IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 2ND DAY OF JANUARY 2019 BEFORE THE HON’BLE MR.JUSTICE ALOK ARADHE COMPANY APPLICATION NO.302 OF 2018 IN COMPANY PETITION NO.169 OF 2016 BETWEEN:
M/S. SOBHA LTD., A COMPANY REGISTERED UNDER THE PROVISIONS OF THE COMPANIES ACT, 1956 HAVING ITS REGISTERED OFFICE AT “SOBHA” SARJAPUR – MARATHAHALLI, OUTER RING ROAD (ORR), DEVARABEESANAHALLI, BELLANDUR POST, BENGALURU – 560 103.
REPRESENTED BY ITS AUTHORISED REPRESENTATIVE SRI.RAGHAVENDRA N.R.
(BY SRI. B.S.VENKATANARAYANA ADVOCATE FOR SRI. MADHUKAR DESHPANDE, ADVOCATE) AND:
M/S. CHAITHANYA PROJECTS PVT. LTD., A COMPANY REGISTERED UNDER THE COMPANIES ACT, 1956 AND HAVING ITS REGISTERED OFFICE AT NO.104, PRESTIGE OMEGA, 3RD FLOOR, EPIP ZONE, WHITEFIELD, BENGALURU – 560 066.
...APPLICANT REPRESENTED BY ITS MANAGING DIRECTOR. ...RESPONDENT (MISS AYSHWARYA CHANDAR, ADVOCATE FOR M/S. INDUS LAW, ADVOCATES) THIS COMPANY APPLICATION IS FILED UNDER RULE 6 AND 9 OF THE COMPANIES (COURT) RULES 1959 PRAYING TO PERMIT THE APPLICANT COMPANY TO WITHDRAW AN AMOUNT OF RS.1,94,13,770/-, WITH INTEREST ACCRUED THEREON DEPOSITED BY THE RESPONDENT IN COMPANY PETITION NO.169/2016.
THIS COMPANY APPLICATION COMING ON FOR ORDERS, THIS DAY, THE COURT MADE THE FOLLOWING:
O R D E R Mr.Venkatanarayana, learned counsel for Mr.Madhukar Deshpande for the applicant.
Ms.Ayshwarya Chandar, learned counsel for M/s Indus Law.
Heard on Company Application No. 302/2018.
2. The application is filed seeking permission by the applicant-company to withdraw the amount of Rs.1,94,13,970/- (Rupees One crore Ninety Four lakhs Thirteen thousand Nine hundred and Seventy only) with interest accrued thereon, deposited by the respondent in COP No.169/2016.
3. When the matter was taken up today, learned counsel for the applicant submitted that in pursuance of the award passed by the Arbitrator, aforesaid amount has been deposited by the respondent and the applicant-company be permitted to withdraw the amount.
4. Learned counsel for the respondent has submitted that she has no objection to the aforesaid prayer.
5. In view of the aforesaid submissions, the applicant-company is permitted to withdraw the amount of Rs.1,94,13,970/- (Rupees One crore Ninety Four lakhs Thirteen thousand Nine hundred and Seventy only) along with interest accrued thereon, deposited by the respondent company in COP No.169/2016.
Accordingly, the Company Application No.302/2018 is allowed.
Sd/- JUDGE ln.