A winding-up petition challenging share valuation and buyout was dismissed as there is no further role for the High Court since the Supreme Court is adjudicating the matter.
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* IN THE HIGH COURT OF DELHI AT NEW DELHI
RONAK SEKHRI & ORS. ..... Petitioners Through Mr.Kshitij Bhardwaj, Adv.
versus
GAUTAM OVERSEAS LTD. & ORS. ..... Respondents Through Mr.Sumit Narang and Mr. Sohrab Singh Mann, Advs. for R-2. Mr. Arunabh Chowdhury and Mr. Vaibhav Tomar, Advs. for R-3.
CORAM: HON'BLE MR. JUSTICE JAYANT NATH
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O R D E R 08.02.2019
Mukul Mudgal, Former Judge Chief Justice of Punjab and High Court so appointed by the Supreme Court, the value of the two properties owned by respondent No. 1 was found to be Rs. 271 crores and it was then, that respondent No. 2 took a stand given the value of the property that it would not be possible to buy the shares of the petitioners and that it would be appropriate that the property be sold out. The process is being carried out under the supervision of the Supreme Court.
JAYANT NATH, J
FEBRUARY 08, 2019 rb
1 issue framed by the court
Whether the High Court must proceed with a winding-up petition when the Supreme Court is already seized of the valuation and buyout of shares in the same company.
1 provisions across 1 enactments
RONAK SEKHRI & ORS.
GAUTAM OVERSEAS LTD.
JAYANT NATH
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
