This order dismissed a company petition for winding up and appointment of a provisional liquidator. The court held the earlier sale proceedings order became infructuous after the winding-up order was recalled.
Recalled order dated 09.01.2007 attempting to effect sale; dismissed current petition.
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.
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IN THE HIGH COURT OF KARNATAKA AT BANGALORE DATED THIS THE 17TH DAY OF JANUARY 2013
BEFORE
THE HON’BLE MR. JUSTICE L. NARAYANA SWAMY
COMPANY PETITION NO. 08/1980
BETWEEN:
State Bank of India, A body Corporate Constituted By the State Bank of India Act, 1955, having its Central Office at Bombay and having among other places, A Branch Office At J.C. Road, Bangalore – 560 002 Represented by Branch Manager.
... PETITIONER
(BY M/s King & Partridge, Advs.)
AND:
Hegde and Golay Limited A Company registered under the Companies Act 1956, having its Registered Office at “Shreeshyala” 8th Mile, Kanakapura Road, Bangalore- 560 011, represented by Its Chairman and Managing Director Sri. B.T. Shankar Hegde
…RESPONDENT
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This company petition is filed under Section 439(1) (b) read with Sections 433(e) and (f) and 434 of the Companies Act, 1956, for winding-up of respondent company and for appointment of a provisional Liquidator to take charge of the effects and properties of the respondent company and etc.,
This company petition is coming on for orders this day, the court made the following:
O R D E R
This petition has come in the orders list for non compliance of the order dated 09.01.2007. By the said order, Official Liquidator was permitted to sell the property of the respondent company and further to take out the paper publication to effect the sale of company’s property.
petitioner company in Company Application No. 324/2007 for recalling the order of winding and this Court by its order dated 19.09.2009 has recalled the order of winding up dated 27.02.1985.
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sale proceedings have not been effected to and hence the learned counsel for the applicant submits that the order dated 09.01.2007 has become infructuous.
Sd/-
JUDGE
HR
2 issues framed by the court
Whether the order permitting sale of properties dated 09.01.2007 became infructuous after the winding-up order was recalled.
Whether provisional liquidator can be appointed to take charge of effects when winding up is recalled.
2 provisions across 1 enactments
State Bank of India
Hegde and Golay Limited
L. Narayana Swamy
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
