Calcutta High Court
Precision Engineering & Fabricators ... vs Prakash Parcel Services Ltd on 7 September, 2015
Author: Sanjib Banerjee
Bench: Sanjib Banerjee
O-7
CP No.780 of 2013
IN THE HIGH COURT AT CALCUTTA
ORIGINAL JURISDICTION
IN THE MATTER OF :
PRECISION ENGINEERING & FABRICATORS PVT. LTD.
-AND-
PRAKASH PARCEL SERVICES LTD.
BEFORE:
The Hon'ble JUSTICE SANJIB BANERJEE
Date : September 7, 2015.
Appearance:
Mr. Amritam Mondal, Adv.
The Court : The petitioner submits that though the company is in default in terms of the order of admission dated June 12, 2014, since the company has assured the petitioner that it would make the balance payment, the petition has not been advertised.
There is no doubt that a petitioning-creditor has an option to advertise the petition which has been admitted. However, if the petitioner chooses not to advertise the petition, the Court will not wait endlessly for the dues to be cleared.
The petition will appear three weeks hence. If the entire dues of the petitioner are discharged by then, the petition may be stayed. If the default has not been made good by the company and the petition has not been advertised by the time the matter appears next, the petition may also be permanently stayed. 2
Urgent certified website copies of this order, if applied for, be supplied to the parties subject to compliance with all requisite formalities.
(SANJIB BANERJEE, J.) sg.