By IANS,
Gandhinagar : The Gujarat High Court has stayed a company court’s order allowing the winding up of a Gujarat public sector company to pay euro 493,220 dues to a German company, a lawyer said Tuesday.
German company Van Der Velden Barkemeyer Gmbh had sought the winding up of Alcock Ashdown (Gujarat) Limited. “The bench comprising Justices Jayant Patel and Bela Trivedi has admitted the appeal and stayed the company court’s order,” Navin Pahwa, advocate for AAGL, said.
The German company entered into a contract for selling to the Gujarat company equipment worth euro 396,000 in July 2007.
It contended that the Gujarat company violated the terms of contract and refused to take the delivery of the shipment, lying at the Mumbai port, and was thus liable to pay the price and other charges totalling euro 493,220.
The case would be heard March 28.