Dismissed¶92

M/S Gk Ispat v. M/S. Blue Horizon Hotels Pvt. Ltd.

Karnataka HC13 Feb 2026COP/160/2016

Case brief

AI extract

What is this about?

Winding-up petition dismissed for non-prosecution; Companies Act 1956 Ss.433(e)/433(f); S.151 CPC r/w Art.226 Constitution application to restrain alienation of schedule property; G K Ispat v. Blue Horizon Hotels Pvt Ltd; Gaurav Rose Real Estate v. Blue Horizon Hotels Pvt Ltd; COP No.160/2016; COP No.161/2016; CA Nos.389, 390, 391, 392/2024; High Court of Karnataka; Suraj Govindaraj J.; 13.02.2026; NC: 2026:KHC:9228; respondent submission that all payments made accepted; petitioners absent.

What did the court decide?

Being of the opinion that the petitioners were not interested in prosecuting the petitions (there being no appearance and no submissions despite the prior warning), both company petitions stand dismissed for non-prosecution. ¶92

M/S Gk Ispat Vs M/S. Blue Horizon Hotels Pvt. Ltd. — Company and Corporate | Karnataka HC (2026)

What the court decided

AI extract

Outcome

Dismissed

¶92

Issue for consideration

Whether the winding-up petitions should be dismissed for non-prosecution given the petitioners' non-appearance and their failure to respond to the Court's warning of 30.01.2026.

¶91

Court's answer

¶92

Ratio / Principle

The Court accepted the submission made by learned counsel for the respondent (which, per para 91, was that all the payments had been made); this formed part of the reasoning for the dismissal, though the stated ground of dismissal is non-prosecution, not adjudication on the merits of the debt.

¶92

Key takeaways

In view of the dismissal of the petitions, the company applications in CA No.389 of 2024, CA No.390 of 2024, CA No.391 of 2024 and CA No.392 of 2024 are also dismissed.ratio¶96

Detailed headnote1 paragraphs

High Court of Karnataka (Bengaluru), Suraj Govindaraj J., oral order dated 13.02.2026 (NC: 2026:KHC:9228): Company Petitions No.160 and No.161 of 2016, filed under Sections 433(e) and 433(f) of the Companies Act, 1956 by M/s. G K Ispat and M/s. Gaurav Rose Real Estate Private Limited respectively seeking winding up of M/s. Blue Horizon Hotels Pvt Ltd on the ground of inability to pay debts, were DISMISSED FOR NON-PROSECUTION. The Court had warned on 30.01.2026 that the petitions would be dismissed if the petitioners made no submission against the respondent's contention that all payments had been made; the petitioners did not appear. The Court accepted the respondent counsel's submission and recorded the petitioners as not interested in prosecution. The connected Company Applications No.389-392 of 2024 - including applications under Section 151 CPC r/w Article 226 of the Constitution seeking restraint on alienation of, or creation of third-party rights over, the respondent's schedule property, and expeditious disposal - were consequently dismissed. No adjudication on the merits; no quantum stated.

¶1

¶2

NC: 2026:KHC:9228 COP No. 160 of 2016 A/W CA NO.389 of 2024, CA No.392 OF 2024 C/W COP No. 161 of 2016 A/W CA No.390 of 2024, CA No.391 of 2024

¶3

HC-KAR

¶4

IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 13^TH DAY OF FEBRUARY, 2026

¶5

BEFORE

¶6

THE HON'BLE MR. JUSTICE SURAJ GOVINDARAJ

¶7

COMPANY PETITION NO.160 OF 2016

¶8

A/W COMPANY APPLICATION NO.389 OF 2024 COMPANY APPLICATION NO.392 OF 2024

¶9

C/W

¶10

COMPANY PETITION NO.161 OF 2016 A/W COMPANY APPLICATION NO.390 OF 2024 COMPANY APPLICATION NO.391 OF 2024

¶11

IN COP No.160/2016

¶12

BETWEEN:

¶13

Digitally signed by SHWETHA RAGHAVENDRA Location: HIGH COURT OF KARNATAKA

¶14

M/S. G K ISPAT A COMPANY INCORPORATED UNDER THE COMPANIES ACT, 1956 HAVING ITS REGISTERED OFFICE AT N.C. DUTTA SARANI, #2, UNIT #3 4^TH FLOOR, SAGAR ESTATE KOLKATA, WEST BENGAL-700 001 REPRESENTED BY ITS DIRECTOR MR. ROHAN AGARWAL ALSO BRANCH AT: NO.44, BRIGADE BUSINESS SUITE 5^TH FLOOR, T. MARIAPPA ROAD 2^ND BLOCK, JAYANAGAR BENGALURU-560 011.

¶15

…PETITIONER

¶16

(BY SRI. R. SWAROOP ANAND, ADVOCATE [ABSENT])

¶17

¶18

HC-KAR

¶19

NC: 2026:KHC:9228 COP No. 160 of 2016 A/W CA NO.389 of 2024, CA No.392 OF 2024 C/W COP No. 161 of 2016 A/W CA No.390 of 2024, CA No.391 of 2024

¶20

AND:

¶21

M/S. BLUE HORIZON HOTELS PVT LTD HAVING REGISTERED OFFICE AT: NO.172/1, SRINIVAS INDUSTRIAL ESTATE N.S. PALYA, BANERGHATTA ROAD BENGALURU-560 076.

