Daily Status
Special Courts for Trial and Disposal of Commercial Disputes, Andhra Pradesh
Case No : COP - 81/2024
Diary No : 3653605001672024
M/s. Teja Infra Tech VS Mr. Venkata Reddy Yenumala
Listing Date : 20/08/2024
Date 20/08/2024   Court No. 1
Proceedings Summery Order Pronounced in the Open Court (VSO). In the result, the petition is partly allowed as under : 1.The respondents No.3 and 4 are directed to de-freeze and activate the bank accounts of the petitioner No.1 partnership firm for its operation. 2. The petitioner No.2 is permitted to operate the petition schedule A and B accounts of the petitioner No.1 partnership firm maintained with the respondent Nos.3 & 4 banks and the debits (withdrawals or transfer of money from the said accounts) shall be strictly for the purpose of running the business of the petitioner No.1 firm i.e., to purchase raw material from suppliers, to pay salaries, allowances, wages, to the workers/employees of the petitioner No.1 partnership firm and to make payments to wards electricity bills to the concerned authorities and payments of EMIs and statutory taxes and net for any other purposes. 3. The petitioner No.2, while operating the accounts, shall maintain the accounts/records of all the transactions and send the details of the transactions to other partners once in every fortnight. 4. No amount out of the said accounts shall be utilized for personal expenses or no amount shall be transferred to the accounts of any third party unless such transfer is required for the business of the firm. 5. While sending the details of transactions to the other partners as mentioned in condition No.3 above, continue. Stage Of Case For Order