Dismissed

M/S.Balaji Knit Fashions v. M/S.Pinky Enterprises Private

Madras HC7 Aug 2023CP/131/2014

Case brief

AI extract

What is this about?

The High Court of Madras dismissed a Company Petition for the winding up of the respondent company as infructuous. The court noted that the underlying dispute had already been settled by a compromise judgment recorded in another suit, rendering the current winding-up petition unnecessary.

What did the court decide?

The Company Petition filed under the Companies Act, 1956 for the winding up of the respondent company was dismissed as infructuous due to a prior compromise.

M/S.Balaji Knit Fashions Vs M/S.Pinky Enterprises… — Insolvency and Bankruptcy | Madras HC (2023)

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Company Petition No.131 of 2014

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IN THE HIGH COURT OF JUDICATURE AT MADRAS

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DATED: 07.08.2023

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CORAM:

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THE HON'BLE MR. JUSTICE ABDUL QUDDHOSE

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Company Petition No.131 of 2014

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M/s. Balaji Knit Fashions, Rep. by its Proprietor, K.S. Senthilkumar, No.54/174, Sri Venkateswara 2^nd Street, Valayangadu, Gandhi Nagar Post, Tiruppur – 641 603.

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... Petitioner

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Vs.

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M/s. Pinky Enterprises Private Limited, Rep. by its Director, Giorgio Borzino, No.67, Saravanalayaom Sakthi Nagar, Ramanathapuram, Coimbatore – 641 045. ... Respondent

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Prayer : Company Petition filed under Sections 433(E)(F), 434(I)(A), 439(I)(B) of the Companies Act, 1956 r/w. Rules 95 of the Companies Act (Court Rules) 1956, praying to wind up the respondent Company M/s. Pinky Enterprises Private Limited, No.67, S aravanalayaom Sakthi Nagar, Ramanathapuram, Coimbatore – 641 045, under the provisions of the Companies Act, 1956, to appoint an Official Liquidator, Madras as the Liquidator of the Company and to pay the cost of this petition to the petitioner.

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https://www.mhc.tn.gov.in/judis

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Company Petition No.131 of 2014

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For petitioner : No appearance For respondent : Mr.Rajaji, for M/s.Iyer & Thomas

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ORDER

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It is brought to the notice of this Court by the learned counsel for the respondent that pursuant to the admission of this Company Petition, an appeal was filed by the respondent in O.S.A.No.148 of 2018. He would submit that in the said appeal, a compromise has been entered into between the petitioner and the respondent and in terms of the said compromise, O.S.A.No.148 of 2018 was disposed of. A copy of the compromise judgment dated 17.03.2021 has also been placed on record by the learned counsel before this Court.

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2. Since the parties have compromised the dispute amongst themselves, which has been recorded by the judgment of this Court dated 17.03.2021 in O.S.A.No.148 of 2018, nothing survives for adjudication in this Company Petition.

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https://www.mhc.tn.gov.in/judis

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Company Petition No.131 of 2014

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3. Recording the submission of the learned counsel for the respondent as well as the judgment of this Court dated 17.03.2021 passed in O.S.A.No.148 of 2018, this Company Petition is dismissed as infructuous.

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07.08.2023

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Index: Yes/ No Speaking/Non-speaking order Internet: Yes/No

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Sni

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Giorgio Borzino, Director, M/s. Pinky Enterprises Private Limited, No.67, Saravanalayaom Sakthi Nagar, Ramanathapuram, Coimbatore – 641 045.

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https://www.mhc.tn.gov.in/judis

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3/4

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Company Petition No.131 of 2014

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ABDUL QUDDHOSE, J.

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Sni

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Company Petition No.131 of 2014

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07.08.2023

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https://www.mhc.tn.gov.in/judis

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M/S.Balaji Knit Fashions v. M/S.Pinky Enterprises Private

Case brief

What is this about?

What did the court decide?

M/S.Balaji Knit Fashions v. M/S.Pinky Enterprises Private

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

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