TMI Blog2017 (8) TMI 1629X X X X Extracts X X X X X X X X Extracts X X X X ..... is is evident from the fact that after paying the first instalment the company committed default. This was not remedied immediately but they have been in default since April. Though the Order of this court required the petition to be be advertised the Petitioners have played along and appear to have now arrived at fresh and modified terms. The process is being misused. Given past conduct this rene ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tled as submitted by counsel, the order of admission could be recalled after a further advertisement was issued. In order to enable the parties to obtain instructions and in the event of parties agreeing to file further revised terms, the matter was adjourned for directions. 2. Today Mr. Bookwala states that parties have arrived at revised consent terms and seeks appropriate directions. In the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rores. The order of the Division Bench was also called into question in Special Leave to Appeal (C) no.5849 and 5850. Vide order dated 27th February, 2017 the Special Leave petitions were disposed of. 5. The Supreme Court recorded a statement of counsel appearing on behalf of the company that the company would deposit three crores and that the company undertook to pay further balance of ₹ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Court when the matter was taken on the production board on 14th August, 2017. The respondent company has obviously not honoured the statement made before the Supreme Court that a sum of ₹ 3 crores will be deposited. It has also not honoured the undertaking that balance of amount of ₹ 15 crores would be deposited within six months after depositing ₹ 3 crores. A sum of ₹ 3 cr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d. Given past conduct this renewed attempt at settlement does not appear bonafide. The petition already stands admitted. Accordingly, the provisions of clauses 6 and 7 are now required to be performed in accordance with the order dated 22 nd March, 2017. In the aforesaid facts, no further directions are required except that the petitioner shall now advertise the admission of the petition. Returna ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
