9911796707
TMI Blog2011 (8) TMI 1386X X X X Extracts X X X X X X X X Extracts X X X X ..... ice of notice, respondent appeared and at request of respondent, matter was adjourned from time to time for filing of statement of objections. On 5.8.2011 learned advocates appearing for both the parties submitted that matter has been settled and to report settlement, matter has been adjourned to today. Today the parties have filed a compromise petition whereunder terms are settled between the parties as enumerated in clause 2(a) to (g) of the compromise petition. Same reads as under: (a) The Respondent, IIHT, will vacate the Premises and hand over vacant and peaceful possession thereof to the Petitioner, Motiwala Properties together with furniture, fixtures and fittings on or before 10th September, 2011, and the Leave and Licence Agreeme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that as on the date of handing over possession there are no such amounts outstanding towards any third parties in relation to the premises. The Respondent also agrees to indemnify the Petitioner against any such claims, including any service tax liability that may arise in relation to payments already made by the Respondent, and undertakes to make full payment towards any such balance claims as may arise, within one week of the intimation of these claims by the Petitioner. The Respondent also undertakes to provide within 90 days of handing over possession, TDS certificates for all taxes deducted at source. (e) Upon payment of the sum of Rs. 5,00,000 mentioned above, the appropriation of the security deposit and the full payment of the el ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he compromise petition on behalf of the firm and on their behalf. Likewise respondent company has also passed a resolution authorising Sri. N. Keshava Raju to sign and present compromise petition. Both the parties who are present before court admit execution of compromise. In that view of the matter, compromise petition as agreed to between the parties to the extent of clauses 2(a) to (f) is only accepted and insofar as clause 2(g) is concerned, it is agreed to between parties under said clause that company petition would stand admitted in the event of breach which is impermissible under law. As such the said condition namely clause 2(g) agreed to between parties under compromise petition cannot be accepted and it is hereby rejected. Howeve ..... X X X X Extracts X X X X X X X X Extracts X X X X
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