FIRST GARMENTS MANUFACTURING COMPANY (INDIA) PRIVATE LIMITED, REP BY ITS MANAGER ACCOUNTS V KANNAN Vs. BHARAT TEX FASHIONS LIMITED (IN LIQUIDATION) REP BY OFFICIAL LIQUIDATOR HIGH COURT

JUDGEMENT

(1.) First Garment Manufacturing Company (India) Private Limited, Madurai, aggrieved by the order of the learned single Judge dated 9th October, 2002, made in Company Application No.1309 of 2001 in Company Petition No.145 of 1999, has filed the above Appeal.

(2.) It is brought to our notice that during the pendency of the above appeal, the appellant has agreed to pay the security guards a sum of Rs. 10,00,000/- (Rupees tgen lakhs only) in full and final settlement of the amounts due to them. To this, the counsel for the appellant filed a Memo dated 24.03.2006.

(3.) Learned counsel for the appellant has produced Xerox copy of the letter dated 11th March, 2006 from Tops Security Limited, wherein, they agreed to receive the amount of Rs. 10,00,000/- towards full and final settlement of the amount due to them. The said letter reads as under:-