Allowed

M/S. Vardhman Polytex Limited v. M/S Vir Retail Pvt. Ltd.

Karnataka HC8 Nov 2023COP/159/2014

Case brief

AI extract

What is this about?

The High Court of Karnataka, after the petition was admitted in 2015 and advertisement was published but the respondent failed to pay, allowed the company petition. The court ordered the winding up of the respondent company, appointed an official liquidator, and directed the petitioner to deposit tentative costs.

What did the court decide?

The respondent company M/s Vir Retail Pvt. Ltd. is ordered to be wound up; Official Liquidator appointed; Petitioner to deposit 15,000/- as tentative costs.

M/S. Vardhman Polytex Limited Vs M/S Vir Retail Pvt… — Company and Corporate | Karnataka HC (2023)

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NC: 2023:KHC:40207 COP No. 159 of 2014

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IN THE HIGH COURT OF KARNATAKA AT BENGALURU

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DATED THIS THE 8^TH DAY OF NOVEMBER, 2023

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BEFORE

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THE HON'BLE MR JUSTICE C.M. POONACHA COMPANY PETITION NO. 159 OF 2014

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BETWEEN:

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Digitally signed by BHARATHI S Location: HIGH COURT OF KARNATAKA

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M/S. VARDHMAN POLYTEX LIMITED HAVING ITS REGISTERED OFFICE AT 341K-1,MUNDIAN KHURD P.O. SAHABANA, CHANDIGARH ROAD, LUDHIANA-141123 HAVING ITS UNIT NAMELY AMKRYON INTERNATIONAL SITUTATED AT H.B.22, PHASE VI,FOCAL POINT, LUDHIANA ,PUNJAB

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(BY SRI V GANGABAI &.,ADVOCATE)

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…PETITIONER

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AND:

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M/S VIR RETAIL PVT. LTD, REGISTERED OFFICE AT NO.107 GROUND FLOOR,INDUSTRIAL SUBURB 2ND STAGE,GURUGUNTAPALYA, YESHWANTHPUR, BANGALORE

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…RESPONDENT

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(BY SRI. LAWYERS INC.,ADVOCATE)

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THIS COMPANY PETITION IS FILED U/S 433[E] AND [F], 434 R/W SECTION 439 OF THE COMPANIES ACT, 1956, PRAYING TO WIND UP THE RESPONDENT COMPANY, NAMELY M/S VIR RETAIL PRIVATE LIMITED, UNDER THE PROVISIONS OF SECTION 433[E] AND [F], R/W SECTION 434, 439 AND OTHER RELATED PROVISIONS OF THE COMPANIES ACT, 1956 AND ETC.

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THIS PETITION, COMING ON FOR FINAL HEARING, THIS DAY, THE COURT MADE THE FOLLOWING:

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2 - NC: 2023:KHC:40207 COP No. 159 of 2014

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ORDER

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Counsel for the petitioner and respondent are present.

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The above petition was admitted on 17.7.2015 and

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the advertisement to be taken out by the petitioner with regard to admission of the winding up proceedings was also ordered on the same day. Consequent to the same, advertisement has been taken out as directed by this Court and vide memo filed on 7.8.2015 the paper publication taken out by the petitioner has been placed on record, which is in compliance of the order of this Court.

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Despite the above matter being admitted and the

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advertisement having been taken, the respondent has not made payment to the petitioner.

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In view of the aforementioned, the following order

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is passed:

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ORDER

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i. The company petition is allowed;

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ii. The respondent – company viz., M/s Vir Retail Pvt. Ltd., is ordered to be wound up;

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3 - NC: 2023:KHC:40207 COP No. 159 of 2014

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iii. The Official Liquidator attached to the High Court of Karnataka is appointed as Liquidator of the respondent – company;

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iv. The petitioner shall deposit a sum of `15,000/- with the Official Liquidator attached to this Court being the tentative costs of liquidation within four weeks from today;

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v. Registrar of Companies to be notified of this order.

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Sd/JUDGE

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List No.: 1 Sl No.: 107

M/S. Vardhman Polytex Limited v. M/S Vir Retail Pvt. Ltd.

Case brief

What is this about?

What did the court decide?

M/S. Vardhman Polytex Limited v. M/S Vir Retail Pvt. Ltd.

Case brief

What is this about?

What did the court decide?

What the court decided

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