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Kerala High Court
Rajkumar Gupta vs Rbg Enterprises Private Limited on 9 January, 2026
Author: T.R. Ravi
Bench: T.R.Ravi
2026:KER:1375
OP(C) NO. 631 OF 2025
1
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE T.R.RAVI
FRIDAY, THE 9TH DAY OF JANUARY 2026 / 19TH POUSHA, 1947
OP(C) NO. 631 OF 2025
AGAINST THE ORDER DATED 13.02.2025 IN EP NO.1 OF 2024 OF
NATIONAL COMPANY LAW TRIBUNAL, KOCHI BENCH, KAKKANAD
PETITIONERS/PETITIONERS:
1 RAJKUMAR GUPTA
AGED 55 YEARS
S/O. RADHA BALLABH GUPTA,
RESIDING AT FLAT NO.6D,
BAY VIEW APARTMENT
OPP. CHILDRENS' PARK PRINCESS STREET,
FORT KOCHI, PIN - 682001
2 VISHNUKANT GUPTA
AGED 52 YEARS
S/O. RADHA BALLABH GUPTA,
RESIDING AT FLAT NO.1B,
SUN RISE APARTMENT INDIAN CHAMBER ROAD,
MATTANCHERRY, ERNAKULAM, PIN - 682002
BY ADV SHRI.AKHIL SURESH
RESPONDENTS/RESPONDENTS 1-8:
1 RBG ENTERPRISES PRIVATE LIMITED
CIN: U63022KL2005PTC018653
HAVING ITS REGISTERED OFFICE AT
DOOR NO VI/93 JEW TOWN
MATTANCHERRY P O ERNAKULAM,
EMAIL ID: [email protected]
REPRESENTED BY ITS MANAGING DIRECTOR,
PIN - 682002
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OP(C) NO. 631 OF 2025
2
2 MAHESH KUMAR GUPTA
RESIDING AT HOUSE NO.CCVIII/2109
GUJARATI ROAD, MATTANCHERRY,
KOCHI, PH: 9656640000
EMAIL ID: [email protected],
PIN - 682002
3 SULOCHANA GUPTA
RESIDING AT HOUSE NO.CCVIII/2109,
GUJARATI ROAD, MATTANCHERRY,
KOCHI, PH: 9400426400
EMAIL ID: [email protected],
PIN - 682002
4 MINAKSHI GUPTA
RESIDING AT HOUSE NO.CCVIII/2109
GUJARATI ROAD, MATTANCHERRY,
KOCHI, PH: 9656540000
EMAIL ID: [email protected],
PIN - 682002
5 SANJAY KUMAR AGARWAL
DOOR NO VI/93 JEW TOWN
MATTANCHERRY P O ERNAKULAM,
EMAIL ID: [email protected],
PIN - 682002
6 REGISTRAR OF COMPANIES
ERNAKULAM BMC ROAD,
THRIKKAKARA P.O. KAKKANAD,
KOCHI, KERALA, PIN - 682021
7 REGIONAL DIRECTOR
5TH FLOOR, SHASTRI BHAWAN 26 HADDOWS ROAD
CHENNAI-, PIN - 600006
BY ADVS.
SRI.P.B.KRISHNAN (SR)
SHRI.A.KUMAR (SR.)
SHRI.NITISH SATHESH SHENOY
SMT. SNEHA MARIYA JAMES
SRI.SHERRY SAMUEL OOMMEN
SHRI.EBIN MATHEW
SRI.ARUN.B.VARGHESE
SMT.SHRUTHI SARA JACOB
SRI.SUKUMAR NAINAN OOMMEN
2026:KER:1375
OP(C) NO. 631 OF 2025
3
SMT.VYDEHI P.
