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Judgment
S. Abdul Nazeer, J.—Petitioner has filed this company petition for winding up of the respondent company u/s 433(e) of the Companies Act, 1956. The contention urged on behalf of the petitioner is that the respondent has failed to pay a sum of Rs. 17,59,090/- with interest at 21% p.a. from the date it is due till the date of filing of the petition. Sri Mahendra, Administrative Supervisor of the petitioner company is present before the Court. Sri Bobby Sebastian, Director of the respondent company is also present before the Court. They are identified by the learned Advocates appearing for the parties. Learned Counsel for the respondent submits that the respondent company has already paid/deposited in the Court a sum of Rs. 20,59,090/-. He undertakes to deposit a further sum of Rs. 1,00,000/- with the Registry during the course of the day. Thus, the total amount paid/deposited comes to Rs. 21,59,090/-. Learned counsel for the respondent submits that the aforesaid amount has been paid/deposited in full and final settlement of the claim. Learned counsel for the petitioner submits that respondent is agreeable to receive the aforesaid sum of Rs. 21,59,090/- in full and final settlement of the clam. It is thus clear that the dispute between the parties has been settled as above. Therefore, it is not necessary to proceed further in the matter. The company petition is accordingly dismissed. Petitioner is permitted to withdraw the entire amount in deposit in this case. Sri Mahendra, Administrative Supervisor of the petitioner company is permitted to withdraw the amount in deposit on behalf of the petitioner company as suggested by the learned Counsel for the petitioner-company. No costs.