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CONT.CAS(C)346/2015 & CM APPL.10513/2015
ATUL JAIN Petitioner
Through Mr.Asheesh Jain,Advocate.
Petitioner in person.
Through Respondents Mr.R.K.Joshi with Mr.Dilraj
Kumar,Advocates.
Respondent no. 1 in person.
KIRAN JAIN Petitioner
Through Mr.Asheesh Jain,Advocate.
Petitioner in person.
Through AND
MANIDHARI TRADING CO Petitioner
Through Mr.Asheesh Jain, Advocate.
2015:DHC:10876
Through
02.07.2015 Present contempt petition has been filed alleging wilful disobedience ofthe orders dated 5^^ November,2014 passed bythe Company Court in Co.
Pets. 327-329/2014,by virtue ofwhich the two Directors ofKeep In Touch
Clothing Private Limited had assured and undertaken to the Company Court that post dated cheques under the Settlement Agreements would be honoured.
Admittedly, some of the cheques under the Settlement Agreements have been dishonoured due to 'insufficient funds'.
Today in Court,learned counsel for the respondents has handed over to learned counsel for petitioner following three cheques in lieu of the dishonoured cheques
ORDER
81. No. Cheque No. Dated Amount Bank
1. 355672 25/01/2016 5,13,473/- Axis Bank Ltd.,Sector 62,Noida,U.P.
2. 355674 25/04/2016 5,13,473/- Axis Bank Ltd., Sector
3. 355675 ism/im 5,13,473/- Axis Bank Ltd.,Sector CONT.CAS(C)346/2015,349/2015,460/2015 Page 3of[3] \ Learned counsel for the respondents on instruction of Mr. Amber Joshi, respondent no. 1 who is personally present in Court assures and undertakes to this Courtthatthe aforesaid cheques are good for paymentand the same shall be honoured on presentation. Learned counselfor respondents also assures this Courtthat other post dated cheques handed over under the Settlement Agreement shall be honoured as and when they are presented for encashment. The statements made by learned counsel for respondents are accepted bythis Courtand respondents are held bound by the same. In view ofthe aforesaid,learned counsel for petitioners does not wish to pressthe presentcontempt petitions atthis stage. Consequently,present petitions are disposed ofas satisfied. However, petitioners are given liberty to seek revival of the petitions in the event cheques handed over underthe Settlement Agreement are dishonoured. U MANlVin^HAN,J JULY 02,2015 m CONT.CAS(C)346/2015,349/2015,460/2015 Page3of[3]