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Judgment
TARA VITASTA GANJU, J.: (Oral)
CO.APPL. 1353/2019 [Restoration]
This is an Application seeking restoration of the present Petition.
For the reasons as stated in the Application and in view of the order that is sought to be passed today, the Petition is restored.
CO.PET. 460/2014
Learned Counsel for the parties submits that the matter has been amicably settled between the parties and a Settlement Agreement dated 12.08.2025 [hereinafter referred to as “Settlement Agreement”] has been entered into.
Learned Counsel submit that in terms of the Settlement Agreement one of the shareholders of the Respondent Company has agreed to acquire the entire equity share capital of Respondent from the Petitioner at a fair valuation certified by a qualified professional, with valuation fees shared equally. It further sets out that the share transfer will be completed within six months (or within one month post-compounding, if applicable) and subsequently, the parties shall undertake the formalities and the approvals as are out in the Settlement Agreement.
Learned Counsel for both the parties on instructions affirm the settlement and, on instructions, agree to abide by the terms and conditions of the Settlement Agreement.
The parties are bound down by the statement made by their counsel today.
The present Petition was filed for winding up of the Respondent company under Section 433 and 434 of the Companies Act, 1956 by the Petitioner company. The parties have settled their disputes prior to any winding up order being passed by this Court. Learned Counsel appearing on behalf of the Petitioner submits that since the matter between the parties stands settled, nothing survives for further adjudication in the matter. However, they request that the matter be fixed for compliance.
The Petition is accordingly disposed of. All pending Applications stand closed.
List for compliance on 12.02.2026.
The parties shall act based on a digitally signed copy of the order.