Officer of the petitioner
and the respondent are identified by their respective advocates.
5. It
is also stated in the settlement pursis that a demand draft for a sum
of Rs.1,45,555/- drawn on Dena Bank which is dated 26.09.2011 has
been handed over to the petitioner-Corporation by the
respondent-Company and the said payment is towards full and final
settlement for all dues.
6. Mr.Meena,
learned advocate and Ms.Parikh, learned advocate have placed on
record the said settlement pursis and they have jointly submitted
that the petition may be disposed of in terms of the settlement,
since the parties do not wish to prosecute the same.
7. In
view of the aforesaid joint submission and request by the learned
advocates for the petitioner-Corporation and the respondent-Company,
the petition is disposed of in terms of the settlement. The
petition, accordingly, stands disposed of. Notice is discharged.
(K.M.
Thaker, J.)
rakesh/
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