Partly allowed

M/S. Apple Industries Ltd. v. Mikado Textile Industriesltd.

Bombay HC18 Sept 2008CP/588/1996

Case brief

AI extract

What is this about?

The High Court made three company petitions for winding up against Mikado Textile Industries Ltd. absolute, citing the company's non-appearance and lack of reply since 1997. The Court also dismissed a fourth petition as redundant.

What did the court decide?

Company petitions 141/97 and 538/97 made absolute for winding up; Company petition 588/96 dismissed as redundant.

M/S. Apple Industries Ltd. Vs Mikado Textile… — Insolvency and Bankruptcy | Bombay HC (2008)

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY PETITION NO.141/1997 Tata Finance Ltd. PETITIONER VS.

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Mikado Textile Industries Ltd. RESPONDENT

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WITH COMPANY PETITION NO.588/96

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M/s Apple Industries Ltd. PETITIONER Vs.

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Mikado Textile Industries Ltd. RESPONDENT

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WITH COMPANY PETITION NO.538/97 Budhrani Finance Ltd. PETITIONER Vs.

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Mikado Textile Industries Ltd. RESPONDENT

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Mr.Parvez Bapuna i/b M/s Wadia Gandhy & Co.for petitioner in CP 141/97 Mrs.Vandana D.Jaisingh for the petitioner in CP 538/97 None for respondent

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CORAM : S.A.BOBDE , J. DATE : 18^th SEPTEMBER,2008.

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P.C.

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1] These company petitions have been pending since 1997 in this Court.They were admitted by an order dated 5.6.2008. The company has not appeared in these proceedings . 2] In C.P.no.141/97 the petitioner has claim of Rs.27,94,516.22Ps. Though statutory notice was duly served ,it is without any compliance . Hence the petition .

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3] There is no change in circumstances since the admission of the petition. The company has not appeared. In other petition i.e.C.P.538/97 the petitioner has made claim of Rs.20,38,889/-. In this

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matter also though the matters are pending in this Court since 1997 and though the petitions were admitted on 5.6.2008 there is no reply and none appears on behalf of the Company . Hence,the petitions i.e.141/97 and 538/97are made absolute in terms of prayer clause A and B in both the matters which read as follows.

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[A] ''That the company Mikado Textile Industries Ltd. be ordered to be wound up by an order and under the directions of this Hon'ble Court, as per provisions of the Companies Act,1956''.

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[B] That the official liquidator,High Court ,Bombay or some other fit and proper person be appointed as official liquidator of the Assets of the Company ,with all

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necessary powers under the Companies Act to take charge of the said assets and to conduct its affairs in the course of winding up and to distribute its assets, in accordance with law''.

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4] Since the company has been directed to be wound up in Company Petition no.141/97 and 538/97 , the petitioner may make its claim before the Official Liquidator . No reason to entertain Company Petition no.588/96. Hence dismissed.

M/S. Apple Industries Ltd. v. Mikado Textile Industriesltd.

Case brief

What is this about?

What did the court decide?

M/S. Apple Industries Ltd. v. Mikado Textile Industriesltd.

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

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Coram

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