This judgment dismisses five company applications filed by M/s. Astral Glass Pvt. Ltd. seeking to recall ex-parte winding-up orders. The applications were rejected because the applicant failed to deposit the mandated security of Rs. 10,00,000/- within the extended deadline.
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I N THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION
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COMPANY APPLICATION NO. 256 OF 2010
IN
COMPANY PETITION NO. 739 OF 2006.
M/s. Astral Glass Pvt. Ltd. ..Applicant/ Org. Respondent.
v/s. Shri Amritlal T. Shah. ..Respondent/ Org. Petitioner.
WITH
COMPANY APPLICATION NO. 259 OF 2010 IN
COMPANY PETITION NO. 159 OF 2009.
M/s. Astral Glass Pvt. Ltd. ..Applicant/ Org. Respondent.
v/s. M/s. Trendy Spot Wears & Anr. ..Respondent/ Org. Petitioner.
WITH
COMPANY APPLICATION NO. 257 OF 2010
IN
COMPANY PETITION NO. 511 OF 2007.
M/s. Astral Glass Pvt. Ltd. ..Applicant/ Org. Respondent.
v/s.
M/s. Rajesh Nandalal. ..Respondent/ Org. Petitioner.
WITH
COMPANY APPLICATION NO. 258 OF 2010
IN
COMPANY PETITION NO. 586 OF 2007.
M/s. Astral Glass Pvt. Ltd. ..Applicant/ Org. Respondent.
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v/s. M/s. Classic Company. ..Respondent/ Org. Petitioner.
WITH
COMPANY APPLICATION NO. 264 OF 2010 IN COMPANY PETITION NO. 16 OF 2007.
M/s. Astral Glass Pvt. Ltd. ..Applicant/ Org. Respondent.
v/s. M/s. Naveen Corporation. ..Respondent/ Org. Petitioner.
Mr. B.K. Ashok, i/b. Bekay Legal, for Applicant in all C.As. Mr. D.A. Dube, i/b. B. Vaishnawa & Co., for Respondent in C.A.No. 258/2010.
Mr. Sushant Chavan, i/b. Shiralkar & Co., for Respondent No. C.A. No. 259/2010.
Deputy Official Liquidator, present.
CORAM : S.J. KATHAWALLA, J. DATE : 2nd SEPTEMBER 2010.
P.C.
By the above Company Applications, the Applicant M/s. Astral Glass Private Limited has prayed that the ex-parte order of winding up dated 26th March 2010 passed by this Court, be recalled and set aside and the Applicant be allowed to serve the Respondent and proceed with the hearing of the Company Petition
Nos. 739 of 2006, 159 of 2009, 511 of 2007, 586 of 2007 and 16
of 2007.
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passed an order dated 11th June 2010, allowing the Applicant to establish its bonafides by depositing atleast Rs.10,00,000/- on or before 1st July 2010. This Court also directed that until further orders, the Company and its Directors/Officers shall not dispose of, alienate, encumber, part with possession of or create any third party right, title and/or interest in respect of the assets of the Company. However the Applicant has failed to deposit the said amount of Rs.10,00,000/- on or before 1st July 2010. By an order dated 14th July 2010, one more opportunity was given to the Applicants to deposit the said amount of Rs.10,00,000/- on or before 31st July 2010. However, the Applicants have not deposited the said amount till date.
Applications are dismissed.
3 issues framed by the court
Whether the applicant's Company Applications for recalling ex-parte winding-up orders should be dismissed due to failure to deposit the required security amount.
What are the consequences of the applicant's repeated failure to comply with the court order to deposit Rs. 10,00,000/-.
Should the direction restraining the company and its directors from disposing of assets be lifted pending the outcome of the application.
M/s. Astral Glass Pvt. Ltd.
Shri Amritlal T. Shah
M/s. Trendy Spot Wears & Anr.
M/s. Rajesh Nandalal
M/s. Classic Company
M/s. Naveen Corporation
S.J. Kathawalla
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
