Fri. Apr 23rd, 2021

Changzhou Trina Solar Energy Co. … vs Hindustan Power Projects (P) Ltd. on 29 May, 2017

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CA Nos.10/2016 in CO.PET. 585/2014

1. These applications have been moved by the petitioner under
Rule 6 & 9 of the Companies (Court) Rules, 1959 praying for revival
Co.P.Nos.584-585/2014 Page 1 of 8
of the Company Petitions bearing Nos.584 and 585 of 2014 and
consequently for the liquidation of respondent company. The
petitions were disposed of vide order dated 12.01.2015.

2. Both the parties had entered into a settlement and filed the
consent terms with this Court along with a settlement agreement
dated 08.01.2015. As per the settlement, an amount of USD
30,379,115.60 cents were to be paid by the respondent company to
the petitioner, in 12 equal monthly installments as enumerated in the
said agreement. The said agreement was entered pursuant to the
mutual discussions where such an amount was offered by the
guarantors in full and final settlement of total outstanding of USD
35,740,136 (including principal amount of USD 34,038,225 and
liquidated damages to the tune of USD 1,701,911).

Source: Indian Kanoon

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