TATA CAPITAL FINANCIAL SERVICES LTD. Vs. ARSHIYA LIMITED

JUDGEMENT

(1.) Not on board. Upon mentioning, taken on board.

(2.) The learned Advocate for the Respondent submits that since the Respondent undertakes to pay an amount of Rs.20 Crores to the Petitioner on or before 24 th May, 2019, the Official Liquidator who is appointed as provisional liquidator of the Respondent Company be directed not to take any further steps in the matter upto 24 th May, 2019. It is further submitted that the Registrar of Companies, Income Tax authorities and the Sales Tax authorities be directed to maintain status quo as of today.

(3.) The facts which have led to the filing of the present Application/Praecipe are briefly stated hereunder :