Document Fragment View

Matching Fragments

 Stopping the analyses and related activities for the Phase-2 requirements  Withholding of releases  Withholding of source codes/executables  The software license purchased on behalf of Flo2Go will not be transferred to Flo2Go unless the payments are made over  Re-deployment of the team from July 01, 2010 onwards.

8. On 7.7.2010 a legal notice was sent by the Advocates for the petitioner to the respondent-company. This was addressed to the registered office of the respondent-company at G-15, 5th Floor, Technopolis, Sector-54, Gurgaon, Haryana. This is the address to which the notices were to be sent in terms of clause 21.4 of the MSA. It was stated in this notice that since the respondent-company had failed to make payment of the amount of Rs.2,21,03,962.43, the same shall be paid with future interest at 1.5% per month on each of the relevant invoices till the date of payment and in case the amount is not so paid within 21 days from the date of receipt of the notice, proceedings for winding up will be initiated against the respondent-company under Section 433(e) and (f) of the Companies Act, 1956. The respondent- company was requested to treat the notice as a notice under Section 434 of the Act.