IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 29TH DAY OF JUNE, 2017 BEFORE THE HON’BLE Dr.JUSTICE VINEET KOTHARI COMPANY PETITION No. 38 OF 2012 BETWEEN:
M/s. World Trading SRL, A Company incorporated under the Italian laws Having its registered office at Sede Legale Ed Amministrativa Via Longuelo 58, 24129 Bergamo(BG), ITALIA Represented by its Managing Director, Mr. Ettore Mologni …Petitioner (By Sri. Manu Kulkarni and Miss. Shristi Ulidge, Advocate for Smt. Nalina Mayegowda, Advocate.) AND:
M/s. CVM Precision Products Pvt. Ltd. A Company registered under the Companies Act, 1956 Having its Registered Office at 37A, 3rd Main Road, Doddenakundi Industrial Area Mahadevpura Post, Bangalore-560048. Represented by its Authorized Signatory (By Ms. Jayna Kothari, Advocate) ...Respondent THIS COMPANY PETITION IS FILED UNDER SECTION 433(E) & 434 OF THE COMPANIES ACT, 1956 PRAYING TO PASS ORDERS TO THE EFFECT THAT, THE RESPONDENT COMPANY M/S. CVM PRECISION PRODUCTS PRIVATE LIMITED HAVING ITS REGISTERED OFFICE AT 37A, 3RD MAIN ROAD, DODDENAKUNDI INDUSTRIAL AREA, BANGALORE- 560048, BE WOUND UP UNDER THE PROVISIONS OF THE COMPANIES ACT, 1956 AND ETC.
THIS PETITION COMING ON FOR ADMISSION THIS DAY, THE COURT MADE THE FOLLOWING:
ORDER Mr. Manu Kulkarni and Miss. Shristi Ulidge, Adv., for Smt. Nalina Mayegowda, Advocate, Adv., for Petitioner.
Ms.Jayna Kothari, Adv. for Respondent.
1. Looking into the dispute between the parties, the learned counsel for the petitioner fairly submits that he may be permitted to withdraw this winding up petition against the respondent-company with the liberty to file a civil suit. He also submits that if such civil suit is filed, the trial Court may be requested to consider the issue of limitation sympathetically in view of Section 14 of the Limitation Act.
2. Learned counsel for the respondent-company though vehemently opposed this company petition, however, does not seriously dispute to such liberty to the petitioner-company.
3. Having heard the learned counsels, the petitioner is permitted to withdraw this winding up petition. The same is accordingly dismissed as not pressed. The petitioner-company will have liberty to file a civil suit in the matter, if it chooses to do so and if an application for condonation of delay is filed, the trial Court may consider the case objectively in accordance with law.
Sd/- JUDGE Ckl Sl. No. 33