2017 (8) TMI 1653 - HC - Companies Law

Matter listed today for production by urgent mentioning by the Advocates for the respondent - HELD THAT - It appears that the company has defaulted in payment of the installment on the consent terms as a result the petition now stands admitted and advertised. Counsel for the respondent seeks further time to pay the amount. The order of admission will have to be recalled which will require further advertisement. In order to enable the petitioner to obtain instructions on the mode of payment of the amount and in the event of parties agreeing to file revised consent terms, stand over to 24th August, 2017 for directions.

Summary

The Bombay High Court heard a case where the company defaulted on installment payment, leading to the petition being admitted and advertised. The respondent requested more time to pay, which may require recalling the admission order. The case was adjourned to 24th August, 2017 for further directions on payment and revised consent terms.