1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY PETITION NO. 89 OF 2010 Prerana Ammonia & Chemicals Pvt. Ltd. ... Petitioners Vs M/s. Kokan Synthetics & Chemicals Pvt. Ltd. ... Respondents Dr. Birendra Saraf with Mr. Puranik i/b M/s. Puranik & Co. for the Petitioners. Mr. O.J. Menezes i/b Prashant P. Prabhu for the Respondents. CORAM : S.J. VAZIFDAR, J. DATED : 7TH JULY, 2010. P.C. : 1. The following order is passed at the request of and with the consent of the parties whose representatives are present in court : (i) The Respondent-company agrees to pay a sum of Rs.5,00,000/- on or before 31st August, 2010, a further sum of Rs.5,00,000/- on or before 31st October, 2010 and 2 a balance amount of Rs.22,00,000/- in eleven equal monthly installments on or before the tenth day of each month, commencing from 10th December, 2010. (ii) The Respondent-company also agrees to pay interest on the reducing balance of this aggregate sum of Rs.32,00,000/- at the rate of ten per cent per annum. (iii) In the event of the amounts being paid as aforesaid, the Petitioner agrees to receive the same in full and final satisfaction of all its claims. In that event, both the parties agree that they would have no claim against the other of any nature whatsoever in respect of the transactions referred to in the Company Petition. (iv) In the event of the Respondent failing to pay the amount as aforesaid, the Company Petition shall stand admitted and to be advertised in Free Press Journal, Maharashtra Times and Maharashtra Government Gazette. The Petitioner to deposit an amount of Rs. 3 10,000/- with the Prothonotary and Senior Master of this Court within four weeks from the date of default. (v) Further, in that event, the Petitioner’s claim shall not be restricted to the said sum of Rs.32,00,000/-. Needless to add that in that event, the Petitioner will be entitled to prosecute the Suit filed in the Thane District Court. However, in the event of the amount being paid as aforesaid, the Petitioner shall withdraw the said Suit unconditionally and without any further order.