IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH. CAPP No. 1 of 2004 Date of Decision: January 30, 2009 M/s PCP International Limited ...Appellant Versus M/s Bhardwaj & Company Ltd. …Respondent CORAM: HON'BLE MR. JUSTICE M.M. KUMAR HON'BLE MR. JUSTICE H.S. BHALLA Present: Mr. Pankaj Jain, Advocate, for the appellant. Mr. Arun Nehra, Advocate, for the respondent. 1. Whether Reporters of local papers may be allowed to see the judgment? 2. To be referred to the Reporters or not? 3. Whether the judgment should be reported in the Digest? M.M. KUMAR, J. The instant appeal filed under Section 483 of the Companies Act, 1956 read with Rule 9 and 96 of the Company (Courts) Rules, 1959, challenges order dated 16.5.2003 passed by the learned Company Judge in C.P. No. 159 of 1999, which was filed by the respondent for winding up of the appellant on account of its un- ability to pay admitted debts. After adjudicating the controversy, learned Company Judge, admitted the company petition, vide order CAPP No. 1 of 2004 dated 16.5.2003, and directed that the factum of admission be published in Indian Express, Chandigarh issue, Dainik Tribune and official gazette of Chandigarh Administration at least 14 days before the next date of hearing fixed in the matter. The admission notice was not to be published for a period of two months to enable the appellant company to make the payment of the admitted dues and in the event of non-payment within stipulated period, the admission notice was to be published. Feeling aggrieved against the aforementioned order, the appellant has preferred the instant appeal. It is apposite to mention that on 1.8.2006 the Division Bench while admitting the appeal stayed further proceedings before the learned Company Judge in the company petition. Accordingly, the learned Company Judge adjourned the proceedings in C.P. No. 159 of 1999 sine die to await the decision in the instant appeal, vide order dated 19.10.2006. At the hearing today, learned counsel for the parties with the consent of the appellant as well as the respondent have stated that the dispute raised in the appeal as well as in the company petition stand amicably settled between the parties. As a result thereof, learned counsel for the appellant has handed over two cheques, bearing the signatures of the authorized signatory of the appellant, to the learned counsel for the respondent in the Court today. The detail of the cheques is as under: 1. A/c Payee Cheque No. 347917, dated 30.01.2009, for Rs. 705334.75 paise, drawn at State Bank of India, Mohali, 2 CAPP No. 1 of 2004 in favour of M/s Bhardwaj & Co. 2. A/c Payee Cheque No. 347918, dated 01.04.2009, for Rs. 894665.25 paise, drawn at State Bank of India, Mohali, in favour of M/s Bhardwaj & Co. The total of above cheques comes to Rs. 16,00,000/-, which the amount for full and final settlement. Accordingly the instant appeal as well as C.P. No. 159 of 1999 have been rendered infructuous and the same are disposed of as such. The office is directed to place a copy of this order on the file of C.P. No. 159 of 1999 for record. (M.M. KUMAR) JUDGE (H.S. BHALLA) January 30, 2009 JUDGE Pkapoor 3