PROMINENT ADVERTISING SERVICES Vs. KOUTONS RETAIL INDIA LIMITED

JUDGEMENT

(1.) The present petition has been filed by the petitioner under Section 12 of the Contempt of Court Act, 1971 (hereinafter referred to as the 'Act ') read with Article 215 of the Constitution of India, inter alia, praying for punishing the respondents for committing Contempt of Court by violating the order dated 07.03.2012 passed by this Court in Company Petition No. 167 of 2011.

(2.) THE petitioner had filed the Company Petition No.167 of 2011 seeking winding up of the respondent company as the respondent company had failed and neglected to pay its admitted debt of Rs.4,88,64,593/ - which was due and payable to the petitioner.

(3.) AS per the MOS dated 03.08.2011 entered into between the petitioner and respondents, the admitted debt of the respondent company was agreed to be discharged in 22 instalments. The schedule of payments as was agreed is quoted below: - <FRM>JUDGEMENT_577_ILRDLH24_2014.html</FRM>