In this application, the applicant sought a refund of Rs. 5 lakhs deposited earlier to show bona fides. The court dismissed the Notice of Motion, ruling that the company is in liquidation and the funds must be held by the Official Liquidator.
Notice of Motion for refund of Rs. 5 lakhs dismissed.
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IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION
NOTICE OF MOTION NO.283 OF 2015
IN
APPEAL NO.653 OF 2014 IN COMPANY APPLICATION NO.586 OF 2014 IN COMPANY PETITION NO.376 OF 2002
M/s.Sundeep Polymers (P) Limited Applicant
In the matter of :
M/s.Sundeep Polymers (P) Ltd. Appellant versus M/s.Bhansali Eng. Polymers Limited Respondent
Mr.Dilip Nivatia, Director of Applicant in person for Applicant. Mr.B.N.Shukla i/by N.V.Shukla for Respondent.
CORAM : MOHIT S. SHAH, C.J. AND B.P.COLABAWALLA, J.
DATE : 4 March 2015
PC :
The Notice of Motion is taken out by M/s.Sundeep Polymers (P) Limited. The Motion is taken out in an appeal which was filed by the Applicant against an order or winding-up dated 20 August 2013 of the learned Company Judge directing
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to wind-up the Applicant herein. The appeal came to be dismissed by order dated 11 November 2014. The appellant/applicant was given liberty to file an application for review or to take out any other appropriate proceedings.
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amount of Rs.5 lakhs to the applicant (in liquidation). The Notice of Motion is dismissed.
(CHIEF JUSTICE)
(B.P.COLABAWALLA, J.)
MST
1 issue framed by the court
Whether a sum of Rs. 5 lakhs deposited by a company is refundable when the company has already been ordered to be wound-up and an Official Liquidator has taken possession of its properties.
M/s. Sundeep Polymers (P) Limited
M/s. Bhansali Eng. Polymers Limited
MOHIT S. SHAH
B.P. COLABAWALLA
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
