26.CP. 469/241/242(MB/2018)
The counsel for both the sides. It has been mutually agreed that the petitioner shall pay an amount of Rs. 7 crores towards full and final settlement to enable the respondent No. 2 to transfer the shares in favour of the petitioners. The petitioner shall make a payment of Rs. 3.5 crores to Respondent no. 2 on the date of signing of the consent terms and the balance of Rs. 3.5 crores shall be paid within a period of 4 months. However, modalities between both the parties with regard to the settlement have to be worked out by the respective counsel with cooperation from both sides, to enable the parties to prepare the consent terms and close the matter. Time granted. List this matter on 11.05.2018 for filing consent terms. The interim order passed in this case should be followed by both the parties in its letter & spirit.
Dalbir Palhemraj Saini v. B.d. Industries (pune) Pvt. Ltd. And Another
Dalbir Palhemraj Saini v. B.d. Industries (pune) Pvt. Ltd. And Another
(National Company Law Tribunal)
C.P. 469/241/242(MB/2018)? | 03-05-2018
Advocate List
Bench
- Bhaskara Pantula Mohan, Member (Judicial)
- V. Nallasenapathy, Member (Technical))
Eq Citations
- LQ/NCLT/2018/9714
Head Note
Companies Act, 1956 — S. 397 — Petition filed under — Mutual settlement arrived at — Counsel for both sides agreed that petitioner shall pay Rs. 7 crores towards full and final settlement to enable respondent No. 2 to transfer shares in favour of petitioner — Petitioner shall make payment of Rs. 3.5 crores to respondent No. 2 on date of signing of consent terms and balance of Rs. 3.5 crores within a period of 4 months — Modalities between both parties with regard to settlement have to be worked out by respective counsel with cooperation from both sides, to enable parties to prepare consent terms and close matter — Time granted
