The High Court of Bombay dismissed the company appeal, holding that the Company Law Board retained jurisdiction over the matter. The appeal was set aside and remanded to the Company Law Board to consider the company petition entirely on its merits.
Impugned order dated 26.3.2015 set aside; matter remanded to Company Law Board.
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COAPP38.15-4
1
IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION
COMPANY APPEAL NO.38 OF 2015
IN CLB COMPANY PETITION NO.21 OF 2014 WITH COMPANY APPLICATION NO.36 OF 2015 IN COMPANY APPEAL NO.38 OF 2015 IN
CLB COMPANY PETITION NO.21 OF 2014
Transcheme Ltd.
….Applicant/Appellant
V/s.
Firstcorp International Ltd. & Ors.
....Respondents
Mr.Iqbal Chagla, Sr.Advocate with Mr.Riyaz Chagla, Mr.Zal Andhyarujina, Mr.Hursh Meghani, Mr.Neerav Merchant, Mr.Bharat Merchant and Mr.Ishwar Ahuja i/by Thakordas Madgavkar for the applicant/appellant.
Mr.C.S.Gupta with Mr.Rajesh Chaudhary i/by RKC Legal for the respondents.
CORAM : K.R.SHRIRAM,J DATE : 2.12.2015
P.C.:-
1 The learned Senior Counsel appearing for the applicant/appellant as well as learned Counsel for the respondents were heard. But after some time the counsel for the respondents, in fairness, stated that the Company Law board will have jurisdiction and the matter be remanded back to Company Law Board for hearing on merits. In view thereof, the order and judgment dated 26.3.2015 impugned in this appeal is set aside. The matter is
KJ
2 COAPP38.15-4
remanded back to Company Law Board to consider the Appeal No.21 of 2014 entirely on its own merits. The rights and contentions of the parties are kept open.
2 Company Law Board to hear and decide Company Application No.29 of 2014 after hearing and disposal of Company Appeal No.21 of 2014.
by the Associate of this Court.
(K.R.SHRIRAM,J)
KJ
COAPP38.15-4
3
CERTIFICATE
Certified to be true and correct copy of the original signed Judgment/Order.
KJ
Transcheme Ltd.
Firstcorp International Ltd.
K.R.SHRIRAM
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
