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2011 DIGILAW 137 (HP)

Nuline Industries Private Limited v. S. S. Gupta

2011-01-05

KURIAN JOSEPH, RAJIV SHARMA

body2011
JUDGMENT Rajiv Sharma,J. In sequel to orders passed by this Court with the earnest efforts of Mediators, namely, Mr. J.S. Bhogal, Senior Advocate and Mr. Pawan Thakur, Advocate, the matter has been amicably settled between the parties. The parties have jointly placed on record memorandum of settlement and have also placed on record Schedule for implementation of memorandum of settlement dated 21.12.2010, as per clause Whether the reporters of the local papers may be allowed to see the Judgment? No. 25 whereof. The parties are directed to act upon the same. Any violation of this settlement shall be construed as Contempt of the Court. 2. Since the parties have settled the matter amicably, Nuline Industries Private Limited and Swati Storwel Private Limited shall merge into Sturdy Pipes Limited, in terms of scheme of amalgamation presented before the learned Company Judge, under sections 391 and 394 of the Companies Act, 1956. 3. It is made clear by way of abundant precaution that the terms and conditions of the memorandum of settlement will also bind GAIL. The remuneration of Mr. J.S. Bhogal, Senior Advocate and Mr. Pawan Thakur is fixed at Rs. one lakh (Rs. 50,000/- each), to be paid equally by the parties, within a period of one week from today, by obtaining proper receipt. 4. In view of the above observations and discussions, all the Company Appeals are disposed of. Pending application(s), if any, also stand disposed of. No costs.