Disposed

Asea Brown Boveri Ltd. v. Bhaveri Starch Ltd.

Bombay HC18 Feb 2005CP/790/2003

Case brief

AI extract

What is this about?

By consent, the court directed the respondent to deposit Rs. 11 Lakhs. If not made, the winding-up petition is admitted and advertised for the petitioner's benefit. If deposited, the petition is dismissed, and the petitioner may file a suit for the claim within four weeks. The amount will be invested in an FDR pending the suit.

What did the court decide?

Respondent to deposit Rs. 11 Lakhs within 12 weeks. On default, petition admitted and advertised; suit to be filed by petitioner within 4 weeks.

Asea Brown Boveri Ltd. Vs Bhaveri Starch Ltd. — Company and Corporate | Bombay HC (2005)

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION

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 COMPANY PETITION NO. 790 OF 2003.

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 In the matter of Section 433 and
 434 of the Companies Act, 1956;

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And

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 In the matter of winding up of
 Bhavari Starch Limited..Company.

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 Asea Brown Boveri Limited. ... Petitioners.

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 Shri B.B.Saraf, with Shri Yogesh Adhia for the
 Petitioner.

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 Shri N. Engineer i/b Legal Associates for the
 respondent company.

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CORAM : S.U.KAMDAR,J

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 DATE: FEBRUARY 18, 2005.

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P.C.:

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 1. By consent of the parties, following order
 is passed.

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 (i) Respondent company to deposit the
 sum of Rs.11 Lakhs in this court within a

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 period of 12 weeks from today.

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 (ii) If the said deposit is not made,

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 petition to stand admitted and the same

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 will be made returnable on 15th July,
 2005. The petitioner will be advertised
 in Free Press Journal, Nav Shakti and
 Maharashtra Government Gazette at the cost
 of the petitioner. The petitioner shall,
 in addition, deposit Rs.2,000/- with the
 Prothonotary and Senior Master for
 publication of advertisement.

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 (iii) In the event, if such deposit is
 made, petition to stand dismissed and the
 petitioner to file suit in respect of the
 claim arising in the present petition
 within a period of 4 weeks from the date
 of communication of such deposit by the
 respondent company’s advocate to the
 petitioner’s advocate.

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 (iv) If such suit is filed,
 Prothonotary and Senior Master to invest
 the amount so deposited by the respondent
 company in fixed deposit initially for a
 period of 3 years in any nationalised bank
 and renew the same from time to time till
 disposal of the suit. If such suit is not
 filed, petitioner is at liberty to

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 withdraw the said amount thereafter.

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 (v) Petition is disposed of

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 accordingly. There shall be no order as

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 to costs.

Asea Brown Boveri Ltd. v. Bhaveri Starch Ltd.

Case brief

What is this about?

What did the court decide?

Asea Brown Boveri Ltd. v. Bhaveri Starch Ltd.

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

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