Held that a company petition for recovery was to be dismissed as the dispute between parties was settled before liquidator appointment. Clarified that dismissal does not affect the liquidator's appointment or other pending proceedings.
Petition dismissed; liquidator's appointment and other pending proceedings remain unaffected.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
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IN THE HIGH COURT OF JUDICATURE AT BOMBAY O.O.C.J. COMPANY PETITION NO. 947 OF 1997 In the matter of winding of the Plasmettronics Pvt.Ltd. Mr. Kantilal C. Jain. ... Petitioner.
Mr. Kantilal C. Jain.
Ms. Nita Solanki i/b. Kiran Jain for the Petitioners. Mrs. K.V. Gautam, Dy. O.L.
CORAM : DR. D.Y.CHANDRACHUD,J.
05th April 2007.
P.C. :
A conditional order was passed on 9th June
| . 1998 |
directing |
the |
Respondent |
to |
deposit an |
amount | |
|---|---|---|---|---|---|---|---|
| of | Rs.58,000/- | in | this Court. |
The Petitioner |
was | ||
| to | file | a |
Civil | Suit for |
the |
recovery of |
the |
| aforesaid | amount | upon whi |
ch the |
amount |
deposited | ||
| was | to | abide |
by |
the result |
of the |
Suit. In |
the |
| event | that th |
e dep |
osit was |
not | made, the |
Petition | |
| was | to | stand | admitted. | The |
Court | has been |
informed |
| that | immediately | a | fter the |
order | dated 9th |
June | |
| 1998, | the | dispute | between | the | parties was |
settled. | |
| It | appears | that | another |
Company | Petition | (bearing | |
| No.548 | of 1 |
999) | has been |
admitte | d against the |
same |
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| Company | and | the | Prov | isional | Liquidator | has | been |
|---|---|---|---|---|---|---|---|
| appointed | on |
21st | June | 20 | 02 in C |
ompany | Application |
| 655 | of 2000. |
S |
ince | the | dispute in |
this case |
has |
| been | settled | before | the | aforesaid | events | took | |
| place, | Counsel | appear | ing | on | behalf | of | the |
| Petitioner | has stated that the | Petitioner | is no |
longer interested in pursuing the Petition.
proceedings that may be pursued in respect of the
said Company in other pending matters.
3 issues framed by the court
Whether to dismiss a company petition for recovery that has become moot due to settlement but not technically expired.
Whether dismissal of the petition affects the appointment of the Liquidator.
What directions should be given regarding pending proceedings in the company.
1 provisions across 1 enactments
Mr. Kantilal C. Jain
Plasmettronics Pvt.Ltd.
Dr. D.Y. Chandrachud
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
