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Veermani Engineering Co vs Jmc Paper Tech Pvt. Ltd

High Court Of Gujarat|08 April, 2015
1. Both the counsels have jointly requested for taking up this matter for final disposal in light of consent terms. The same is taken on record. The consent terms indicate as under:
"We, the undersigned parties in the present company petition have agreed to the below mentioned consent terms.
1. The Respondent company admits its liability and agrees to pay Rs.3,73,954/- with further interest @15% p.a. w.e.f. 1.4.2015 till the full and final payment by way of full and final settlement.
2. The respondent company agrees to pay Rs.25,000/- of monthly installment commencing from the 30th April, 2015 and thereafter on each of 30th of the month till entire aforestated amount is wholly paid up. The respondent company shall Page 1 of 2 O/COMP/188/2014 ORDER hand over cheque of the monthly installment, on or before 30th of each English calender month without fail.
3. If the respondent company commits any default in making payment of clause (2) herein above the company petition shall revive from this stage without giving notice to the respondent Company by filing note in the registry."
2. In view of the aforesaid consent terms, the matter is disposed of. The parties are bound by the consent terms with a liberty to petitioner to revive the petition in case of difficulty.
(S.R.BRAHMBHATT, J.) pallav Page 2 of 2
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