¶22

…RESPONDENT

¶23

(BY SRI. CHANDRASHEKARA REDDY R.A, ADVOCATE)

¶24

THIS PETITION IS FILED UNDER SECTIONS 433(e) AND 433(f) OF THE COMPANIES ACT, 1956, PRAYING TO WINDING UP OF THE RESPONDENT COMPANY UNDER SECTIONS 433(e) AND 433(f) OF THE COMPANIES ACT, 1956 ON THE GROUND OF ITS INABILITY TO PAY DEBTS, ETC.

¶25

IN CA NO.389 OF 2024:

¶26

BETWEEN:

¶27

¶28

ALSO BRANCH AT:NO.44, BRIGADE BUSINESS SUITE 5^TH FLOOR, T. MARIAPPA ROAD 2^ND BLOCK, JAYANAGAR BENGALURU-560 011. … APPLICANT (BY SRI. R. SWAROOP ANAND, ADVOCATE [ABSENT])

¶29

¶30

HC-KAR

¶31

NC: 2026:KHC:9228 COP No. 160 of 2016 A/W CA NO.389 of 2024, CA No.392 OF 2024 C/W COP No. 161 of 2016 A/W CA No.390 of 2024, CA No.391 of 2024

¶32

AND:

¶33

M/S. BLUE HORIZON HOTELS PVT LTD HAVING REGISTERED OFFICE AT: NO.172/1, SRINIVAS INDUSTRIAL ESTATE N.S. PALYA, BANERGHATTA ROAD BENGALURU-560 076.

¶34

…RESPONDENT

¶35

(BY SRI. CHANDRASHEKARA REDDY R.A., ADVOCATE)

¶36

THIS APPLICATION IS FILED UNDER SECTION 151 OF CPC R/W ARTICLE 226 OF THE CONSTITUTION OF INDIA, PRAYING TO RESTRAIN OR INJUNCT THE RESPONDENT HEREIN FROM ALIENATING OR CREATING ANY KIND OF THIRD PARTY RIGHTS OVER THE SCHEDULE PROPERTY BELONGING TO THE RESPONDENT COMPANY PENDING DISPOSAL OF THE PRESENT PETITION, IN THE INTEREST OF JUSTICE AND EQUITY.

¶37

IN CA NO.392 OF 2024:

¶38

BETWEEN:

¶39

M/S. G K ISPAT A COMPANY INCORPORATED UNDER THE COMPANIES ACT, 1956 HAVING ITS REGISTERED OFFICE AT N.C. DUTTA SARANI, #2, UNIT #3 4^TH FLOOR, SAGAR ESTATE KOLKATA, WEST BENGAL-700 001 REPRESENTED BY ITS DIRECTOR MR. ROHAN AGARWAL ALSO BRANCH AT NO.44, BRIGADE BUSINESS SUITE 5^TH FLOOR, T. MARIAPPA ROAD 2^ND BLOCK, JAYANAGAR BENGALURU-560 011.

… APPLICANT

HC-KAR

NC: 2026:KHC:9228 COP No. 160 of 2016 A/W CA NO.389 of 2024, CA No.392 OF 2024 C/W COP No. 161 of 2016 A/W CA No.390 of 2024, CA No.391 of 2024

¶44

(BY SRI. R. SWAROOP ANAND, ADVOCATE [ABSENT])

¶45

AND:

¶46

M/S. BLUE HORIZON HOTELS PVT LTD HAVING REGISTERED OFFICE AT: NO.172/1, SRINIVAS INDUSTRIAL ESTATE N.S. PALYA BANERGHATTA ROAD BENGALURU-560 076.

¶47

…RESPONDENT

¶48

(BY SRI. CHANDRASHEKARA REDDY R.A., ADVOCATE)

¶49

THIS APPLICATION IS FILED UNDER SECTION 151 OF CPC R/W ARTICLE 226 OF THE CONSTITUTION OF INDIA, PRAYING TO HEAR AND DISPOSE OFF THE PETITION AS EXPEDITIOUSLY AS POSSIBLE, IN INTEREST OF JUSTICE AND EQUITY.

¶50

IN COP NO.161/2016

¶51

BETWEEN:

¶52

M/S. GAURAV ROSE REAL ESTATE PRIVATE LIMITED A COMPANY INCORPORATED UNDER THE COMPANIES ACT, 1956 HAVING ITS REGISTERED OFFICE AT NO.9/12 LAL BAZAR STREET MERCHANTILE BUILDING BLOCK-E, 2^ND FLOOR KOLKATTA-700 001 REPRESENTED BY ITS AUTHORISED SIGNATORY MR. ROHAN AGARWAL.