SHRI.NAVEEN D. PALAKAL
SHRI.P.J.MATHEW
SMT.AKHILA SHOJI
SMT.KRISHNAPRIYA PRASAD
SMT.O.M.SHALINA, DSGI
THIS OP (CIVIL) HAVING BEEN FINALLY HEARD ON 09.01.2026,
THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
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OP(C) NO. 631 OF 2025
4
T.R. RAVI, J.
--------------------------------------------
O.P.(C). No.631 of 2025
--------------------------------------------
Dated this the 9th day of January, 2026
JUDGMENT
When the case is taken up, it is submitted by the counsel
for the petitioners that the pleadings are complete and the
petitioners may be permitted to move the NCLT for early hearing.
In view of the above submission, this original petition is
closed without prejudice to the rights of the parties.
Sd/-
T.R. RAVI
JUDGE
Pn
2026:KER:1375
OP(C) NO. 631 OF 2025
APPENDIX OF OP(C) NO. 631 OF 2025
PETITIONERS' EXHIBITS
Exhibit P1 A TRUE COPY OF THE MEMORANDUM OF
UNDERSTANDING (MOU) DATED 15-09-2016
Exhibit P2 A TRUE COPY OF THE ORDER DATED 31-12-2021
IN COMPANY PETITIONS NOS.114,119 & 125 OF
2019 UNDER SECTION 130, 241 & 242 OF
COMPANIES ACT, 2013
Exhibit P3 A TRUE COPY OF THE REVIEW ORDER DATED
16-03-2022 IN REVIEW APPL NO. 02 OF 2022
IN CP NO.114, 119 & 125 OF 2019 PASSED IN
THE REVIEW APPLICATION
Exhibit P4 A CERTIFIED COPY OF THE COMMON ORDER
PASSED BY THE NATIONAL COMPANY LAW
APPELLATE TRIBUNAL, CHENNAI DATED 27-04-
2023 IN COMPANY APPEAL NOS.18, 19 & 20 AND
31 OF 2022
Exhibit P5 A TRUE COPY OF THE COMMON ORDER DATED
21.07.2023 PASSED BY SUPREME COURT OF
INDIA IN CIVIL APPEAL NOS. 4277-4279/2023
WITH CIVIL APPEAL NOS. 4586-4589/2023
Exhibit P6 A TRUE COPY OF THE ORDER DATED 17-09-2024
PASSED BY SUPREME COURT OF INDIA IN CIVIL
APPEAL NOS. 4277-4279/2023 WITH CIVIL
APPEAL NOS. 4586-4589/2023
Exhibit P7 A TRUE COPY OF THE MASTER DATA EVIDENCING
THE CONSTITUTION OF BOARD OF DIRECTORS
PRIOR TO 16.03.2025
Exhibit P8 A TRUE COPY OF THE MASTER DATA EVIDENCING
THE CONSTITUTION OF BOARD OF DIRECTORS
POST 16.03.2025
Exhibit P9 TRUE COPY OF THE BALANCE SHEET AS ON
31.03.2024
Exhibit P10 A TRUE COPY OF THE EXECUTION PETITION
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OP(C) NO. 631 OF 2025
1/KOB/2024 WITHOUT ANNEXURE
Exhibit P11 A TRUE COPY OF THE ORDER DATED 06.12.2025
IN EXECUTION PETITION 1/KOB/2024
Exhibit P12 A TRUE COPY OF THE COUNTER AFFIDAVIT FILED
BY THE 1ST RESPONDENT IN EXECUTION
PETITION 1/KOB/2024 DATED 19.01.2025
Exhibit P13 A TRUE COPY OF THE COUNTER AFFIDAVIT FILED
BY THE 2ND RESPONDENT IN EXECUTION
PETITION 1/KOB/2024 DATED 19.01.2025
Exhibit P14 A TRUE COPY OF THE ORDER DATED 13.02.2025
IN EXECUTION PETITION 1/KOB/2024
Exhibit P-15 TRUE COPY OF THE APPLICATION SEEKING
INTERIM RELIEF IN I.A.128185 OF 2023
BEFORE THE HON'BLE SUPREME COURT
Exhibit P-16 TRUE COPY OF THE APPLICATION SEEKING
INTERIM RELIEF IN I.A.138540 OF 2023
BEFORE THE HON'BLE SUPREME COURT
Exhibit P-17 TRUE COPY OF THE PLAINT IN O.S. NO. 12 OF
Exhibit P-18 TRUE COPY OF THE PLAINT IN O.S. NO. 22 OF
Exhibit P-19 TRUE COPY OF THE ORDER OF THE SUPREME
COURT IN 26.07.2023 IN CIVIL APPEAL NO.
