Managing Director Vs
Case brief
What is this about?
The Madras High Court dismissed the wound-up company petition for non-prosecution. It held the Board was abolished, the petitioned company was not registered, and no one appeared for the petitioner.
What did the court decide?
The Company Petition was dismissed for non-prosecution.
What the court decided
1
IN THE HIGH COURT OF JUDICATURE AT MADRAS
(ORIGINAL JURISDICTION)
Friday, the 6th day of August 2021
THE HON'BLE MR.JUSTICE R.SUBRAMANIAN
Comp.Petn.No.45 of 2014
In the matter of the Companies Act, 1956 and In the matter of winding of M/s. Suman Synthetics Ltd.,
B.I.F.R., New Delhi Rep. By its Registrar
... Petitioner
Vs.
- Managing Director, M/s. Suman Synthetics Ltd., 3-A Pologround, Udaipur, 313 001.
- Secretary, Dept. of Industries, Govt. of Rajasthan, Jaipur.
- The MD & CEO ICICI Bank Ltd. ICICI Bank Towers, Bandra Kurla Complex, Bandra (E), Mumbai 400 051.
Issues for consideration
3 issues framed by the court
Whether a winding-up petition filed under Section 20(1) of the Sick Industrial Companies (Special Provisions) Act 1985 should be dismissed for lack of prosecution when the impugned company is not regi
Whether the Court can proceed when the Petitioner (Board) has been abolished.
Whether a company registered as Private Limited can represent the Public Limited company named in the petition.
Parties & counsel
- petitioner
BIFIR (Board for Industrial and Financial Reconstruction)
- respondent
Managing Director, M/s. Suman Synthetics Ltd.
- respondent
Secretary, Dept. of Industries, Govt. of Rajasthan
- respondent
ICICI Bank Ltd.
- respondent
UCO Bank
- respondent
Case details
As recorded by the court registry
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