- (1.) Cp No.1185/I&BP/NCLT/MB/MAH/2017 On the Withdrawal Memo filed by the Petitioner Counsel, the Petition is hereby dismissed as withdrawn looking at the Consent Terms arrived between the parties. MEMO FOR WITHDRAWAL OF PETITION MAY IT PLEASE YOUR HONOR: For and on behalf of the applicant & and pursuant to Consent Terms enclosed herewith, be pleased to take on record the above referred Memo for withdrawal of the said petition. CONSENT TERMS The parties to the above Company Petition agreed to settle the disputes amicably and the Respondent has offered and the Petitioner has agreed to accept a sum of Rs. 20,00,000/-(Rupees Twenty Lakhs Only) towards full and final settlement of the claims of the Petitioner under the captioned Petition, against the Respondent Company.
(2.) The Respondent herein agrees to pay the said agreed amount in 5 equal monthly instalments amounting Rs.4,00,000/-per month starting from 10th of September, 2017 and continue for next 4 months, i.e., October 10, 2017, November 10, 2017, December 10, 2017 and January 10, 2018 by virtue of the following 5 (Five) post-dated cheques to and in favour of the Petitioner (which the Respondent Company hereby undertakes to duly honour, failing which proceedings for contempt may be initiated by the Petitioner):
(3.) Petitioner hereby agrees that said agreed amount is in full and final satisfaction of all claims of the Petitioner under the captioned Petition against Respondent herein. Petitioner agrees that there will be no any further claim under the captioned Petition against the Respondents.;