Karnataka High Court
Indus Westside Healthcare Pvt Ltd vs Carpet Udyog Inc., on 10 April, 2014
Bench: Dilip B.Bhosale, B.Manohar
1
` IN THE HIGH COURT OF KARNATAKA AT BANGALORE
DATED THIS THE 10th DAY OF APRIL 2014
PRESENT
THE HON'BLE MR. JUSTICE DILIP B BHOSALE
AND
THE HON'BLE MR. JUSTICE B MANOHAR
O.S.A.NO.31/2012
BETWEEN
INDUS WESTSIDE HEALTHCARE PVT. LTD.,
A COMPANY INCORPORATED UNDER THE PROVISIONS
OF THE COMPANIES ACT, 1956, HAVING ITS REGD.
OFFICE AT NO.3P(2), 60 FT. ROAD, 1ST BLOCK,
(VALGERAHALLI), JNANABHARATHI LAYOUT
BANGALORE-560060, AND IS REPRESENTED BY ITS
CHAIRMAN AND MANAGING DIRECTOR
MR AHSOK KUMAR C. JAIN
S/O CHATARMAL JAIN
AGED ABOUT 43 YEARS ... APPELLANT
(By Sri. S.GANESH SHENOY, Adv.,)
AND
CARPET UDYOG INC.,
A REGISTERED PARTNERSHIP FIRM
HAVING ITS OFFICE AT NO. 32/1
1ST TEMPLE ROAD, 10TH & 11H CROSS
MALLESHWARAM, BANGALORE-560003
REPRESENTED BY ITS PARTNER
MR ASHOK KUMAR GUJJAR ... RESPONDENT
(BY SRI V.JAYARAM, ADV.,) THIS OSA IS FILED U/S 4 OF THE KARNATAKA HIGH COURT ACT, 1961, PRAYING TO SET ASIDE THE IMPUGNED ORDER DATED 2 08.06.2012 PASSED IN CO.P.NO.157/2011 PASSED BY THE LEARNED SINGLE JUDGE.
THIS OSA COMING ON FOR ADMISSION, THIS DAY, Dilip B. Bhosale J. DELIVERED THE FOLLOWING:
PC:
This Original Side Appeal, by the appellant-Company, is directed against the order of winding up passed by the learned Company Judge dated 08.06.2012 in Company Petition No.157/2011.
2. On 23.01.2014, we were informed that the appellant-Company has amicably settled with the respondent-Company and in view thereof, we passed the following order:
"This appeal is directed against the order of winding up passed by a Company Judge.
Official liquidator has not taken charge so far in view of the interim order passed by this Court.
It is not clear whether this Company has any other creditors/secured creditors though learned counsel for the appellant-Company submits that except the respondent and State Bank of India, there are no other creditors/secured creditors. Insofar as the Company and the respondent are concerned, 3 we are informed that they have amicably settled the dispute. In this view of the matter, in order to verify whether there are any other creditors/secured creditors, learned counsel for the appellant submits that he has no objection for allowing the official liquidator to advertise inviting claims. He undertakes to deposit the expenditure for publication of an advertisement with the official liquidator within a period of ten days from today.
The official liquidator shall take steps to advertise a notice, as aforementioned, in English daily "Indian Express" and Kannada daily "Udayavani", published from Bangalore, within a period of four weeks from today.
The appellant to deposit the expenditure that will be incurred by the official liquidator for publishing advertisement within a period of ten days from today.
Appeal to come up for further hearing on 20.02.2014. Interim order to continue till the next date."
3. In view of the above order, the Official Liquidator published an advertisement in the newspapers inviting claims from the creditors.
4. Today, we are informed that about seven creditors have come forward and the total sum claimed by them is about `50,00,000/- (Rupees fifty lakhs). We are 4 further informed that the Bank has also initiated proceedings under the SARFAESI Act and moved the Debt Recovery Tribunal (DRT) to recover about `30,00,00,000/- (Rupees thirty crores) due from the Company.
5. Learned counsel for the appellant expressed inability of the appellant-Company to satisfy the claim of other creditors. In this view of the matter, we have no option to dismiss the appeal. Order accordingly.
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JUDGE Sd/-
JUDGE TL