The High Court held that the appeal is not maintainable under section 10F of the Companies Act, 1956 due to the absence of any order passed by the Company Law Board.
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8.COAPPL-10-2016
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IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION
COMPANY APPEAL (LODG.) NO.10 OF 2016 WITH CLB COMPANY APPLICATION NO.178 OF 2015 IN CLB COMPANY PETITION NO.44 OF 2015
Oil Tools International Services Pvt. Ltd. & Ors.
….Appellants
V/s.
ACE Oilfields Supply & Ors. ….Respondents
Mr. Rahul Narichania, senior advocate a/w. Mr. Prathamesh N. Kamat i/b. Yashodhan Gavankar for the appellants. None for the respondents.
CORAM : K.R.SHRIRAM,J DATE : 18th FEBRUARY, 2016
P.C.:-
1 This appeal, in my view, is not maintainable under section 10F
of the Companies Act, 1956. The reason for this is that there is no order passed by the Company Law Board.
2 The counsel for the appellants submits that their grievance is that the Company Law Board is yet to hear and decide the application filed by the appellants and due to delay, they are suffering grave prejudice.
Gauri Gaekwad
2/2 8.COAPPL-10-2016
3 In the order passed on 8th January, 2016, copy whereof is annexed at Exhibit 'A' to the petition, it is stated that on the next date, if the settlement does not fructify, the parties will go on with the matter. The next date is 19th February, 2016, i.e., tomorrow.
4 The counsel for the appellants, on instructions states that this matter is not listed tomorrow and therefore, will not be decided tomorrow.
5 It will not be correct for me to fix the board of Company Law Board. Nevertheless it is open to the applicants to apply to the Company Law Board to fix a date, at its earliest convenience to hear and dispose of the application. If such an application is made, the Company Law Board, naturally will consider the same.
6 The appeal accordingly stands disposed. The company application also stands disposed.
(K.R.SHRIRAM,J)
Gauri Gaekwad
1 issue framed by the court
Whether an appeal under section 10F of the Companies Act, 1956 is maintainable in the absence of an order by the Company Law Board.
1 provisions across 1 enactments
Oil Tools International Services Pvt. Ltd.
ACE Oilfields Supply
K.R.SHRI RAM
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
