Bombay High Court
Invent Assets Secruritisation And ... vs Bilcare Limited Cin ... on 26 June, 2019
Author: K.R.Shriram
Bench: K.R.Shriram
1/2 cp-146-15(25).doc
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY AND ORIGINAL CIVIL JURISDICTION
COMPANY PETITION NO.146 OF 2015
Invent Assets Securitisation and
Reconstruction Pvt Ltd. ..Petitioner
Vs.
Bilcare Limited CIN L28939PN1987PLCO43953 ..Respondent
Ms. Priyanka Fadia I/b S. N. Fadia for Petitioner
Ms. Pavitra Pillay I/b Kanga and Co. for Respondent
CORAM : K.R.SHRIRAM, J.
DATE : 26th JUNE 2019 P.C.:
1 Ms Pillay for respondent states that respondent has been declared as relief undertaking as per the notification dated 27 th November 2018, issued under the Maharashtra Relief Undertaking (Special Provision) Act. Ms Pillay states that one year period commenced on 17 th November 2018 and the notification is valid till 16th November 2019. 2 As per the notification, the proceedings against the company get stayed till the validity of the notification expires. In the affidavit of one Shailendra Shrivastava affirmed on 12 th December 2018, there is nothing to deny the company's liability to petitioner. In the affidavit, it is stated that company ran into the financial difficulties, as a result of which winding up proceedings are filed against it. There is nothing in the affidavit to explain Meera Jadhav ::: Uploaded on - 27/06/2019 ::: Downloaded on - 28/06/2019 01:34:40 ::: 2/2 cp-146-15(25).doc how the company is going to pay its liability to petitioner, which according to petitioner, is for stand by liability or credit facility given to petitioner. 3 Therefore, stand over to 18th November 2019, for admission.
(K.R. SHRIRAM, J.) Meera Jadhav ::: Uploaded on - 27/06/2019 ::: Downloaded on - 28/06/2019 01:34:40 :::