¶53

...PETITIONER

¶54

(BY SRI. R. SWAROOP ANAND, ADVOCATE [ABSENT])

¶55

¶56

HC-KAR

¶57

NC: 2026:KHC:9228 COP No. 160 of 2016 A/W CA NO.389 of 2024, CA No.392 OF 2024 C/W COP No. 161 of 2016 A/W CA No.390 of 2024, CA No.391 of 2024

¶58

AND:

¶59

M/S. BLUE HORIZON HOTELS PVT LTD HAVING REGISTERED OFFICE AT: NO.172/1, SRINIVAS INDUSTRIAL ESTATE N.S.PALYA, BANERGHATTA ROAD BENGALURU-560 076.

¶60

...RESPONDENT

¶61

(BY SRI. CHANDRASHEKARA REDDY R.A., ADVOCATE)

¶62

THIS PETITION IS FILED UNDER SECTIONS 433(e) AND 433(f) OF THE COMPANIES ACT, 1956, PRAYING TO PASS AN ORDER FOR WINDING UP OF THE RESPONDENT COMPANY UNDER SECTIONS 433(e) AND 433(f) OF THE COMPANIES ACT, 1956 ON THE GROUND OF INABILITY OF THE RESPONDENT TO PAY ITS DEBTS TO THE DEBTORS, ETC.

¶63

IN CA NO.390 OF 2024:

¶64

BETWEEN:

¶65

M/S. GAURAV ROSE REAL ESTATE PVT LTD REGISTERED OFFICE AT NO.9/12 LAL BAZAR, MERCHANTILE BUILDING BLOCK-E, 2^ND FLOOR KOLKATTA-700 001.

¶66

… APPLICANT (BY SRI. R SWAROOP ANAND, ADVOCATE [ABSENT])

¶67

AND:

¶68

M/S. BLUE HORIZON HOTELS PVT LTD HAVING REGISTERED OFFICE AT: NO.172/1, SRINIVAS INDUSTRIAL ESTATE N.S.PALYA, BANERGHATTA ROAD BENGALURU-560 076.

...RESPONDENT

HC-KAR

NC: 2026:KHC:9228 COP No. 160 of 2016 A/W CA NO.389 of 2024, CA No.392 OF 2024 C/W COP No. 161 of 2016 A/W CA No.390 of 2024, CA No.391 of 2024

¶73

(BY SRI. CHANDRASHEKARA REDDY R.A., ADVOCATE)

¶74

¶75

IN CA NO.391 OF 2024:

¶76

BETWEEN:

¶77

M/S. GAURAV ROSE REAL ESTATE PVT LTD REGISTERED OFFICE AT NO.9/12 LAL BAZAR, MERCHANTILE BUILDING BLOCK-E, 2^ND FLOOR KOLKATTA-700 001.

¶78

… APPLICANT

¶79

(BY SRI. R SWAROOP ANAND, ADVOCATE [ABSENT])

¶80

AND:

¶81

M/S. BLUE HORIZON HOTELS PVT LTD HAVING REGISTERED OFFICE AT: NO.172/1, SRINIVAS INDUSTRIAL ESTATE N.S.PALYA, BANERGHATTA ROAD BENGALURU-560 076.

¶82

...RESPONDENT

¶83

(BY SRI. CHANDRASHEKARA REDDY R.A., ADVOCATE)

HC-KAR

NC: 2026:KHC:9228 COP No. 160 of 2016 A/W CA NO.389 of 2024, CA No.392 OF 2024 C/W COP No. 161 of 2016 A/W CA No.390 of 2024, CA No.391 of 2024

¶88

THESE PETITIONS ALONGWITH APPLICATIONS, COMING ON FOR ADMISSION, THIS DAY, ORDER WAS MADE THEREIN AS UNDER:

¶89

CORAM: HON'BLE MR. JUSTICE SURAJ GOVINDARAJ

¶90

ORAL ORDER

¶91

This Court vide its order dated 30.01.2026 had categorically observed that if no submissions are made by the petitioners as regards the submission made by the respondent that all the payments have been made, the petitions would be liable to be dismissed for non-prosecution. Today, there is no appearance on the part of the petitioners, and hence, no submissions are made.

¶92

In that view of the matter, accepting the submission made by the learned counsel for the respondent and being of the opinion that the petitioners are not interested in prosecuting the petitions, both the petitions stand dismissed for non-prosecution.

¶93

¶94

HC-KAR

¶95

NC: 2026:KHC:9228 COP No. 160 of 2016 A/W CA NO.389 of 2024, CA No.392 OF 2024 C/W COP No. 161 of 2016 A/W CA No.390 of 2024, CA No.391 of 2024

¶96

In view of dismissal of the petitions, the applications in CA No.389 of 2024, CA No.390/2024, CA No.391 of 2024 and

¶97

CA No.392 of 2024 are also dismissed.

¶98

SD/- (SURAJ GOVINDARAJ) JUDGE

¶99

hkh. List No.: 1 Sl No.: 3

M/S Gk Ispat v. M/S. Blue Horizon Hotels Pvt. Ltd.

Case brief

What is this about?

What did the court decide?

M/S Gk Ispat v. M/S. Blue Horizon Hotels Pvt. Ltd.

Case brief

What is this about?

What did the court decide?

What the court decided

Issues for consideration

Statutes considered

Procedural history

Parties & counsel

Coram

Case details

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