Calcutta High Court
Burn Standard Co. Limited vs Texmaco Rail & Engineering Ltd on 18 August, 2015
Author: Sanjib Banerjee
Bench: Sanjib Banerjee
OD-22
CP No.485 of 2015
IN THE HIGH COURT AT CALCUTTA
ORIGINAL JURISDICTION
IN THE MATTER OF:
BURN STANDARD CO. LIMITED
AND
TEXMACO RAIL & ENGINEERING LTD.
BEFORE:
The Hon'ble JUSTICE SANJIB BANERJEE
Date : August 18, 2015.
Appearance:
Mr. Indranil Roy, Adv.
Mr. A. Mukherjee, Adv.
Mr. S. Pal, Adv.
The Court : Pursuant to the order dated July 28, 2015, a status report has been submitted by the Registrar of the Board for Industrial and Financial Reconstruction.
It is alarming that a reference of the year 1994 remains pending for 21 years. The report of the Registrar does not indicate the circumstances in which the reference has remained pending for more than two decades.
Since the present petition has been filed during the pendency of a reference under the Sick Industrial Companies (Special Provisions) Act, 1985, the petition is not maintainable in view of Section 22(1) of the said Act of 1985. Accordingly, CP No. 485 of 2015 is dismissed without going into the merits thereof and by leaving the petitioning- creditor free to pursue the claim in accordance with law. 2
The Assistant Registrar (Companies) will inform the Registrar of BIFR that quarterly status reports, including the latest minutes of the reference, should be filed by the Registrar in this Court with effect from the period ending September 30, 2015.
There will be no order as to costs.
Urgent certified website copies of this order, if applied for, be supplied to the parties subject to compliance with all requisite formalities.
(SANJIB BANERJEE, J.) sg.