Disposed

M/S. C.D. Security Services Network Ltd. v. the Official Liquidaor of M/S. Trident Steels Limited and 6 Others

Bombay HC30 Sept 2013CA/654/2012

Case brief

AI extract

What is this about?

Company application disposed following recording of decision to appoint CD Safety and Security Services Pvt. Ltd. as new security agency; applicants discharged; inquiry ordered on residence of directors of proposed agencies.

What did the court decide?

CD Safety and Security Services Pvt. Ltd. appointed as new security agency; Applicant discharged; Official Liquidator to file explanation within two weeks regarding directors' residence and necessity

M/S. C.D. Security Services Network Ltd. Vs the… — Company and Corporate | Bombay HC (2013)

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

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COMPANY APPLICATION NO. 654 OF 2012 IN

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COMPANY PETITION NO. 360 OF 2012

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M/s. C.D. Security Services Network Ltd., … Applicant. And Integrated Finance Company Ltd., ... Petitioner. V/s. The Official Liquidator of M/s. Trident Steel Ltd. (in Liquidation) and others. … Respondents. ---

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Ms. Molina Thakur for the Applicant.

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Mr. Dinesh Mishra i/by K. Ashar & Co. for Respondent No.2. Mr. Sham Walve i/by AKS Legal Consultants for Respondent No.3. Mr.Sharath Pai for Respondent No.7.

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Ms. Yogini Chauhan, Assistant to Official Liquidator, is present.

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CORAM : N. M. JAMDAR, J. DATE : 30 SEPTEMBER, 2013

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P.C. :

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1 By order dated 27^th August, 2013, the statement of the learned counsel for the parties that in a meeting it was decided to appoint a new agency was recorded and the matter was kept today.

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2 The learned counsel for the parties state that they have selected CD Safety and Security Services Pvt. Ltd., as the new security agency. The official liquidator will follow the procedure for appointment of the said security agency. The security agency

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will commences its work from 3^rd October, 2013. The applicant is discharged.

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3 On the last date of hearing, the composition of the Directors as regards the two agencies i.e. CD Safety and Security Services Pvt. Ltd., and CD Security Services Network Ltd. was sought. The memorandum and articles of association of both security agencies have been placed on record. From the perusal thereof, it appears that the Directors of the CD Security Services Network Ltd., (erstwhile Agency) are residing either at New Delhi, Ludhiana and Kerala and that none of the Directors are stationed in Mumbai. The official liquidator will file an explanation as to whether it is advisable for the official liquidator to appoint such agencies, none of whose Directors reside within the jurisdiction of the official liquidator and whether their residence and office in Mumbai is necessary for effective control over these security agencies. The explanation shall be filed within a period of two weeks from today.

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4 The learned counsel for the respondent no. 7 states that the Debt Recovery Tribunal has commenced the process for disposal of the property.

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5 No further orders are necessary. The company application is disposed of in above terms.

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(N.M.JAMDAR,J.)

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M/S. C.D. Security Services Network Ltd. v. the Official Liquidaor of M/S. Trident Steels Limited and 6 Others

Case brief

What is this about?

What did the court decide?

M/S. C.D. Security Services Network Ltd. v. the Official Liquidaor of M/S. Trident Steels Limited and 6 Others

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

Case details

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