Delhi High Court - Orders
New Cawnpore Flour Mills Ltd vs Bakemans Industries P. Ltd on 1 September, 2023
Author: Prathiba M. Singh
Bench: Prathiba M. Singh
$~C3 & C4
* IN THE HIGH COURT OF DELHI AT NEW DELHI
+ CO.PET. 204/2003 and CO.APPL. 754/2011, 1750/2015,
3879/2015, 1068/2016, 1217/2016, 4991/2016, 1253/2019, 562/2020,
695/2020, 411/2023
NEW CAWNPORE FLOUR MILLS LTD. ..... Petitioner
Through:
versus
BAKEMANS INDUSTRIES P. LTD. ..... Respondent
Through: Ms. Ruchi Sindhwani, Sr. Standing
Counsel, Ms. Megha Bharara, Adv.
for OL. (M: 9811533510)
Mr. Preeti Gupta, Adv.
Mr. Prabhat Chaurasia, Adv.
Ms. Somya Yadava for Mr. Prashanto
Chandra Sen, Sr. Adv. for Applicant.
(M:9810995738)
C4 WITH
+ CRL.O.(CO.) 15/2015 and OLR 136/2016, 310/2016
BAKEMAN INDUSTRIES LTD. (IN PROV. LIQN.) ..... Petitioner
Through:
versus
SH. RAJIV KUMAR & ORS. ..... Respondents
Through: Ms. Ruchi Sindhwani, Sr. Standing
Counsel, Ms. Megha Bharara, Adv.
for OL.
Mr. Preeti Gupta, Adv.
Mr. Prabhat Chaurasia, Adv.
CORAM:
JUSTICE PRATHIBA M. SINGH
ORDER
% 01.09.2023
1. This hearing has been done through hybrid mode. CO.APPL. 695/2020 (for delay) in CO.PET. 204/2003
2. This is an application filed on behalf of the Applicant i.e., Punjab State Power Corporation Ltd. (hereinafter "PSPCL") for condonation of CO.PET. 204/2003 & CRL.O.(CO.) 15/2015 Page 1 of 6 This is a digitally signed order.
The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 16/09/2023 at 15:30:24 delay of 64 days in filing reply to the Co. Appl. No. 562 of 2020. For the reasons stated in the application, the delay is condoned. The Reply is taken on record. Accordingly, the Application is disposed of. CO.APPL. 754/2011 in CO.PET. 204/2003
3. The present application has been filed by the Applicant Sicom Ltd. seeking permission to carry out a public auction of the assets of the Respondent company in consultation with other secured creditors and Provisional Liquidator.
4. It is submitted by Ms. Sindhwani, ld. Counsel that the factory situated at Patiala in respect of which directions have been sought in the present application has already been auctioned and, thus, the present application is infructuous.
5. In view of the submission made by the ld. Counsel for the OL, the present application is disposed of as infructuous. C.A. .APPL. 1750/2015 in CO.PET. 204/2003
6. This is an application moved by the Official Liquidator (OL) against three persons of the ex-management of the company in liquidation namely Mr. Rajiv Kumar (Respondent 1), Mr. Pankaj Agarwal (Respondent 2) and Mr. Mitter Sain (Respondent 3). By way of the present application, the OL is seeking handing over of all assets, statutory records and books of accounts in respect of the company in liquidation from the said persons. Ld. counsel for the OL submits that, for the time being, she does not press this application.
7. The application is dismissed as withdrawn at this stage. The OL may file an appropriate application, if the need so arises, in future.
CO.PET. 204/2003 & CRL.O.(CO.) 15/2015 Page 2 of 6This is a digitally signed order.
The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 16/09/2023 at 15:30:24 CO.APPL. 3879/2015 in CO.PET. 204/2003
8. This is an application filed by the OL seeking transfer of a suit pending in respect of the property bearing plot no. A-5/B-1, Mohan Cooperative Industrial Estate Badarpur, New Delhi which was earlier pending before the Original Side of this Court and has now been transferred to the District Court, Saket. Considering that the liquidation proceedings are already going on in respect of Bakeman Industries P. Ltd. which is the company in liquidation, it is directed that suit no. CS (OS) No. 1691/2014 titled Hari Impex Pvt. Ltd. V. M/s Bakemans Industries Pvt. Ltd pending before Ld. District and Session Judge (South- East District) shall stand transferred to this Court and be listed along with the present petition.
9. A copy of this order be communicated by the Registry to the Principal District Judge, South-East District, for compliance.
