IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 29TH DAY OF NOVEMBER, 2019 BEFORE THE HON’BLE MRS.JUSTICE S.SUJATHA COMPANY APPLICATION No.238/2019 IN COMPANY PETITION No.203/2010 BETWEEN :
SHERIFF CONSTRUCTIONS BANGALORE (BY SRI AJAY J.N, ADV.) AND :
1. THE BANK OF NEW YORK MELLON LONDON BRANCH, 40TH FLOOR ONE CANADA SQUARE LONDON, E14 5AL, ENGLAND ...APPLICANT REPRESENTED BY ITS CONSTITUTED ATTORNEY MR. NAVNEET SINGH.
2. CRANES SOFTWARE INTERNATIONAL LIMITED OFFICE AT # 29, 7TH CROSS 14TH MAIN, VASANTHNAGAR BENGALURU-560052.
(BY SRI ANIND THOMAS, ADV. FOR R1, …RESPONDENTS SRI KALEEMULLAH SHARIFF, ADV. FOR R2) THIS COMPANY APPLICATION IS FILED UNDER SECTION 466 OF THE COMPANIES ACT, 1956, READ WITH RULES 8, 9 AND 34 OF THE COMPANIES (COURT) RULES, 1959 PRAYING TO STAY THE ORDER OF WINDING UP DATED 28TH NOVEMBER 2017 PASSED BY THIS HON’BLE COURT, BY A PERIOD OF 12 (TWELVE) WEEKS, IN THE INTEREST OF JUSTICE AND EQUITY.
THIS APPLICATION COMING ON FOR ORDERS, THIS DAY, THE COURT MADE THE FOLLOWING:
O R D E R This application is filed by the applicant M/s. Sheriff Constructions seeking for stay of the winding up order dated 28.11.2017 passed by this Court in Company Petition No.203/2010.
2. It is submitted that M/s. Sheriff Constructions is a Partnership Firm registered under the provisions of the Indian Partnership Act, 1932. Pursuant to the order of winding up dated 28.11.2017, the applicant had filed an application seeking stay of the paper publication on the ground that attempts were made to negotiate settlement with the petitioner’s company and this Hon’ble Court was pleased to defer the advertisement of the winding up order for a period of eight weeks initially and thereafter extended from time to time. The Official Liquidator has been directed not to precipitate the matter and the same has been extended from time to time.
3. In the circumstances, the applicant seeks for stay of the winding up order for a period of twelve weeks in order to complete the transaction with the petitioner in Company Petition No.203/2010.
4. Having regard to the facts and circumstances, it is appropriate to consider the request of the applicant in order to facilitate the settlement process, so that, the petitioner in Company Petition No.203/2010 may withdraw the Company Petition. Accordingly, the order passed by this Court directing the Official Liquidator not to precipitate the matter shall be continued and the Newspaper publication of winding up order is also deferred for a period of eight weeks from today.
Accordingly, the Company Application No.238/2019 stands disposed of.
It is needless to observe that if no settlement is arrived between the parties on or before eight weeks, the petitioner in Company Petition No.203/2010 is at liberty to proceed with the Newspaper advertisement of the winding up order.
Sd/- JUDGE ssb