1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY PETITION NO. 16 OF 2010 M/s ION Exchange (India) Ltd. .... Company SAI-TECH Engineers .... Petitioner Mr. Saurabh Kulkarni a/w S.c. Naidu i/by M/s C.B. Naidu & Co. for petitioner. Rahul Mohite, Executive Legal for M/s ION Exchange (India) Ltd. Coram : S.J. Kathawalla, J. Date : 5th March, 2010 PC : 1. Mr. Rahul Mohite Executive Legal of the Respondent- Company appears in person and states on instructions that the respondent company is willing to pay to the petitioner, within a period of four weeks, the principal amount of Rs.2,37,068/- along with interest thereon at the rate of Rs.10% per annum from the date of filing of the petition till date. In view thereof the following order is passed by consent of the parties. i) The Respondent-Company shall pay an amount of Rs.2,62,019 to the petitioner on or before 5th April 2010 in full and final settlement of the petitioner's claim. ii) In the event of the respondent-company failing to pay the said amount of Rs.2,62,019/- to the petitioner on or before 5th April, 2010, the entire amount as claimed by the petitioner shall become 2 due to the petitioner, the company Petition shall without reference to this Court, automatically revive, stand admitted, made returnable within six weeks from the date of the default, and advertised in two newspapers, viz. Free Press Journal, Maharashtra Times and Maharashtra Government Gazette. In that event, the petitioner to deposit Rs.10,000/- with the Prothonotary & Senior Master towards the publication charges within a period of one week from the date of default, with intimation of such deposit to the Company Registrar, failing which the Company Petition shall stand dismissed. iii) Company petition is accordingly disposed of with no order as to costs. ( S.J. Kathawalla, J.)