IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 6TH DAY OF DECEMBER, 2019 BEFORE THE HON'BLE MRS. JUSTICE S.SUJATHA COMPANY PETITION No.46/2016 BETWEEN:
TATA CAPITAL FINANCIAL SERVICES LIMITED HAVING ITS REGISTERED OFFICE AT ONE FORBES, Dr. V.B.GANDHI MARG FORT, MUMBAI-400001 REP. BY ITS REGIONAL COLLECTION MANAGER AND AUTHORIZED SIGNATORY Mr.G.SELVAKUMAR.
ALSO AT No.1202, TOWER A PENINSULA BUSINESS PARK GANAPATRAO KADAM MARG LOWER PAREL, MUMBAI-400013. … PETITIONER (BY SRI C.K.NANDA KUMAR, ADV.) AND:
CONVENTION HOTELS INDIA PRIVATE LIMITED HAVING ITS REGISTERED OFFICE AT PLOT No.7-A1, SINGAYANAPALYA 3RD CROSS, WHITEFIELD ROAD BENGALURU-560048 REP. BY ITS DIRECTOR.
ALSO AT:
No.496, MAHADEVAPURA VILLAGE K.R. PURAM HOBLI BEHIND HP CAMPUS WHITEFIELD MAIN ROAD BENGALURU-560048 REP. BY ITS DIRECTOR. …RESPONDENT [BY SRI S.SRIRANGA, ADV.] THIS COMPANY PETITION IS FILED UNDER SECTION 433[e] AND [f], 434 AND 439 OF THE COMPANIES ACT, 1956, PRAYING TO DIRECT THE WINDING UP OF THE RESPONDENT COMPANY, CONVENTION HOTELS INDIA PRIVATE LIMITED; AND ETC., THIS COMPANY PETITION IS COMING ON FOR ADMISSION THIS DAY, THE COURT MADE THE FOLLOWING:
O R D E R Learned counsel for the respondent has filed a memo which reads thus:
“During the pendency of the present company petition, the petitioner initiated arbitration proceedings before the Arbitral Tribunal presided over by Hon’ble Mr.Justice V.C.Daga, Former Judge, Bombay High Court. In the meanwhile, M/s.JM Financial Asset Reconstruction Company Limited agreed to restructure the dues of the respondent in relation to the petitioner, and was substituted as the claimant in the arbitration proceedings. The Arbitral Tribunal passed an award dated 14.11.2017 in terms of the settlement arrived at between the respondent and M/s.JM Financial Asset Reconstruction Company Limited. Copy of the award dated 14.11.2017 passed by the Arbitral Tribunal is produced herewith as Annexure-1. In view of the restructuring of the debt, the present company petition does not survive for consideration.”
2. The said memo is not disputed by the learned counsel for the petitioner.
3. The copy of the award dated 04.11.2017 passed by the Arbitral Tribunal is also placed along with the memo. In view of the restructuring of the debt and settlement entered into between the parties, the company petition does not survive for consideration.
Accordingly, company petition stands dismissed.
Sd/- JUDGE NC.