The case involves a settlement between Gammon Engineers & Contractors Pvt Ltd and Coastal Energen Pvt Ltd, where Coastal Energen agreed to pay Rs. 2,30,00,000/- via DD No. 94114 dated 12.11.2018 and the balance in six installments starting 01.04.2019. The final installment was subject to reconciliation of accounts.
Gammon Engineers & Contractors Pvt Ltd filed a petition against Coastal Energen Pvt Ltd. Both parties reached a settlement where Coastal Energen agreed to pay Rs. 2,30,00,000/- via DD No. 94114 dated 12.11.2018. The remaining balance was to be paid in six installments starting from 01.04.2019. The first four installments were to be Rs. 1.50 Crores each, the fifth installment was to be Rs. 2.23 Crores, and the final installment was to be Rs. 2.41 Crores, payable on 15.07.2019. The final installment was subject to reconciliation of accounts. The settlement included a clause allowing Gammon Engineers & Contractors Pvt Ltd to revive the petition if Coastal Energen Pvt Ltd defaulted on the payment schedule. This settlement was presented to the National Company Law
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The case involves a settlement between Gammon Engineers & Contractors Pvt Ltd and Coastal Energen Pvt Ltd, where Coastal Energen agreed to pay Rs. 2,30,00,000/- via DD No. 94114 dated 12.11.2018 and the balance in six installments starting 01.04.2019. The final installment was subject to reconciliation of accounts.
Gammon Engineers & Contractors Pvt Ltd filed a petition against Coastal Energen Pvt Ltd. Both parties reached a settlement where Coastal Energen agreed to pay Rs. 2,30,00,000/- via DD No. 94114 dated 12.11.2018. The remaining balance was to be paid in six installments starting from 01.04.2019. The first four installments were to be Rs. 1.50 Crores each, the fifth installment was to be Rs. 2.23 Crores, and the final installment was to be Rs. 2.41 Crores, payable on 15.07.2019. The final installment was subject to reconciliation of accounts. The settlement included a clause allowing Gammon Engineers & Contractors Pvt Ltd to revive the petition if Coastal Energen Pvt Ltd defaulted on the payment schedule. This settlement was presented to the National Company Law
…Coastal Energen Pvt Ltd…
Hearing held a…
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