10. Accordingly, application is disposed of.
CO.APPL. 1068/2016 & 1217/2016 in CO. PET. 204/2003
11. These are two applications filed by PSPCL and Ceylon Biscuits Limited.
12. At the request of ld. Counsel appearing for Ceylon Biscuits Limited, due to non-availability of main counsel, these applications are adjourned.
13. List on 5th December, 2023.
CO.APPL. 4991/2016 in CO. PET. 204/2003
14. The present application is filed by Ceylon Biscuits Ltd. for modification and waiver of costs imposed on Ceylon Biscuits Limited vide order dated 27th May, 2016. Vide the said order, costs of Rs.22,000/- was imposed for filing of a reply to C.A.No.1068/2016. Considering that there has been a significant amount of delay in the adjudication of this matter, and CO.PET. 204/2003 & CRL.O.(CO.) 15/2015 Page 3 of 6 This is a digitally signed order.
The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 16/09/2023 at 15:30:24 reply has now been filed. The costs are waived and application is disposed of.
CO.APPL. 1253/2019 in CO. PET. 204/2003
15. This application has been filed by Parle Products Limited seeking transfer of a suit pending before the Madras High Court to this Court to be heard with the present petition.
16. Ms. Sindhwani, ld. Counsel seeks an adjournment to obtain instructions in respect of the claim of Parle Products Limited.
17. Accordingly, list on 5th December, 2023.
CO.APPL. 562/2020 in CO. PET. 204/2003
18. The present application has been filed by Pioneer Securities Pvt Ltd. for issuance of appropriate directions to PSPCL for enhancement of power load from existing 15 KVA to 400 KVA.
19. PSPCL has already filed its reply to the application. Ms. Preeti Gupta, ld. Counsel, may obtain the electronic copy of the Court record to enable her to assist the Court on the next date of hearing.
20. List on 5th December, 2023.
CO.APPL. 411/2023 in CO. PET. 204/2003
21. The present application has been filed by the OL seeking permission to sell the goodwill of the Company (In Liqn.) i.e., BAKEMAN'S, in terms of the valuation report submitted by 'Crest Capital Group Pvt. Ltd.' advisors. On the last date, the Court had directed that a comprehensive report be furnished after considering the value of the intangible assets. The Valuer is stated to have submitted a justification for valuing the BAKEMAN'S brand at Rs.20 lakhs.
22. The brand and logo being intangible assets ought not to be CO.PET. 204/2003 & CRL.O.(CO.) 15/2015 Page 4 of 6 This is a digitally signed order.
The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 16/09/2023 at 15:30:24 undervalued and proper valuation ought to be obtained. The valuation of the brand depends on a large number of factors including the reputation, long user, statutory rights owned, goodwill and common law rights etc., In this view of the matter, this Court deems it appropriate to direct the OL to obtain a fresh valuation from one of the established Consulting Firms such as PwC, KPMG, Deloitte, or E&Y, or other similar firms after obtaining a competitive quote, from them.
23. List on 5th December, 2023.
CO. PET. 204/200324. Mr. Prabhat Chaurasia, ld. Counsel appearing for Sicom Ltd. submits that the entire loan has been assigned by Sicom Ltd., to Pioneer Securities Pvt. Ltd., thus, Sicom Ltd. does not hold any interest in this transaction.
25. He, further, submits that the details of Pioneer Securities Pvt. Ltd. has already been provided to OL.
26. Mr. Chaurasia, ld. Counsel submits that Sicom Ltd., has also received a notice of default and, thus, the said notice be discharged.
27. In view of the submissions made, that the loan itself has been assigned and Sicom does not have any interest in the same, the notice of default is discharged.
28. List on 5th December, 2023.
CRL.O.(CO.) 15/2015
29. This a petition filed by the OL seeking action against the Management/Ex-Directors for having defaulted in filing the statement of affairs.
30. This petition was filed in July, 2015 and since then the factory, etc., of the company have all been sold and some records, etc. have already been CO.PET. 204/2003 & CRL.O.(CO.) 15/2015 Page 5 of 6 This is a digitally signed order.
The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 16/09/2023 at 15:30:24 obtained by the OL. Accordingly, this petition is disposed of at this stage with liberty to the OL to revive the same if the need arises. The Directors/ ex-Management shall continue to provide assistance to the OL as and when sought.
PRATHIBA M. SINGH, J.
SEPTEMBER 1, 2023 dj/Rahul/sk/ks CO.PET. 204/2003 & CRL.O.(CO.) 15/2015 Page 6 of 6 This is a digitally signed order.
The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 16/09/2023 at 15:30:24