Dismissed

Iscon Builders v. Baral Industries

Orissa HC18 Jul 2024CMPAT/13/1994

Case brief

AI extract

What is this about?

The High Court directed the petitioner to approach the National Company Law Tribunal for redressal of its grievance regarding the provision of Section 434(c) of the Companies Act, 2013 (and its predecessor), allowing for liberal condonation of delay.

What did the court decide?

Petitioner directed to approach the National Company Law Tribunal for redressal with liberal condonation of delay.

Iscon Builders Vs Baral Industries — Company and Corporate | Orissa HC (2024)

¶1

IN THE HIGH COURT OF ORISSA AT CUTTACK CMPAT No.13 of 1994

¶2

ISKON Builders Private Limited …. Petitioner

¶3

Represented By Adv. Mr. B.P. Mohanty

¶4

-versus-

¶5

Baral Industries …. Opposite Parties Represented By Adv. Mr. R. Roy

¶6

CORAM:

¶7

DR. JUSTICE S.K. PANIGRAHI

ORDER

Order

18.07.2024

No.

1 . . This matter is taken up through hybrid arrangement.

¶14

2 . During course of hearing, learned counsel for the Opposite Parties brings to the notice of this Court to the Provision under Section 434(c) of the Companies Act, 2013 and submits that the Petitioner should have approached the National Company Law Tribunal for redressal of its grievance.

¶15

3 . The Provision under Section 434(c) of the Companies Act, 2013 is extracted herein below:-

“XXX

Page 1 of 2

// 2 //

(c) all proceedings under the Companies Act, 1956 (1 of 1956), including proceedings relating to arbitration, compromise, arrangements and reconstruction and winding up of companies, pending immediately before such date before any District Court or High Court, shall stand transferred to the Tribunal and the Tribunal may proceed to deal with such proceedings from the stage before their transfer:

¶20

Provided that only such proceedings relating to the winding up of companies shall be transferred to the Tribunal that are at a stage as may be prescribed by the Central Government:

¶21

XXX”

¶22

4 . Considering the submissions made and the provision as quoted above, this Court directs the Petitioner to approach the National Company Law Tribunal for redressal of its grievance. It is directed that the delay, if any, in the approach of the Petitioner shall be condoned liberally.

¶23

5 . Accordingly, the CMPAT is disposed of.

¶24

(Dr. S.K. Panigrahi)

¶25

Judge

¶26

Sumitra

¶27

Signature Not Verified

¶28

Digitally Signed Signed by: SUMITRA NAYAK Designation: Jr. Stenographer Reason: Authentication Location: High Court of Orissa, Cuttack Date: 19-Jul-2024 18:16:09

¶29

Page 2 of 2

Iscon Builders v. Baral Industries

Case brief

What is this about?

What did the court decide?

Iscon Builders v. Baral Industries

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

Coram

Case details

Similar cases

Kanhu Charan Pradhan Vs Insurance Regulatory and Development Authority of India, Hyderabad

Sarangadhar Panigrahi Vs State of Odisha

Nikhila Utkal Gruhar Vs State

M/S.Paras Oil Vs M/S.Ipinit Vanaspati

M/S.Nagpur Engg.Co Vs M/S.Ipinit

M/S.Paras Fats Vs M/S.I.Vanaspati