Ultratech moves court against Vadodara’s Northway Spaces

Ultratech moves court against Vadodara’s Northway Spaces
29/06/2018 , by , in ALLIED

Ultratech Cement Limited (UCL) has filed a criminal enquiry case under Negotiable Instruments Act against Northway Spaces Limited (NSL) and its directors Mona Amit Bhatnagar, Richa Sumit Bhatnagar, Madhurilata Suresh Bhatnagar and Ashwini kumar Sahoo in a judicial magistrate’s court.

The cement company filed the case after a cheque of Rs 15 lakh issued by the real estate company was returned due to lack of funds in the latter’s bank account.

According to UCL’s counsel Prashant Kapadia, Ultratech was supplying mixture of cement concrete to Northway Spaces for its construction activity for the last couple of years. “They were to pay up Rs 17 lakh to UCL for which they gave a cheque of Rs 15 lakh as a part payment around two months back. But when the cheque was deposited, it was returned by the bank,” Kapadia said.

The complaint given by the UCL stated that realtor’s intention was to cheat them and therefore they had not arranged for adequate funds in their account. UCL even served notice to Northway Spaces and its directors, yet the payment was not done.

The cement company then filed the case in a judicial magistrate’s court in Vadodara.

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