The applicant, Karnataka State Financial Corporation, filed a company application seeking directions for re-calculation of dues from the respondent companies. The applicant subsequently expressed unwillingness to prosecute the application.
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IN THE HIGH COURT OF KARNATAKA AT BENGALURU
DATED THIS THE 14TH DAY OF FEBRUARY, 2024
BEFORE
THE HON'BLE MR JUSTICE ANANT RAMANATH HEGDE COMPANY APPLICATION NO. 12 OF 2024
IN
COMPANY APPLICATION NO. 264 OF 2023
IN
COMPANY PETITION NO. 44 OF 2001
BETWEEN:
M/S KARNATAKA STATE FINANCIAL CORPORATION, HEAD OFFICE, HP AND FS DEPARTMENT, NO.1/1, THIMMAIAH ROAD, BENGALURU - 560 001, REP BY IS SENIOR MANAGER (TECH).
…APPLICANT
(BY SRI G S KANNUR, SR. COUNSEL A/W SRI VINAY KUMAR G S, ADVOCATE)
AND:
Digitally signed by BELUR RANGADHAMA NANDINI
Location: HIGH COURT OF KARNATAKA
…RESPONDENTS (BY SRI K S MAHADEVAN, ADVOCATE FOR OL)
NC: 2024:KHC:6337 CA No. 12 of 2024 IN CA No. 264 of 2023 IN COP No. 44 of 2001
THIS COMPANY APPLICATION IS FILED UNDER RULE 164 OF THE COMPANIES (COURT) RULES, WITH RULE 6 AND 9 OF COMPANIES (COURT) RULES 1959 PRAYING TO DIRECT THE 1ST RESPONDENT TO RE-CONSIDER THEIR CALCULATION IN ACCORDANCE WITH THE LETTER DT: 27.07.2023 (ANNEXURED) SHOWING THE DUES OF THE APPLICANT AS RS.119,41,26,368.00 (RS.ONE HUNDRED NINETEEN CRORES FORTY ONE LAKHS TWENTY SIX THOUSAND THREE HUNDRED AND SIXTY EIGHT ONLY) AS ON 31.03.2023 ALONG WITH FUTURE INTEREST, AS FAR AS N.C.D FACILITY DUES ARE CONCERNED AND AN AMOUNT OF RS.24,43,04,795.00 (TWENTY FOUR CRORES FORTY THREE LAKHS FOUR THOUSAND SEVEN HUNDRED AND NINETY FIVE ONLY) AS FAR AS TERM LOANS ARE CONCERNED AS ON 31/03/2023 ALONG WITH FUTURE INTEREST.
THIS COMPANY APPLICATION COMING ON FOR ORDERS THIS DAY THE COURT MADE THE FOLLOWING:
ORDER
for the applicant would submit that the applicant in CA No.12/2024 does not wish to prosecute the application.
Registry within a week.
dismissed as withdrawn .
GVP
Sd/JUDGE
1 issue framed by the court
Whether the Company Application should be allowed to direct re-calculation of dues?
2 provisions across 2 enactments
M/S Karnataka State Financial Corporation
M/S Alpha Precision Components (P) Ltd.
State Bank of India
Anant Ramanath Hegde
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
