Appeal against the admission of a company petition for recovery was dismissed in limine. The High Court found no merit in the plea of limitation and accepted that the company's defense was not bona fide.
Appeal dismissed in limine with no order for pass
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1
IN THE HIGH COURT OF JUDICATURE OF BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
APPEAL NO.912 of 2005
IN
COMPANY PETITION NO. 939 OF 2004
Mafatlal Finance Company Limited .. Appellant
versus
Gujrat State Financial Corporation .. Respondents
...
Mr.F.E.D’vitre, Senior Counsel i/b M/s.R.K.
Associates for the Appellant.
Mr.Mahendra Rathod i/b Mr.U.M.Zaveri for the
Respondent.
CORAM : R.M. LODHA AND
D.G. KARNIK, JJ
DATED : 22nd November 2005.
P.C.:
Heard Mr.F.E. D’vitre, the learned Senior
Counsel for the appellant.
2. We also perused the order dated 15th
September 2005 whereby the learned Company Judge has
admitted the Company Petition and ordered that
Company Petition be advertised in the two newspapers
as directed and in the Maharashtra Government
2
Gazette.
3. The liability of the Company is huge and it
cannot be said that the claim of the Corporation has
become time barred. Article 137 of the Limitation
Act 1963 upon which strong reliance was placed by the
learned Senior Counsel has no application.
4. We are in concurrence with the observation
of the learned Single Judge that the defence of the
Company in opposition to the Company Petition is not
bonafide.
5. Prima facie, there is no merit in the plea
of limitation.
6. Thus, no interference is called for in the
impugned order. Appeal is dismissed in limine.
(R.M. LODHA, J)
(D.G. KARNIK, J)
3 issues framed by the court
Whether the plea of limitation is meritorious?
Whether the defence of the company is bona fide?
Whether interference with the impugned order is called for?
1 provisions across 1 enactments
Mafatlal Finance Company Limited
Gujrat State Financial Corporation
R.M. LODHA
D.G. KARNIK
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court