State Bank of India Vs United Breweries (Holdings)… — Company and Corporate | Karnataka HC (2026)

State Bank of India Vs United Breweries (Holdings)… — Company and Corporate | Karnataka HC (2026)

What the court decided

AI extract

Outcome

Liberty reserved to file a proper application accompanied by vakalatnama and signature of the authorized person.

Issue for consideration

Whether the Official Liquidator should be directed to furnish a statement of tenants/lessees occupying the premises of UBHL with details of rents and other incomes collected, dividends collected on behalf of UBHL and amounts realised from sale of UBHL assets, and to disburse 90% of rents, future rents, dividends, sale proceeds and other income to the applicants. +1 more

Court's answer

Company Application No. 22 of 2020 is dismissed.

Ratio / Principle

Since CA No.22/2020 is dismissed, there would be no requirement to file a rejoinder.

Key takeaways

Liberty is reserved to the applicants to file a proper application accompanied by vakalatnama and signature of the authorized person.ratio¶59

Detailed headnote1 paragraphs

Company Application No. 22 of 2020 in Company Petition No. 162 of 2013 — United Breweries (Holdings) Limited (in liquidation) — application by State Bank of India, Bank of Baroda, Corporation Bank, Federal Bank, IDBI Bank, Indian Overseas Bank, Jammu and Kashmir Bank, Punjab and Sind Bank, Punjab National Bank, UCO Bank, United Bank of India and JM Financial Asset Reconstruction Co. Pvt. Ltd. under Section 151 CPC read with Rule 9 of the Company (Court) Rules, 1959, praying for directions to the Official Liquidator to furnish a statement of tenants/lessees of UBHL premises with details of rents and other incomes collected, dividends collected on behalf of UBHL and amounts realised from sale of UBHL assets, and to disburse 90% of such rents, future rents, dividends, sale proceeds and other income to the applicants — HELD: application dismissed; in view of the dismissal no rejoinder was required; liberty reserved to file a proper application accompanied by vakalatnama and signature of the authorized person. (High Court of Karnataka, Suraj Govindaraj J., 20 February 2026)

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NC: 2026:KHC:10868 CA No. 22 of 2020 In COP No. 162 of 2013

HC-KAR

IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 20^TH DAY OF FEBRUARY, 2026

BEFORE

THE HON'BLE MR. JUSTICE SURAJ GOVINDARAJ

COMPANY APPLICATION NO. 22 OF 2020

IN

COMPANY PETITION NO. 162 OF 2013

BETWEEN:

STATE BANK OF INDIA

A BANKING CORPORATION CONSTITUTED UNDER THE STATE BANK OF INDIA ACT, 1955 (23 OF 1955), HAVING ITS CORPORATE CENTRE AT STATE BANK BHAVAN, MADAME CAMA ROAD, NAIRMAN POINT, MUMBAI-400 021,

Digitally signed by SHWETHA RAGHAVENDRA Location: HIGH COURT OF KARNATAKA

AND HAVING ITS INDUSTRIAL FINANCE BRANCH AT STRESSED ASSET MANAGEMENT BRANCH, 2^ND FLOOR, OFFICE COMPLEX BUILDING, LOCAL HEAD OFFICE COMPOUND, #65, ST. MARKS ROAD, BANGALORE-560 001.

BANK OF BARODA A BODY CORPORATE UNDER THE BANKING COMPANIES (ACUQUISITION AND TRANSFER OF UNDERTAKING) ACT, 1970 (5 OF 1970), HAVING ITS HEAD OFFICE AT BARODA HOUSE, P.B.NO.506, MANDAVI, VADODARA-396 006.

ACTING THROUGH ITS BRANCH OFFICE AT P O BOX 11745, SAMATA BUILDING, CENTRAL BHOSALE MARG, NARIMAN POINT, MUMBAI-400 121.

