1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION jmi COMPANY PETITION NO.715 OF 2009. In the matter of winding up of IOL Netcom Ltd. Deven Raghani. ..Petitioner. vs. IOL Netcom Ltd. ..Respondent. .... Mr. Kedar Wagle, for Petitioner. Mr. V.J. Shah, a/w. Mr. C.N. Mehta, for Respondent. Mr. Hari Kohli, Consultant of Respondent, present. .... CORAM : S.J.KATHAWALLA, J. DATE : 12TH OCTOBER 2009. P.C. The following order is passed in the company petition by agreement of the parties :- (i) Respondent company shall pay to the petitioner, by pay order/banker’s cheque an amount of Rs.5,20,000/- as follows :- (a) Rs.1,00,000/- on or before 16th October 2009. (b) Rs.4,20,000/- on or before 9th November 2009. (ii) After the aforesaid amount of Rs.5,20,000/- is paid to the petitioner by the respondent company, the petitioner, will be at liberty to take out appropriate proceedings including filing of a civil suit to recover his alleged balance dues from the respondent company. (iii) The respondent company through its Advocates as well as the Consultant, who is present in Court undertakes that no 2 further extension of time will be sought from the Court to make the aforesaid payment of Rs.5,20,000/- to the petitioner. Undertaking of the respondent is accepted. (iv) In the event of the respondent company failing to pay the amount of Rs.1,00,000/- on 16th October 2009 or the amount of Rs.4,20,000/- on or before 9th November 2009, the company petition shall revive and stand admitted without reference to this Court. The company petition shall be advertised by the petitioner in two local newspapers, namely “Free Press Journal”, “Maharashtra Times” and in the Maharashtra Government Gazette. The petitioner shall deposit an amount of Rs.10,000/- with the Prothonotary and Senior Master towards the publication charges, within three weeks from the date of the respondent company failing to deposit any of the said amounts, with intimation to the Company Registrar failing which the petition shall stand dismissed for non-prosecution. 2. Company petition is accordingly disposed of with no order as to costs. [ S.J.KATHAWALLA, J. ]