Tribunals and CommissionsDivision Bench(2024) 03 NCLT CK 3235

Inox Wind Limited vs Barkat Cranes & Equipments Private Limited

National Company Law Tribunal · Decided on 14 March 2024

HON’BLE JUDGES
Sanjiv Dutt, Member (Technical) · K. R. Saji Kumar, Member (Judicial)
CASE NUMBER
C.P. (IB)/1125(MB)2023

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Judgment

4 paragraphs · 125 words

ORDER

1.

Counsel for OC and CD jointly tendered the Settlement Agreement between the parties and submit that the matter is settled and the C.P. may be allowed to be withdrawn.

2.

Having considered the Settlement Agreement and heard both the Counsel for OC and CD, the C.P. is allowed to be withdrawn with liberty to the OC to revive the C.P. by filing an affidavit, in the event of failure of any of the conditions as set out in the settlement agreement, more particularly, Paragraphs 1 and 3 as to the payment of the default amount.

3.

The CD will also have liberty to raise the matter in the event of violation of the terms of the Settlement Agreement. The main C.P. is disposed of as withdrawn.