Dismissed

Rep. by Bifr.. v. M/s. Terrygold (India) Ltd.

Telangana HC14 Oct 2024RCC/1/2013

Case brief

AI extract

What is this about?

The court dismissed a writ petition and a reference to suspend orders dated 30-01-2013 and 08-10-2014 by BIFR and AAIFR as infructuous, since the petitioner company was admitted to the Corporate Insolvency Resolution Process (CIRP) on 11-03-2023.

What did the court decide?

Both R.C.C. No. 1 of 2023 and W.P. No. 11230 of 2015 were dismissed as infructuous due to admission to CIRP.

Rep. by Bifr.. Vs M/s. Terrygold (India) Ltd. — Company and Corporate | Telangana HC (2024)

¶1

IN THE HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD

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MONDAY ,THE FOURTEENTH DAY OF OCTOBER TWO THOUSAND AND TWENTY FOUR

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PRESENT

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THE HONOURABLE JUSTICE MOUSHUMI BHATTACHARYA

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REFERRED COMPANY CASE NO:^'l OF 2013

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AND

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WRIT PETITION NO. 11230 oF 2015

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R.C.C. NO. 1 0F 2013

¶9

Between:

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Represented by BlFR.., -

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...PETITIONER

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AND

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1 The Managing Director.M/s. Terrygold (lndia) Ltd.,4th Floor, H.N.6-2-966/51.1 Hill Colony, Khairatabad, Hyderabad - 500 004 Andhra pradesh

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2 Joint Sececretary, Commerce & lnds. Deptt., Govt. of Andhra pradesh,

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Hyderabad

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The Chairman & MD, lDBl IDB'l Tower, Cuffe^parade, Mumbai-400 005

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The Regional Directo-r, ESlC Regional Office, ESI Corporation Rajendra Place New Delhi- 1 10 008

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The Central Provident Fund, Commissioner, HUDCO Vishala, 14. Bhikaji Cama Place, New Delhi 110 088

¶19

President, Terrygold (lndia) Workers Union (HMS), Peddakaparthy Village, Chityal Mandal, Nalgond Distt, (Andhra Pradesh)

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Jeevan.Das Lalji_{!-o1, H.No. 10-3-5644, Plot No.^'175. East Marred pailay. Secunderabad - 500026 .

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B. Office gf Dgprlly Commissioner, (Central Excise) Natgonda Range. Hyderabad lll Division.

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Stressed Assets Stabilisation Fund (SASF), lDBl Tower, 1Oth floor WIC Complex, Mumbai-40O 005,

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Manager & Chief Executive Officer, Deutsche bank Hazarimal Somani Marg, Fort, Mumbai.

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1 1. Chief Secretary, Govt of Andhra Pradesh Hyderabad- 500 022

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'l2.Resident Commissioner, Govt. of Andhra Pradesh Andhra Bhawan l. Ashoka Road New Delhi

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The Commissioner, Customs and Central Excise Hyderabad^(A.P.)

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Director General of Foreign Trade^(DGFT), M/o Commerce and^lndustry Udyog Bhawan, New Delhi -110 01'1

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15.TVS Finance & Services Ltd., No.1, Jayalakshmi Estate No.B,^Haddows, Road Chennai - 6

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Senior Vice President, ASREC^(lndia) Ltd.^(An Asset Reconstruction Co.) UTI Tower, Gn Block, Bandra(E.) Bandra Kurla Complex, Mumbai^-51

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...RESPONDENTS

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The Bench of the Board for lndustrial and Financial Reconstruction consisting of Shri B.S Meena, Chairman and Shri J.P.Dua, member^{has recorded} an opinion under Section 20(1) of the said Act that it is^just and equitable that^M/s Tenygold (lndia) Ltd , should be wound up Vide Order dated 30-01-2013.

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Counsel for the Petitioner: REFERRED BY BIFR

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Counsel for the RespondentNo.l : SRI L. VENKATESHWAR RAO

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Counsel for the Respondent No. 8 : SRI BATHULA RAJKIRAN(SC FOREXCISE&CUSTOMS)

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WRIT PETITION NO: 1'1230 OF 2015

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Between:

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M/s. Terrygold (lndia) Limited, A company incorporated under the Companies Act, '1956, having rts registered Office at 4th Floor, H.N.6-2-966/5/1 , Hill Colony, Khairatabad, Hyderabad- 500004 Represented by its Managing Director, Sri SSR Kishen, S/o. Sri R. R Singh Aged 70 years, resident of Hyderabad.

