Allowed

In the Matter of Mewar Growth Ltd. (in Liqn.) v. Rajasthan Bank Financial Services Ltd.

Calcutta HC2 Mar 2023CP/519/1998

Case brief

AI extract

What is this about?

The High Court held that under the Companies Act, 2013 and recent Supreme Court precedents, it lacks jurisdiction to continue a winding-up proceeding pending for over a decade. The matter and connected applications were transferred to the National Company Law Tribunal.

What did the court decide?

CP/519/1998 and connected applications transferred to National Company Law Tribunal, Kolkata; matter disposed of in this Court's records.

In the Matter of Mewar Growth Ltd. (in Liqn.) Vs… — Insolvency and Bankruptcy | Calcutta HC (2023)

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OD-14

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IN THE HIGH COURT AT CALCUTTA Original Jurisdiction ORIGINAL SIDE

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CP/519/1998

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IA NO: CA/1/1998(Old No:CA/519/1998), CA/4/2009(Old No:CA/403/2009), CA/7/2014(Old No:CA/94/2014)

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IN THE MATTER OF : MEWAR GROWTH LTD. (IN LIQN.) VS

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RAJASTHAN BANK FINANCIAL SERVICES LTD.

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BEFORE:

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The Hon'ble JUSTICE RAVI KRISHAN KAPUR Date : 2^nd March, 2023

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Appearance: Ms. Smita Das De, Adv. …for the O/L

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The Court:- It is submitted on behalf of the Official Liquidator that the

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winding up order has been passed as far back as on 28^th September, 2004. The proceeding has been pending for nearly two decades. The Official Liquidator submits that though initial steps have been taken, there is no irreversible situation which has arisen warranting this Court retaining this proceeding.

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In view of the amended provisions of the Companies Act, 2013 and the decisions in Action Ispat and Power Private Limited-versus-Shyam Metalics and Energy Limited reported in (2021) 2 SCC 641 and in A. Navinchandra Steels Private Limited –versus- Srei Equipment Finance Limited and Others reported in AIR 2021 SC 1180, in my view this Court does not have any jurisdiction to entertain this matter.

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In view of the aforesaid, CP/519/1998 stands transferred to the National Company Law Tribunal, Kolkata.

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The Department shall treat CP/519/1998 as disposed of insofar as the records of this Court are concerned.

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It is needless to mention that all connected applications also stand transferred to the National Company Law Tribunal, Kolkata.

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(RAVI KRISHAN KAPUR, J.)

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TO

In the Matter of Mewar Growth Ltd. (in Liqn.) v. Rajasthan Bank Financial Services Ltd.

Case brief

What is this about?

What did the court decide?

In the Matter of Mewar Growth Ltd. (in Liqn.) v. Rajasthan Bank Financial Services Ltd.

Case brief

What is this about?

What did the court decide?

What the court decided

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