Karnataka High Court
Karnataka State Industrial ... vs The Official Liquidator Of M/S ... on 27 June, 2023
Bench: Alok Aradhe, Anant Ramanath Hegde
1
IN THE HIGH COURT OF KARNATAKA AT BENGALURU
DATED THIS THE 27TH DAY OF JUNE 2023
PRESENT
THE HON'BLE MR. JUSTICE ALOK ARADHE
AND
THE HON'BLE MR. JUSTICE ANANT RAMANATH HEGDE
O.S.A. NO.3 OF 2013
C/W
O.S.A. NO.4 OF 2021
IN O.S.A. NO.3 OF 2013
BETWEEN:
1. KARNATAKA STATE INDUSTRIAL INFRASTRUCTURE
AND DEVELOPMENT CORPORATION LIMITED
(FORMERLY KARNATAKA STATE INDUSTRIAL
INVESTMENT AND DEVELOPMENT
CORPORATION LIMITED)
A COMPANY INCORPORATED UNDER
THE INDIAN COMPANIES ACT
HAVING ITS REGISTERED OFFICE AT
NO.49, EAST WING, KHANIJA BHAVAN
RACE COURSE ROAD, BANGALORE-560001
REPRESENTED BY ITS ASSISTANT GENERAL
MANAGER B. RAJENDRA.
...APPELLANT
(BY SRI. T.P. VIVEKANANDA, ADV.,)
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AND:
1. THE OFFICIAL LIQUIDATOR OF
M/S SHREE KRISHNA RAJENDRA MILLS
LIMITED (IN LIQUIDATION)
ATTACHED TO HIGH COURT OF KARNATAKA
D & F WING 4TH FLOOR
KENDRIYA SADAN, KORAMANGALA
BANGALORE-560034
PRESENTLY AT CORPORATE BHAVAN
NO.26-27, 12TH FLOOR, RAHEJA TOWERS
M.G. ROAD, BANGALORE-560001.
2. M/S ATLANTIC SPINNING AND WEAVING
MILLS LIMITED
BANGALORE-MYSORE ROAD
MYSORE-578002
ALTERNATE ADDRESS
M/S ATLANTIC SPINNING AND
WEAVING MILLS LTD, NO.4
KANAKSHIR NAGAR COLONY
CATHEDRAL ROAD,. MADRAS.
...RESPONDENTS
(BY MR. ARUN KUMAR K, SR. COUNSEL &
MRS. KRUTIKA RAGHAVAN, ADV., FOR R1
MR. S.S. NAGANAND, SR. COUNSEL FOR
MR. RAKESH BHAT, ADV., FOR R2
MS. SHILPA PRASAD, ADV., FOR
MRS. MAITREYI KRISHNAN, ADV., FOR
APPLICANT IN IA 1/2020
MS. SHILPA PRASAD, ADV., FOR
MR. CLIFTON D'ROZARIO, ADV., FOR
IMPLEADING APPLICANT IN IA 1/19
MR. VIGNESH SHETTY, ADV., FOR
IMPLEADING APPLICANT IN IA 1/21
MR. A.S. NAVEEN, ADV., FOR
MR. CHANDRAKANTH R. GOULAY, ADV., FOR
IMPLEADING APPLICANT IN IA 2/21
MR. ESHWAR H.H. ADV., FOR
IMPLEADING APPLICANT IN IA 5/21)
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THIS O.S.A. IS FILED UNDER SECTION 483 OF THE
COMPANIES ACT, 1956 R/W SECTION 4 OF THE KARNATAKA
HIGH COURT ACT, 1961, PRAYING TO ALLOW THIS ORIGINAL
SIDE APPEAL. SET ASIDE THE ORDER PASSED BY THE
LEARNED COMPANY JUDGE IN CA NO.1059/2002 DATED
05.12.2012. DISMISS CA NO.1059/2002, WITH COSTS
THROUGHOUT IN THE INTEREST OF JUSTICE AND EQUITY.
IN O.S.A. NO.4 OF 2021
BETWEEN:
1. J.M. FINANCIAL ASSET RECONSTRUCTION COMPANY
LIMITED
REGISTERED OFFICE AT
7TH FLOOR, CYNERGY
APPASAHEB MARATHE MARG
PRABHADEVI, MUMBAI-400025
REPRESENTED BY HIS AUTHORISED OFFICER
MR. KEYUR THAR.
...APPELLANT
(BY SRI. VIGNESH SHETTY, ADV.,)
AND:
1. THE OFFICIAL LIQUIDATOR OF
M/S. SHREE KRISHNARAJENDRA MILLS LTD
(IN LIQUIDATION)
ATTACHED IN HON'BLE HIGH COURT
OF KARNATAKA
PRESENTLY AT 12TH FLOOR, RAHEJA TOWERS
M.G. ROAD, BANGALORE-560001.
2. M/S. ATLANTIC SPINNING AND
WEAVING MILLS LTD
BANGALORE MYSORE ROAD
MYSORE-578002
REPRESENTED BY ITS LIQUIDATOR.
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ALTERNATE ADDRESS
M/S. ATLANTIC SPINNING AND
WEAVING MILLS LTD
NO.4, KANAKSHRI NAGAR COLONY
CATHEDRAL ROAD, MADRAS.
3. M/S. KARNATAKA STATE INDUSTRIAL
INFRASTUCTURE AND DEVELOPMENT
CORPORATION LTD
REGISTERED OFFICE AT NO.49, EAST WING
KHANIJA BHAVAN, RACE COURSE ROAD
BANGALORE-560001
REPRESENTED BY ITS MANAGING DIRECTOR.
...RESPONDENTS
(BY MR. ARUN KUMAR K, SR. COUNSEL &
MRS. KRUTHIKA RAGHAVAN, ADV., FOR R1
MR. S.S. NAGANAND, SR. COUNSEL FOR
MR. RAKESH BHAT, ADV., FOR R2
MR. T.P. VEVEKANANDA, ADV., FOR R3)
THIS O.S.A. IS FILED UNDER SECTION 483 OF
COMPANIES ACT, 1956 R/W SECTION 4 OF THE KARNATAKA
HIGH COURT ACT, 1961, PRAYING TO SET ASIDE THE
ORDER DATED 05.12.2012, PASSED BY THE LEARNED
COMPANY JUDGE IN COMPANY APPLICATION NO.1059/2002,
BY ALLOWING THIS ORIGINAL SIDE APPEAL & ETC.
THESE APPEALS HAVING BEEN HEARD AND
RESERVED FOR JUDGMENT ON 23.06.2023, COMING ON
FOR PRONOUNCEMENT OF JUDGMENT THIS DAY,
ALOK ARADHE J., DELIVERED THE FOLLOWING:
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JUDGMENT
For the reasons assigned by us in the judgment
passed today in OSA No.4/2013, these appeals fail
and are hereby dismissed.
Consequently, all pending interlocutory
applications are also dismissed.
Sd/-
JUDGE
Sd/-
JUDGE
SS
