The Calcutta High Court dismissed the suit by Hitech Engineering Corporation India Private Ltd. against Calstar Sponge Ltd., holding that keeping the suit pending served no purpose after the NCLT dissolved the plaintiff company.
Suit dismissed; defendant liberty to withdraw bank account.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
OD-8
ORDER SHEET IN THE HIGH COURT AT CALCUTTA Ordinary Original Civil Jurisdiction ORIGINAL SIDE
CS/100/2012 IA NO: GA/1/2012 (Old No:GA/711/2012)
HI-TECH ENGINEERING CORPORATION INDIA PVT. LTD. VS
CALSTAR SPONGE LTD. & ANR.
BEFORE:
The Hon'ble JUSTICE KRISHNA RAO Date: 14TH March, 2023.
Appearance: Ms. Vaibhavi Pandey, Adv. ..for the respondent.
The Court: Counsel for the defendant is present.
None appears on behalf of the plaintiff.
Counsel for the defendant has handed over the copy of the order passed by the National Company Law Tribunal, Mumbai Bench, Court II in IA No. 830 of 2021 in TCP No. 908/IBC/NCLT/MB/MAH/2017 dated 23rd December, 2021 wherein the following order is passed:
ORDER
The Application be and the same is allowed, as follows:
Counsel for the plaintiff submits that as the plaintiff company is dissolved by the order of the learned Tribunal and as such the suit is to be dismissed.
Considering the prayer made by the Counsel for the defendant, perused the order dated 23rd December, 2021 passed by the learned Tribunal this Court finds that no purpose would be served to keep the suit pending.
Accordingly, CS No. 100 of 2012 is dismissed.
Interim order, if any, stands vacated.
Interlocutory application, if any, is also stand dismissed.
The copy of the order dated 23rd December, 2021 be kept with the record.
As the suit has been dismissed, the defendant is liberty to withdraw the bank account.
(KRISHNA RAO, J.)
Sbghosh
2 issues framed by the court
Whether the High Court can dismiss the suit after the corporate debtor was dissolved by the NCLT.
Whether bank accounts of the dissolved entity should be vacated.
HI-TECH ENGINEERING CORPORATION INDIA PVT. LTD.
CALSTAR SPONGE LTD.
KRISHNA RAO
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
