M. K. Shrawat, Member - (1.) C.P.187/241-242/Nclt/Mb/Mah/2017 C.P. 189/241-242/NCLT/MB/MAH/2017 The Learned Representative of the Respondent is present.
(2.) The Consent Terms duly signed by the rival parties are submitted on 17.11.2017, according to which, the parties have settled the dispute. For the sake of completeness of the Settlement the relevant paras of the Consent Terms are reproduced below :- " (1) The present petition has been filed by the petitioners against the Respondents u/s241 & 242 of the Companies Act for the relief specifically mentioned therein. (2) The parties hereby desire to inform this Hon'ble forum that there has been a Settlement which has been arrived at between the respondent and the Petitioner (3) The parties have mutually agreed to rest the differences between them and are tendering the present consent terms before the Hon 'ble Tribunal in order to put end to the dispute at hand. (4) It is agreed by and between the parties that the Respondent will fully cooperate with the Petitioners to in order to achieve the best interest and success for the Company. (5) The Respondents agree to support the Petitioners and do not wish to take any decision or take any action without any mutual understanding and agree not to make any arbitrary decision. (6) The Petitioners and Respondents have agreed to settle all future disputes amicably in as much as the same is possible, as for both the parties the wellbeing of the Company is at heart. (7) Both the parties agree that in light of the settlement arrived at between the parties the present matter does not require to be adjudicated. It is therefore prayed that the same may be accordingly disposed of. (8) Both the parties are concerned for the well being of the Company and present petition came to be filed out of mlscommunicatlon in the parties and all the differences and mlscommunicatlons are now sorted out by and between the parties. (9) That respondents are willing to cooperate with the Petitioners in order for the company to function property for the penultimate success and wellbeing of the company. (10) That in the light of my statements made In the present consent terms the present petition does not need to be separately adjudicated. "
(3.) The request has also been made to allow Withdrawal of these Petitions and to be disposed of according to the Consent Terms.;