2 - NC: 2026:KHC:10868 CA No. 22 of 2020 In COP No. 162 of 2013

HC-KAR

CORPORATION BANK A BODY CORPORATE UNDER THE BANKING COMPANIES (ACQUISITION AND TRANSFER OF UNDERTAKING) ACT, 1980 (40 OF 1980) HAVING ITS CORPORATE OFFICE AT MANGALADEVI TEMPLE ROAD, PANDESHWAR, MANGALORE-575 001.

AND HAVING ITS INDUSTRIAL FINANCE BRANCH AT RALLARAM MEMORIAL BUILDING, 1^ST FLOOR, CSI COMPOUND, MISSION ROAD, BENGALURU-560 027.

THE FEDERAL BANK LIMITED A COMPANY WITHIN THE MEANING OF THE COMPANIES ACT, 1956, HAVING ITS REGISTERED OFFICE AT FEDERAL TOWERS, ALUVA, KERALA-683 101.

AND HAVING ITS BRANCH OFFICE AT ST. MARKS ROAD, 9, HALCYON COMPLEX, ST. MARKS ROAD, BANGALORE-560 001.

IDBI BANK LIMITED A COMPANY INCORPORATED UNDER THE COMPANIES ACT 1956, AND A BANKING COMPANY WITHIN THE MEANING OF THE BANKING REGULATION ACT 1949, HAVING ITS HEAD OFFICE AT IDBI TOWER, WTC COMPLEX, CUFFE PARADE, MUMBAI-400 005, MAHARASHTRA, INDIA.

AND ACTING THROUGH ITS BRANCH OFFICE AT CORPORATE BANKING GROUP-FAMG 9^TH FLOOR, IBDI TOWER WTC COMPLEX, CUFFE PARADE, COLABA, MUMBAI-400 005.

3 - NC: 2026:KHC:10868 CA No. 22 of 2020 In COP No. 162 of 2013

HC-KAR

INDIAN OVERSEAS BANK A BODY CORPORATE UNDER THE BANKING COMPANIES (ACQUISITION AND TRANSFER OF UNDERTAKING) ACT, 1970 HAVING ITS CENTRAL OFFICE AT 763, ANNA SALAI, CHENNAI-600 002.

AND ITS BRANCH OFFICE AT ‘HARIKRIPA’, 26-A, S.V.ROAD, SANTACRUZ (W), MUMBAI-400 054.

JAMMU AND KASHMIR BANK LIMITED A BANKING COMPANY INCORPORATED UNDER THE PROVISIONS OF THE JAMMU AND KASHMIR COMPANIES ACT NO. XI OF 1977 (SAMVAT) HAVING ITS REGISTERED OFFICE AT CORPORATE HEADQUARTER, MAULANA AZAD ROAD, SRINAGAR, KASHMIR-190 001.

AND ITS BRANCH OFFICE AT SYED HOUSE, 124, S.V. SAVARKAR MARG, MAHIM (WEST), MUMBAI-400 016.

PUNJAB AND SIND BANK A BODY CORPORATE UNDER THE BANKING COMPANIES (ACQUISITION AND TRANSFER OF UNDERTAKING) ACT, 1980 HAVING ITS HEAD OFFICE AT 21, RAJENDRA PLACE, NEW DELHI-110 008.

AND HAVING AMONGST OTHERS, A BRANCH OFFICE AT J.K.SOMANI BUILDING, BRITISH HOTEL LANE, FORT, MUMBAI-400 023.

PUNJAB NATIONAL BANK A BODY CORPORATE UNDER THE BANKING COMPANIES (ACQUISITION AND TRANSFER OF UNDERTAKING) ACT, 1970, (5 OF 1970)

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NC: 2026:KHC:10868 CA No. 22 of 2020 In COP No. 162 of 2013

HC-KAR

HAVING ITS HEAD OFFICE AT 7, BHIKAJI CAMA PLACE, NEW DELHI-110 607.

ACTING THROUGH ITS LARGE CORPORATE BRANCH AT CENTENARY BUILDING, 28, M.G.ROAD, BENGALURU-560 001.

