THE HON'BLE SRI JUSTICE C.V.NAGARJUNA REDDY COMPANY PETITION No.157 of 2012 Date: 10.02.2015 Between: Kotak Mahindra Bank Limited, Hyderabad. ..... Appellant AND M/s. Sagar Infra Rail International Ltd., Hyderabad. .....Respondent Counsel for the Appellant : Mr. S. Maruthi Rao Counsel for the Respondent : Ms. Neha Akkineni For Mr. Ch. Pushyam Kiran The Court made the following : ORDER: This Company Petition is filed for an order to wind up the respondent for non-payment of the debt due to the petitioner. This case has undergone several adjournments. It is represented by Mr. S. Maruthi Rao, learned counsel that in the place of Mr.Ambadipudi Satyanarayana, the petitioner has engaged him. Mr.K. Ravi Shankar, Manager (Legal) of the petitioner-company confirmed the fact that Mr. Maruthi Rao is engaged in place of Mr.Ambadipudi Satyanarayana. The learned counsel for the respondent placed before the Court the affidavit of the Managing Director of the respondent along with a Memorandum containing the consent terms vide USR No.414 of 2015, wherein it is stated that the petitioner and the respondent have entered into a Memorandum containing the terms arrived at by mutual consent and that the respondent will make payment of the entire debt amount in instalments at the rate of Rs.9,02,832/- per month commencing from January, 2015 to November, 2018, besides making down payment of Rs.5,00,000/- at the time of signing the Memorandum containing the concerned terms. Mr.K. Ravi Shankar, the authorized officer of the petitioner- company has confirmed the fact of the parties settling the disputes outside the Court. Learned counsel for the petitioner submitted that the Company Petition may be closed in view of the out of Court settlement, however, with liberty to the petitioner to seek reopening of the same in the event the respondent commits default in making payments as per the agreed terms. In the light of the above submissions and the Memorandum of Understanding reached between the parties, the Company Petition is closed with liberty to the petitioner in terms of the prayer made. ____________________________ C.V.NAGARJUNA REDDY, J Date: 10.02.2015 va