Mis. Khatema Fibres Ltd. v. Kagaz Print-N-Pack India P. Ltd.

Delhi High Court · 02 Jun 2011 · 2011:DHC:7039
Manmohan J.
Co. Appl. 1042/2011 in Co. Pet. 525/2010
2011:DHC:7039
corporate petition_allowed

AI Summary

The Delhi High Court disposed of a company petition by consent based on a compromise deed, recalling prior orders and discharging the Official Liquidator with directions for possession handover.

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Present: Mr. Manish Garg, Advocate with Mr. S.K. Bansal, Advocate for petitioner.
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Mr. Sangram Patnaik, Advocate with Mr. Anupam Siddhartha, Mr. Kamal Ahuja, Advocate for respondent.
Mr. Syed Ahmed Saud, Advocate for Official Liquidator.
Co. Appl. 1042/2011 in Co. Pet. 525/2010
(Mis. Khatema Fibres Ltd. vs. Kagaz Print-N-Pack India P. Ltd.)
At the outset, Mr. Sangram Patnaik, learned counsel for respondent states that he wishes to delete paragraphs 7 to 9 of the applications.
Accordingly, the said paragraphs are deleted.
Mr. Manish Garg, learned counsel for petitioner fairly states that the matter has been amicably resolved by way of a Compromise
Deed dated 30th May, 2011 executed between the petitioner and respondent and annexed at pages 34 to 36 ofthe present application.
Both the learned counsel state that they have received instructions that the present petition be disposed of in accordance with the aforesaid Compromise Deed dated 30th May, 2011.
The aforesaid statements are accepted by this Court and parties are held bound by the same.
Co. Pet. 52512010 page J of2.
2011:DHC:7039
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In case, any of the party breaches the aforesaid Compromise
Deed dated 30th May, 2011, the aggrieved party shall be at liberty to approach this Court.
Accordingly, with consent of parties, present petition and pending application stand disposed of in accordance with the aforesaid Compromise Deed dated 30th May, 2011. The order dated
18th May, 2011 stands recalled and the Official Liquidator is discharged as well as the next date of hearing stands cancelled.
The Official Liquidator is directed to hand back possession of the premises as well as records and assets of the respondent company.
The Official Liquidator need not publish citations in the newspapers as well as in the 'Delhi Gazette'. Any amount deposited by the petitioner shall be utilized by the Official Liquidator to meet its expenses.
Order dasti.
JUNE 02, 2011
JS
Co. Pet. 52512010
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MANMOHAN,J page 2 of2
2011:DHC:7039
JUDGMENT