STANTECH PROJECT ENGG. PVT. LTD. vs NICCO CORPORATION LTD.

The Supreme Court addressed the appeals concerning the winding-up petitions filed by Stantech Project Engineering Pvt. Ltd. against Nicco Corporation Ltd. under Section 434 of the Companies Act, 1956. The Court held that the concession made by the Respondent's counsel regarding payment of dues in installments was valid and should be recognized, thereby reversing the High Court's decision that set aside the Company Judge's order. The Court emphasized the importance of adhering to the agreed terms of payment and the implications of non-compliance with statutory notices.