Workmen's union of a company in liquidation sought directions for settlement of admitted workmen dues. Respondents agreed to settle; the court referred the parties to mediation, failing which the assets are to be sold by the Official Liquidator.
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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. 28 OF 2023
IN
COMPANY PETITION NO. 44 OF 2001
BETWEEN:
ALPHA PRECISIOIN COMPONENTS KARMIKARA SANGHA, A TRADE UNION REGISTERED UNDER THE PROVISIONS OF THE TRADE UNIONS ACT, 1923, HAVING ITS OFFICE AT NO.18/A, 2ND MAIN, JYOTHI LAYOUT, JARAGANA HALLI, J.P.NAGAR POST, BENGALURU - 560 078. REPRESENTED BY ITS GENERAL SECRETARY SRI V. VENAKTARAMANAPPA.
…APPLICANT
Digitally signed by BELUR RANGADHAMA NANDINI Location: HIGH COURT OF KARNATAKA
(BY SRI ADITHYA SONDHI, SR. COUNSEL A/W SRI DHARMESHA, ADVOCATE) AND:
NO.18, RAJA RAJESWARI, ORDER DATED 100 FEET RING ROAD, 3RD PHASE, 5TH BLOCK, 03.11.2023 BSK 3RD STAGE, BENGALURU-560085.
…RESPONDENTS
(BY MR.S.S. NAGANAND, SENIOR ADVOCATE A/W MS.SHRIRAJA S, ADVOCATE FOR R1 TO R4 SRI K S MAHADEVAN, ADVOCATE FOR OL)
THIS COMPANY APPLICATION IS FILED UNDER SECTION 529 A OF THE COMPANIES ACT, 1956 READ WITH RULE 6 AND 9 OF THE COMPANIES (COURT) RULES, 1959 PRAYING TO DIRECT THE RESPONDENT NO.1 TO 4 (APPLICANTS IN RFA NO.1806/2019) TO SETTLE THE ENTIRE DUES OF THE WORKMEN AS ADMITTED BY THE OFFICIAL LIQUIDATOR AS PER SETTLED LIST OF CREDITORS IN FORM NO.71 FILED BEFORE THIS HON'BLE COURT IN OLR 491/2007 AND ETC.
THIS COMPANY APPLICATION COMING ON FOR ORDERS THIS DAY THE COURT MADE THE FOLLOWING:
ORDER
for respondents No.1 to 4, who claim to be the owners of the property in question, submits that earlier there was an attempt to settle the dispute, through mediation, and the mediation failed as the Karnataka State Financial Corporation (for short 'KSFC') the respondent No.13 in the present application raised a claim for Rs.119,41,26,368/- which is far excess than the KSFC's claim admitted by the Official Liquidator.
NC: 2024:KHC:6338 CA No. 28 of 2023 IN COP No. 44 of 2001
subject matter of that appeal. The application is dismissed permitting the Official Liquidator to proceed with the auction subject to certain conditions. He would further submit that the KSFC has filed CA No.264/2023 seeking permission to stand outside winding up proceeding to recover the dues of KSFC. However, he would submit that if the sale takes place in a transparent manner, by the Official Liquidator the KSFC will cooperate for sale of the property and KSFC's due is to be paid from the sale proceeds. Thus it is submitted that the property be put for auction.
the bar and also perused the records.
Company. Since the respondents No.1 to 4 claiming to be the owners of certain properties, have come forward to settle the dues, mediation is one of the other options available to settle the dispute.
ORDER
List this matter on 06.03.2024.
Sd/JUDGE
GVP
2 provisions across 2 enactments
Alpha Precision Components Karmikara Sangha (Trade Union)
Sri Y V Nanjundappa
Sri Y N Jayarama Reddy
Sri A Mohan Kumar
Sri A Suresh
M/s Alpha Industrial Complex
Anant Ramanath Hegde
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
