2014 (4) TMI 1313

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....e, Advocate. For the Respondent : None. ORDER REVA KHETRAPAL, J. 1. This appeal is directed against the order dated 14.03.2014 passed by the learned Company Judge in Company Petition No.52/2013 whereby the said Company Petition was admitted to hearing and a direction was issued for publication of the advertisement of the said petition in the 'Statesman' (English Edition) and 'Jansatta'....

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....11.2013, once again two weeks time was granted to the Respondent to file a reply. Despite this, the Respondent did not file its reply. In the circumstances, the right to file reply was closed by the learned Company Judge on 14.03.2014 resulting in the passing of the impugned order. The averments made in the petition are thus uncontroverted. 3. We further note that there is no dispute between th....

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....so paid a sum of Rs. 65,00,000.00 towards part payment of the second instalment. The Appellant, however, could not pay part of the second instalment and the third instalment, and thus failed to comply with the settlement. 6. On 09.05.2012, the Appellant moved an application under Section 19(25) of the Act, before the DRT-II, for modification of the compromise decree dated 15.12.2011, explaining....

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....s as under:- "In reply to Para 13 of the legal notice it is submitted that our client is still ready to make payment of the balance agreed amount in terms of compromise dated 15.11.2011, if the applicant bank extends the time till March, 2015 and waives off the future interest." 8. It clearly emerges from the above that the Appellant is liable to pay the balance amount in terms of the ....