UCO BANK A BODY CORPORATE CONSTITUTED UNDER THE BANKING COMPANIES (ACQUISITION AND TRANSFER OF UNDERTAKING) ACT, 1970 AND HAVING ITS HEAD OFFICE AT 10, BTM SARANI, KOLKATA-700 001, WEST BENGAL, INDIA.

AND ITS BRANCH OFFICE AT 1^ST FLOOR, 13/22, K.G.ROAD, BENGALURU-560 009.

UNITED BANK OF INDIA A BODY CORPORATE UNDER THE BANKING COMPANIES (ACQUISITION AND TRANSFER OF UNDERTAKING) ACT, 1970 (5 OF 1970), HAVING ITS HEAD OFFICE AT 11, HEMANTA BASU SARANI, KOLKATA-700 001.

ACTING THROUGH ITS BRANCH OFFICE AT 40, K.G.ROAD, BENGALURU-560 009.

JM FINANCIAL ASSET RECONSTRUCTION CO. PVT. LTD., HAVING ITS REGISTERED OFFICE AT 7^TH FLOOR, CNERGY, APPASAHEB MARATHE MARG, PRABHADEVI, MUMBAI-400 025.

…APPLICANTS (BY SRI. CHINTAN CHINNAPPA, ADVOCATE, M/S. DUA ASSOCIATES)

5 - NC: 2026:KHC:10868 CA No. 22 of 2020 In COP No. 162 of 2013

HC-KAR

AND:

UNITED BREWERIES (HOLDINGS) LIMITED (IN LIQUIDATION) THROUGH THE OFFICIAL LIQUIDATOR ATTACHED TO HIGH COURT OF KARNATAKA, 12^TH FLOOR, RAHEJA TOWERS, BENGALURU-560 001.

…RESPONDENT

(BY SRI. SHRISHAIL NAVALGUND, ADVOCATE)

THIS COMPANY APPLICATION IS FILED UNDER SECTION 151 OF THE CODE OF CIVIL PROCEDURE READ WITH RULE 9 OF THE COMPANY (COURT) RULES, 1959, PRAYING TO DIRECT THE RESPONDENT/OFFICIAL LIQUIDATOR TO PROVIDE A STATEMENT WITH THE LIST OF TENANTS/LESSEES OCCUPYING THE PREMISES BELONGING TO UBHL, INCLUDING THE DETAILS OF THE RENTS AND OTHER INCOMES COLLECTED SO FAR, THE RATE AT WHICH THE RENTS ARE BEING COLLECTED FROM THE TENANTS/LESSEES, A STATEMENT REGARDING THE DIVIDENDS COLLECTED ON BEHALF OF UBHL AND THE AMOUNTS REALISED FROM THE SALE OF ASSETS OF UBHL. CONSEQUENTLY, TO DISBURSE 90% OF THE AMOUNTS REALISED BY WAY OF RENTS FROM THE TENANTS/LESSEES OF UBHL; FUTURE RENTS; DIVIDENDS COLLECTED ON BEHALF OF UBHL; SALE PROCEEDS OF SALE OF ASSETS OF UBHL AND OTHER INCOME COLLECTED ON BEHALF OF UBHL IN FAVOUR OF THE APPLICANTS.

THIS APPLICATION, COMING ON FOR ORDERS, THIS DAY, ORDER WAS MADE THEREIN AS UNDER:

6 - NC: 2026:KHC:10868 CA No. 22 of 2020 In COP No. 162 of 2013

HC-KAR

CORAM: HON'BLE MR. JUSTICE SURAJ GOVINDARAJ

ORAL ORDER

CA No.22/2020 is dismissed. Since, the said CA

No.22/2020 is dismissed there would be no requirement to file rejoinder.

Liberty is however reserved to file a proper application accompanied by vakalatnama and signature of the authorized person.

SD/(SURAJ GOVINDARAJ) JUDGE

HB

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