C/M Sahkari Ganna Vikas Samiti And ... vs M/S Anand Agrochem India (P) Ltd. ...
2014 Latest Caselaw 4132 ALL

HIGH COURT OF JUDICATURE AT ALLAHABAD
 
 

?Court No. - 4
 
Case :- COMPANY PETITION No. - 28 of 2013
 
Petitioner :- C/M Sahkari Ganna Vikas Samiti And Another
 
Respondent :- M/S Anand Agrochem India (P) Ltd. Thru' Its Occupier/M.D.
 
Counsel for Petitioner :- S.K. Singh
 
Counsel for Respondent :- Shamim Ahmad
 

 
Hon'ble Surya Prakash Kesarwani,J.

1.     Heard Sri S.K.Singh, learned counsel for the petitioners and Sri Ravi Kant, learned Senior Advocate, assisted by Sri Shamim Ahmad, learned counsel for the respondent company.

2.     Sri Ravi Kant, learned Senior Advocate has raised preliminary objection as to the maintainability of the company petition on the grounds namely, (i) No notice was given to the respondent company as contemplated under Section 434(1)(a) of the Companies Act, 1956, (ii) there is no execution or other process issued on a decree or order of any Court or Tribunal in favour of the petitioner creditor has been returned unsatisfied in whole or in part and as such Clause (b) of sub-section (1) of Section 434 of the Act shall not be applicable, (iii) Neither there is any pleadings nor the petitioners have proved to the satisfaction of this Court that the company is unable to pay its debts and as such the provision of sub-clause (c) of sub-section (1) of Section 434 is also not invokable, (iv) Petitioner is a society of cane growers. It is not a cane grower and ,thus, not creditor of the company. Therefore, this company petition at the instance of the cane cooperative union/ society is not maintainable under the Act.

3.     In support of his submission, learned senior counsel has relied upon the following judgments :

(i) 2005(128) Company Cases 672 (Cal.) (para 19 to 23), (Motilal Agarwal Vs. Diabari Tea Company Limited ),

(ii) 1991 (70) Company Cases 31 (Bombay) (paras 11 to 13), N.L. Mehta Cinema Enterprises (P.) Ltd. Vs. Pravinchandra P. Mehta.

4.     Sri Ravi Kant prays that the matter may be taken up on Thursday, i.e., on 14th August, 2014 for further submissions.

5.     As prayed, put up on Thursday, i.e., on 14th August, 2014.

Order Date :- 7.8.2014/Mukesh

(Surya Prakash Kesarwani,J. )