Allowed

American Express Banking Corp v. Official Liquidator of Acropetal Technologies Limited (in Liqn)

Karnataka HC7 Feb 2024CA/21/2024

Case brief

AI extract

What is this about?

Application filed for extension of time to publish the winding-up order of Acropetal Technologies Limited. The court found a reasonable explanation for the delay and granted a fresh 14-day timeline.

What did the court decide?

Extension of time granted; applicant must take out paper publication within 14 days in Times of India and Prajavani.

American Express Banking Corp Vs Official… — Insolvency and Bankruptcy | Karnataka HC (2024)

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1 - NC: 2024:KHC:5264 CA No. 21 of 2024 IN COP No. 132 of 2013

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IN THE HIGH COURT OF KARNATAKA AT BENGALURU

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DATED THIS THE 7^TH DAY OF FEBRUARY, 2024

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BEFORE

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THE HON'BLE MR JUSTICE ANANT RAMANATH HEGDE COMPANY APPLICATION NO. 21 OF 2024

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COMPANY PETITION NO. 132 OF 2013

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BETWEEN:

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AMERICAN EXPRESS BANKING CORP. A CORPORATION ORGANIZED UNDER THE NEW YORK BANKING LAW, USA HAVING ITS PRINCIPAL OFFICE AT METROPOLITAN SAKET, 7^TH FLOOR, OFFICE BLOCK, DISTRICT CENTRE SAKET, NEW DELHI-110017.

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…APPLICANT (BY SMT ANNAPOORNA S, ADVOCATE FOR APPLICANT)

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AND:

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Digitally signed by BELUR RANGADHAMA NANDINI Location: HIGH COURT OF KARNATAKA

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OFFICIAL LIQUIDATOR OF ACROPETAL TECHNOLOGIES LIMITED (IN LIQN) 'CORPORATE BHAVAN', 12^TH FLOOR, RAHEJA TOWERS,NO. 26-27, M G ROAD, BENGALURU - 560 001.

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…RESPONDENT

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(BY SRI RAGHU HULIKAL, ADVOCATE)

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THIS COMPANY APPLICATION IS FILED UNDER RULE 7 READ WITH RULE 9 OF THE COMPANY (COURT) RULES, 1959 PRAYING TO EXTEND THE TIME FOR PUBLICATION OF THE ORDER OF WINDING UP PASSED BY THIS HON'BLE COURT BY A PERIOD OF 14 DAYS, IN THE INTEREST OF JUSTICE AND EQUITY.

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THIS COMPANY APPLICATION COMING ON FOR ORDERS THIS DAY THE COURT MADE THE FOLLOWING:

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2 - NC: 2024:KHC:5264 CA No. 21 of 2024 IN COP No. 132 of 2013

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ORDER

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CA 21/2024 is filed seeking extension of time to take out paper publication pursuant to the order of winding up.

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This Court has perused the application and also perused the records.

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The company is ordered to be wound up vide order dated 01.12.2023. The applicant states that the copy of the order of winding up was received on 18.12.2023. Under these circumstances, it is claimed that the applicant could not take out paper publication within 14 days as contemplated under Rule 113 of the Company (Court) Rules, 1959.

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This Court having perused the records is of the view that the applicant has made out a case for extension of time. Accordingly, the application is allowed.

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The applicant shall take out paper publication within 14 days from today as contemplated under Rule 113 of the Company (Court) Rules, 1959.

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NC: 2024:KHC:5264 CA No. 21 of 2024 IN COP No. 132 of 2013

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The paper publication shall be made in "Times of

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India" - English daily and "Prajavani", Kannada daily News

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Paper".

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Sd/JUDGE

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brn

American Express Banking Corp v. Official Liquidator of Acropetal Technologies Limited (in Liqn)

Case brief

What is this about?

What did the court decide?

American Express Banking Corp v. Official Liquidator of Acropetal Technologies Limited (in Liqn)

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

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