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NON-REPORTABLE     

IN THE SUPREME COURT OF INDIA

CIVIL APPELLATE JURISDICTION

CIVIL APPEAL NO.  8258  OF 2013  (Arising out of SLP (C) No.19767 of 2013)

Bhasha Construction & Industrial Projects Pvt. Ltd. .....Appellant

        Versus

Shining Vyapar Pvt. Ltd.         …..Respondent

O R D E R

1. Leave granted.

2. Heard the learned counsel appearing for the appellant as well as  

the respondent.

3. We  are  happy  to  note  that  in  the  course  of  hearing  of  this  

appeal,  the  parties  to  the  litigation  have  amicably  resolved  their  

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dispute for the time being and therefore, the appeal is being disposed  

of with certain directions.

4. The respondent-Company has filed winding up Petition No.306  

of 2012 in the High Court at Calcutta as, according to the respondent,  

the appellant Company could not pay its dues.  It is an admitted fact  

that the appellant had borrowed Rs.15 lacs from the respondent and  

out of the said amount Rs.2 lacs had already been paid before filing of  

the winding up petition.  A sum of Rs.13 lacs was due and payable,  

which was not paid by the appellant in spite of receiving a statutory  

notice  from  the  respondent.   According  to  the  appellant,  certain  

amount is had due and payable by the sister concern of the respondent  

company to the sister concern of the appellant company and as the  

accounts  had  to  be  adjusted,  the  appellant  had  refused  to  pay  the  

aforestated amount of Rs.13 lacs.

5. After hearing the concerned counsel of the parties, the petition  

was admitted and an order for publication of advertisement had been  

passed on 22nd January, 2013.

6. Being  aggrieved  by  the  said  order,  the  appellant  had  filed  

A.P.O. No.120 of 2013 in the  Company Petition No.306 of 2012,  

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which has been rejected on 19th April, 2013 by the Division Bench of  

the  Calcutta  High  Court  and  therefore,  this  appeal  has  been  filed  

against  the  aforestated  order.   When  this  appeal  was  notified  for  

hearing on 10th July, 2013 before this Court, this Court had directed  

the appellant to deposit Rs.13 lacs with the Calcutta High Court and  

the said amount has been deposited.  

7. It has been agreed among the parties and therefore, we direct  

that out of said amount of Rs.13 lacs deposited with the Calcutta High  

Court,  the respondent  is  permitted  to  withdraw Rs.10 lacs  and the  

remaining amount of Rs.3 lacs shall be returned to the appellant.  The  

winding  up  proceedings  shall  be  dropped  or  permitted  to  be  

withdrawn and the hearing of Civil Suit No.332 of 2012 filed by the  

appellant  along  with  its  sister  concern  against  the  respondent  and  

others, before the Calcutta High Court shall be expedited.  

8. The learned counsel appearing for both the parties have assured  

this  Court  that  the  litigants  and  the  counsel  appearing  in  the  

aforestated civil suit shall extend their cooperation to the High Court  

so that the aforestated suit can be disposed of at an early date.

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9. In view of the above order,  the order dated 19th April,  2013  

passed  in  APO No.120 of  2013  in  CP No.306  of  2012  and  order  

passed  in  winding up Petition No.306 of  2012 dated 22nd January,  

2013 are quashed and set aside.  The appeal is disposed of accordingly  

without any  order as to costs.

 ……………................................J.

(ANIL R. DAVE)

……...........................................J.  (DIPAK MISRA)

New Delhi September 13 , 2013

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