TMI Blog2016 (10) TMI 600X X X X Extracts X X X X X X X X Extracts X X X X ..... and taken from the company by either parties that is the petitioner and the Respondents as well. - CP. No. 07/2016 - - - Dated:- 11-7-2016 - SHRI B.S.V. PRAKASH KUMAR AND SHRI V. NALLASENAPATHY, JJ. For The Petitioner : Deepa Khushalani, Sameer P. Khodekar, Adv. and Girish C. Nirgun For The Respondent : Devki Nandan , S. Agarwal and Pradeep Govind Dinkar ORDER C.P Nos. 07/ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oner and R2 4 consented for disposal of the company petition on the terms as mentioned below: 1. That the parties agreed for appointment of Shri. Rajesh Kumar Modi Associates, Chartered Accountants as valuer to value the shareholding of each of these parties within 15 days herein. The parties shall pay remuneration as agreeable to the valuer in proportion to their respective shareholding. Val ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... consideration the stocks gone out of the Company and credited to their personal accounts or their personal business entities. 3. That since the Petitioner, taking over the company, is in minority, he will nominate persons of his choice as two directors from his side apart from himself. R2 R4 will also continue as directors until full consideration receivable by R2-4 is paid to them by the pet ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... itioner on 12-07-2016 and the same shall be put in writing disclosing delivery of the land, plant and machinery and inventory if any to the Petitioner. 6. That the Petitioner shall pay consideration to R2-4 to take exit from the Company based on valuation given by valuer within 6 equal monthly instalments and first instalment shall be made within 15 days from the date valuer has filed his repor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hen sale takes place. 10. The Petitioner shall provide postdated cheques to R2-4 towards consideration receivable by R2 to R4 as per valuation given by the valuer within 10 days of filing valuation report. 11. The Petitioner shall not alienate or create any third party rights over the assets of the Company until full payment is made to R2 to R4. This Bench, accordingly, disposed of CP 7/2 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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