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...PETITIONER

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AND

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The Appellate Authority for lndustrial and Financial Reconstruction (AAIFR), 1Oth Floorleevart Prakash, 25. Kasturba Gandhi Marg, New Delhi - 110 001.

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Board for lndustrial & Financial Reconstruction., (BIFR). Jawahar Vyapar Bhawan, Tolstoy Marg, New Delhi

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lDBl, lDBl Tower, Cuffe Parade, Mumbai- 400 005. Represented by its Chairman and MD.

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Stressed Assets Stabilisation Fund (SASF), lDBl, Tower, 10th Floor, WTC Complex, Mumbat- 400 005

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ASREC (lndia) Ltd.. (Asset Reconstruction Co.), UT1 Tower, G Block, Banra E, Bandra Kurla Complex, Mumbai- 51. Represented by its Senior Vice President. ...RESPONDENTS

¶45

Petition under Article 226 of the constitution of lndia praying that in the circumstances stated in the affidavit filed therewith, the High'cJurt may te pleased to issue a writ, direction or order especiaily in the riature of a wiit of mandamus declaring that the order dated 8-10-2014 passed by tn" app.itrt" Authority for lndustrial and Financial Reconstruction (nnrnn) and ihe ordei dated 30-1-2013 passed by the Board for lndustriar and Financiar Reconstruction lairR; as being illegal, unjust, contrary to the retter and spirit of the provisions of thE sick lndustrial companies Act, 1g85 and viorative of principres of naturar ;ustrce ano, consequently, set aside both the above orders.

¶46

l.A. NO: 1OF 2015(WPMP. NO:1 4847 0F 20151

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Petition under Section 1s1 cpc praying that in the circumstances stated in the affidavit filed in support of the petition, ine uigt' court may ne pteasla to suspend the order dated OB-10-2014 passed by the Appeilaie Authority for lndustrial and Financial Reconstruction ('AAiFR,') ind the order dated 3o-1:2o13 passed by the Board for lndustrial and Financial Reconstruction (',B|ER,,)

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Counsel for the Petitioner: Ms. B.NtSHITHA, REPRESENTTNG FOR FOR SRI Ch. PUSHYAM KIRAN

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counsel for the Respondent Nos. 1 &2 : ASSIsTANT soLlctroR GENERAL oF INDIA

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Counsel for the Respondent Nos. 4 & 5 : SRt p. V. MARKANDEYULU

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The Court made the following COMMON ORDER

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THE HON,BLE JUSTICE MOUSHUMI^BHATTACHARYA

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REFERRED COMPANY CASE NO.l OF 2OI3 AND trIRIT PETITION NO.11230 OF 2015

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Ms. B.Nishitha, learned counsel representing^{Mr. Ch.PushyamKiran,learned} counsel for the petitioner.

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COMMON ORDER:

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Learned counsel appearing for the^petitioner submits^that the petitioner company has been admitted into Corporate Insolvency Resolution Process (CIRP) by an order of the NCLT, Hyderabad dated Ii 1.03.2023. l'lence, both these matters have become infructuous.

¶57

R.C.C.No. I ot 2C23 and W.P.No.11230 of 2015 are hence dismissed as having become infructuous.^'I'here shall be no order as to costs.

¶58

Pending miscelianeous applications, if any, stand closed.

¶59

Sd/. K. SRINIVASA RAO JOINT REGIS R

//TRUE COPY//

SECTION OFFICER

To,

'1 . OneCCto SRI CH PUSHYAM KIRAN, AdvocateIOPUC]

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The Assistant Solicitor General Of^{lndia, High Court for the State of} Telangana at Hyderabad. [OPUC]

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One CC to SRI P V MARKANDEYULU,^Advocate [OPUC]

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4 One CC to SRl. L VENKATESHWAR RAO^Advocate IOPUC]

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One CC to SRl. /BATHULA RAJKIRAN(SC^{FOREXCISE&CUSTOMS)} loPUCl

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Two CD Copies

HIGH COURT

DATED:1411012024

COMMONORDER

REFERRED COMPANY CASE NO. 1 ot 2013 AND

¶74

wRlT PET|T|ON NO. 11230 0F 2015

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i tr'C S T4;
rt
2 5 N0\l ?[7[
L)t
ts ol ri -rrE9

¶76

DISMISSING TI{E IICC NO. I oF 2OIJ AND W.P.NO. I I23O OF2OI5

¶77

Rep. by Bifr.. v. M/s. Terrygold (India) Ltd.

Case brief

What is this about?

What did the court decide?

Rep. by Bifr.. v. M/s. Terrygold (India) Ltd.

Case brief

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What did the court decide?

What the court decided

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