The State Trading Corporation Of ... vs M/S Rajat Pharmachem Ltd & Ors
2015 Latest Caselaw 7807 Del

$~8.

*      IN THE HIGH COURT OF DELHI AT NEW DELHI
+      CS(OS) 2080/2009 and I.A.14204-14205/2009
       THE STATE TRADING CORPORATION OF INDIA LTD..... Plaintiff
                      Through: Mr. O.Ray Choudhuri, Sr. Advocate
                      with Mr. R.N. Yadav and Mr. Praveen Kumar,
                      Advocates

                         versus

       M/S RAJAT PHARMACHEM LTD & ORS              ..... Defendants
                      Through: Mr. Ateev Mathur, Advocate with
                      Ms. Richa Oberoi, Advocate for D-3.

       CORAM:
       HON'BLE MS. JUSTICE HIMA KOHLI

                         ORDER

% 12.10.2015

1. On the last date of hearing, counsel for the plaintiff was directed

to file the orders passed by the Company Judge attached to the

Bombay High Court to give this Court an update of the status of the

winding up proceedings against the defendant No.1/company and file

relevant orders regarding the appointment of the provisional/official

liquidator. Further, costs of Rs.5,000/- were imposed on the plaintiff

for causing a delay in the suit proceedings and it was directed that the

said costs be handed over to the counsel for the defendant No.3

within one week.

2. Costs have not been tendered till date. The only order filed by

the plaintiff/company is dated 06.02.2015, passed by the Company

Judge attached to the Bombay High Court in Company Petition

No.419/2013 entitled M/s Vidhya Pharchem Private Limited vs. Rajat

Pharchem Limited. Pertinently, Rajat Pharchem Limited is impleaded

as defendant No.1 in this suit. As per the order dated 08.02.2015, the

respondent in the company petition (defendant No.1 in the present

suit) had undertaken to pay a sum of Rs.6,50,00,000/- to M/s Vidhya

Pharchem Private Limited in full and final settlement of its claim and

the said undertaking was duly accepted. It was however clarified by

the company Court that in the event, the respondent/company

commits a default in paying the agreed instalments, the company

petition will stand revived and allowed in terms of prayer clause (a)

and (b) therein, which was for winding up of the respondent and for

appointment of the official liquidator.

3. The Court is informed that the respondent in the company

petition (defendant No.1 in the present suit) has defaulted in making

the payments to M/s Vidhya Pharchem Private Limited and as a result,

an official liquidator has been appointed by the Company Judge

attached to the Bombay High Court.

4. Learned Senior Advocate appearing for the plaintiff states that

subsequent to the passing of the order dated 06.02.2015, the plaintiff

has filed an application under Section 446 of the Company Act, for

seeking permission to proceed against the defendant No.1 in the

present suit and the said application is likely to be listed in the near

future.

5. In view of the aforesaid submission, it is deemed appropriate to

dispose of the present suit with liberty granted to the plaintiff to file an

application to seek revival thereof after appropriate orders are passed

by the Company Judge attached to the Bombay High Court.

6. The costs imposed on the plaintiff shall be tendered to the

defendant No.3 through counsel within two weeks from today.

7. The suit is disposed of alongwith the pending applications.

HIMA KOHLI, J OCTOBER 12, 2015 rkb/ap