UNION ROADWAYS LTD Vs. SONACHI INDUSTRIES LTD

JUDGEMENT

(1.) The Petitioner have filed the above petition against Respondent for winding up or For appointing Insolvency and Resolution Professional for claim of Rs. 7,04,485/- (Seven Lakh (bur Thousand four Hundred and eighty five only) as mention in Fxhibit-M petitioner claim in the Petition and Respondent after service of Notice agreed to settle their dispute and enter into consent terms.

(2.) The Petitioner and Respondent have agreed to settle their dispute where the Respondent has agreed to pay total amount of the claim ;of the petitioner of Rs. 7.04,485/- in Seven installment.

(3.) In view thereof, it is agreed by and between the parties that the Respondent will pay the aforesaid outstanding amount of Rs. 7,04,485/- /- {Seven Lakh four Thousand four Hundred and eighty five only) to the Petitioner as follows.