Disposed

M/S Sontara Organo Industries v. M/S Arch Pharmalabs Ltd. Cin No. U24231MH1993PLC150891

Bombay HC13 Jul 2018CP/226/2016

Case brief

AI extract

What is this about?

The High Court of Bombay disposed of multiple company petitions. It granted withdrawal leaves for some petitions. For others where no petitioner appeared or instructions were pending, it recorded submissions regarding payment status and adjourned or marked for dismissal for want of prosecution.

What did the court decide?

Withdrawal allowed for some petitions; adjournment granted or directions issued for dismissal for want of prosecution for others.

M/S Sontara Organo Industries Vs M/S Arch Pharmalabs… — Company and Corporate | Bombay HC (2018)

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3.CP572.13.doc

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

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COMPANY PETITION NO.572 OF 2013

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JM Financial Asset Reconstruction Company Ltd. )….Petitioner V/s. M/s.Arch Pharmalabs Ltd. )....Respondent

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WITH COMPANY PETITION NO.33 OF 2014 COMPANY PETITION NO.109 OF 2014 WITH COMPANY APPLICATION NO.148 OF 2014 IN COMPANY PETITION NO.33 OF 2014 WITH COMPANY PETITION NO.232 OF 2014 COMPANY PETITION NO.671 OF 2014 COMPANY PETITION NO.760 OF 2014 COMPANY PETITION NO.848 OF 2014 COMPANY PETITION NO.991 OF 2014 COMPANY PETITION NO.141 OF 2015 COMPANY PETITION NO.266 OF 2015 COMPANY PETITION NO.418 OF 2015 WITH COMPANY APPLICATION NO.728 OF 2015 IN COMPANY PETITION NO.109 OF 2014 COMPANY PETITION NO.119 OF 2016 WITH COMPANY APPLICTION NO.214 OF 2016 IN COMPANY PETITION NO.572 OF 2013 WITH COMPANY PETITION NO.226 OF 2016 WITH COMPANY APPLICATION NO.282 OF 2016 IN COMPANY PETITION NO.572 OF 2013 COMPANY PETITION NO.336 OF 2016 COMPANY PETITION NO.621 OF 2016

3.CP572.13.doc

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Mr.Rohit Gupta a/w Ms.Ishita Advani I/by Desai & Diwanji for petitioner in CP 572/2013.

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Mr.Yazdi P.Jijina a/w Ms.K.R.Daviervala I/by M/s.Mulla & Mulla and Craigie blunt and Caroe for peeitioner in CP 991/2014.

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Mr.Niraj Shah I/by Siddharth Murarka for petitioner in CP 418/2015. Ms.Archana Deshmukh I/by Singhania and Co. for petitioner in CP 226/2016.

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Mr.Anrush Bansde for petitioner in CP 336/2016.

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None for petitioner in CP 33/2014, CP 109/2014, CP 232/2014, CP 671/2014, CP 760/2014, CP 848/2014, CP 141/2015, CP 266/2015, CP 119/2016 and CP 621/2016.

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Ms.Tasneema Zariwala I/by Vidhi Partners for respondent company. Mr.Saurabh Thakkar I/by Malvi Ranchoddas and Co. for respondent no.2 in CP No.572/2013.

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CORAM : K.R.SHRIRAM,J DATE : 13.7.2018

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P.C.:-

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COMPANY PETITION NO.991 OF 2014 COMPANY PETITION NO.226 OF 2016 COMPANY PETITION NO.418 OF 2015

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Counsel appearing for petitioner in these petitions seek

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leave to withdraw these petitions. Since there are other petitions pending, these petitions are allowed to be withdrawn and accordingly dismissed.

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2 COMPANY PETITION NO.336 OF 2016

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Mr.Anrush Bansde appearing for petitioner states that

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about 60% of the petitioners' claim as per the Memorandum of

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3/4 3.CP572.13.doc

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Understanding entered into with the company, has been paid without default. Mr.Bansde states that he will take instructions whether petitioner would be inclined to withdraw this petition and file fresh petition in the appropriate forum in case there is a default by the company.

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3 COMPANY PETITION NO.119 OF 2016

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Nobody is present in court. Ms.Tasneema Zariwala for respondent company states out of Rs.24 lakhs, Rs.19 lakhs has been paid as per the Memorandum of Understanding and the company willl be honouring its commitments. On the next date if nobody is present for petitioner, the petition may get dismissed for want of prosecution.

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4 COMPANY PETITION NO.760 OF 2014

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Nobody is present in court. Ms.Tasneema Zariwala for respondent company states out of Rs.60 lakhs, Rs.27 lakhs has been paid as per the Memorandum of Understanding and the company willl be honouring its commitments. On the next date if nobody is present for petitioner, the petition may get dismissed for want of prosecution.

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COMPANY PETITION NO.572 OF 2013 WITH COMPANY PETITION NO.33 OF 2014 COMPANY PETITION NO.109 OF 2014 WITH COMPANY APPLICATION NO.148 OF 2014 IN CP NO.33 OF 2014 WITH COMPANY PETITION NO.232 OF 2014 COMPANY PETITION NO.671 OF 2014 COMPANY PETITION NO.848 OF 2014 COMPANY PETITION NO.141 OF 2015 COMPANY PETITION NO.266 OF 2015 WITH COMPANY APPLICATION NO.728 OF 2015 IN CP 109 OF 2014 COMPANY PETITION NO.119 OF 2016 WITH COMPANY APPLICTION NO.214 OF 2016 IN CP NO.572 OF 2013 WITH COMPANY APPLICATION NO.282 OF 2016 IN CP NO.572 OF 2013 COMPANY PETITION NO.621 OF 2016

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Mr.Gupta states that J.M.Financial Asset Reconstruction Company Limited has taken over the rest of the petitioners' claim and seeks one week adjournment to take instructions whether J.M.Financial Asset Reconstruction Company Limited having restructured the company's facility, would be inclined to withdraw these petitions with liberty to file fresh petitions in the appropriate forum on a fresh cause of action.

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Stand over to 20.7.2018 for directions/dismissal.

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(K.R.SHRIRAM,J)

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M/S Sontara Organo Industries v. M/S Arch Pharmalabs Ltd. Cin No. U24231MH1993PLC150891

Case brief

What is this about?

What did the court decide?

M/S Sontara Organo Industries v. M/S Arch Pharmalabs Ltd. Cin No. U24231MH1993PLC150891

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

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Coram

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