CL : Where Court by its order stayed admission of winding up petition subject to fulfilment of some conditions by respondent company and company failed to comply with those conditions, application seeking recall of that order was to be dismissed
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[2014] 51 taxmann.com 100 (Andhra Pradesh)
HIGH COURT OF ANDHRA PRADESH
Maytas Properties Ltd.
v.
Krishna Kilaru
RAMESH RANGANATHAN, J.
CO. APPLICATION NOS. 680 OF 2013 & OTHERS
C. P. NOS. 70 OF 2010 & OTHERS
DECEMBER 27, 2013
Section 271, read with section 303, of the Companies Act, 2013/Section 433, read with section 483, of the Companies Act, 1956 - Winding up - Circumstances in which a company may be wound up - Whether except in cases of an ex parte order of admission of winding up petition or an ex parte order of advertisement of said petition or both or for violation of principles of natural justice or if order is vitiated by fraud, a "recall petition" would not be entertained for mere asking or on specious plea that subsequent events necessitate its "recall" - Held, yes - Petitioners had filed winding up petition against respondent-company for its failure to complete construction of apartments within agreed period - Court by its order dated 21-8-2012 concluded that a case of admission had been made out - Court imposed two conditions on company : construction of apartment by specified date and net worth of company should be positive - Respondent-company did not file appeal against that order but sought for recall of that order dated 21-8-2012 - Whether since company failed to comply with both conditions imposed by Court, company petition stand automatically admitted but same was delayed as respondent-company sought for recall of order dated 21-8-2012 - Held, yes - Whether application was not bona fide and was instituted to drag on proceedings only to avoid advertisement of admission of company petition and, therefore, application seeking recall being devoid of merits was to be dismissed - Held, yes [Paras 30,31,37,73,74,75,78 & 79]
■■■
[2014] 51 taxmann.com 100 (Andhra Pradesh)
HIGH COURT OF ANDHRA PRADESH
Maytas Properties Ltd.
v.
Krishna Kilaru
RAMESH RANGANATHAN, J.
CO. APPLICATION NOS. 680 OF 2013 & OTHERS
C. P. NOS. 70 OF 2010 & OTHERS
DECEMBER 27, 2013
Section 271, read with section 303, of the Companies Act, 2013/Section 433, read with section 483, of the Companies Act, 1956 - Winding up - Circumstances in which a company may be wound up - Whether except in cases of an ex parte order of admission of winding up petition or an ex parte order of advertisement of said petition or both or for violation of principles of natural justice or if order is vitiated by fraud, a "recall petition" would not be entertained for mere asking or on specious plea that subsequent events necessitate its "recall" - Held, yes - Petitioners had filed winding up petition against respondent-company for its failure to complete construction of apartments within agreed period - Court by its order dated 21-8-2012 concluded that a case of admission had been made out - Court imposed two conditions on company : construction of apartment by specified date and net worth of company should be positive - Respondent-company did not file appeal against that order but sought for recall of that order dated 21-8-2012 - Whether since company failed to comply with both conditions imposed by Court, company petition stand automatically admitted but same was delayed as respondent-company sought for recall of order dated 21-8-2012 - Held, yes - Whether application was not bona fide and was instituted to drag on proceedings only to avoid advertisement of admission of company petition and, therefore, application seeking recall being devoid of merits was to be dismissed - Held, yes [Paras 30,31,37,73,74,75,78 & 79]
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