The single judge allowed the company application for leave to file a recovery suit against the respondent company and guarantors regarding a default under a corporate loan agreement.
Leave to file a suit for recovery against the respondent company and others was allowed.
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.
40.ca.789.2015.doc
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IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION
COMPANY APPLICATION NO.789 OF 2015 IN
COMPANY PETITION NO. 408 OF 2013
IFCI Factors Ltd. ...Applicant. In the matter between MLJ Capital Services Ltd. ...Petitioner
vs M/s Glodyne Ventures & Holding Pvt. Ltd. ...Respondent.
Ms Anubha Rastogi for the Applicant. Ms Yogini Chauhan, Asstt. OL present.
CORAM : S.C. GUPTE, J.
OCTOBER 08, 2015
P.C. :
This application seeks leave to file a suit for recovery against the company and others. The Applicant has a claim against the respondent company under a corporate loan agreement. There are also guarantors for this loan. The Applicant seeks to file a recovery suit, both against the company as the principal borrower and the guarantors on account of failure to repay the loan. The company application is allowed in terms of prayer clause (a).
( S.C.GUPTE J. )
Pg 1 of 2
40.ca.789.2015.doc
CERTIFICATE
Certified to be true and correct copy of the original signed Judgment/ Order.
Pg 2 of 2
1 issue framed by the court
Whether leave to file a suit for recovery against the borrower and guarantors was to be granted.
IFCI Factors Ltd.
MLJ Capital Services Ltd.
M/s Glodyne Ventures & Holding Pvt. Ltd.
S.C. GUPTE
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