42774279 OF 2023 WITH CIVIL APPEALS NOS.
4586-4589/2023
Exhibit P-20 TRUE COPY OF THE ORDER OF THE SUPREME
COURT IN 14.12.2023 IN CIVIL APPEAL NO.
42774279 OF 2O23 WITH CIVIL APPEALS NOS.
4586-4589/2023
Exhibit P-21 TRUE COPY OF THE ORDER OF THE SUPREME
COURT IN 14.05.2024 IN CIVIL APPEAL NO.
42774279 OF 2023 WITH CIVIL APPEALS NOS.
4586-4589/2023
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OP(C) NO. 631 OF 2025
Exhibit P-22 TRUE COPY OF THE ORDER OF THE SUPREME
COURT IN 05.08.2024 IN CIVIL APPEAL NO.
4277-4279 OF 2023 WITH CIVIL APPEALS NOS.
4586-4589/2023
Exhibit P-23 TRUE COPY OF THE ORDER OF THE SUPREME
COURT IN 12.08.2024 IN CIVIL APPEAL NO.
42774279 OF 2023 WITH CIVIL APPEALS NOS.
4586-4589/2023
Exhibit P-24 TRUE COPY OF THE APPLICATION FILED BEFORE
THE SUPREME COURT IN CIVIL APPEALS NOS.
Exhibit P-25 TRUE COPY OF THE MENTIONING LETTER DATED
30.04.2025
Exhibit P-26 TRUE COPY OF THE ORDER DATED 09.05.2025 IN
I.A. NO. 84246/2025 IN C.A. NOS. 4586-
Exhibit P-27 TRUE COPY OF THE ORDER DATED 19.05.2025 IN
CIVIL APPEAL NOS. 6985-6986 OF 2025
Exhibit P-28 TRUE COPY OF THE ORDER OF THE HON'BLE
NATIONAL COMPANY LAW TRIBUNAL DATED
30.05.2025 IN E.P. NO. 1/KOB/2025
Exhibit P29 THE TRUE COPY OF THE VAKALATHNAMA FILED BY
THE COUNSEL FOR RESPONDENT NO. 5 IN THE
SAID EXECUTION PROCEEDING
Exhibit P30 THE TRUE COPY OF THE ORDER IN E.P. NO.
KOB/2024 DATED 15.04.2025
Exhibit P31 THE TRUE COPY OF THE ORDER IN E.P. NO.
1/KOB/2024 DATED 05.05.2025
Exhibit P32 THE TRUE COPY OF THE ORDER IN EP.
NO.1/KOB/2024 DATED 30.05.2025
Exhibit P33 A TRUE COPY OF THE COUNTER AFFIDAVIT
(WITHOUT ANNEXURES) FILED BY THE 5TH
RESPONDENT IN E.P. NO. 1/K0B/2024 DATED
10.04.2025
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OP(C) NO. 631 OF 2025
RESPONDENTS' EXHIBITS
Exhibit R2(A) TRUE COPY OF THE CERTIFICATE OF
INCORPORATION OF R1 COMPANY
Exhibit R2(B) TRUE COPY OF ORDER DATED 12.08.2021 IN
Exhibit R2(C) TRUE COPY OF THE MINUTES OF THE MEETING OF
THE PROMOTERS HELD ON 10.01.2022
Exhibit R2(D) TRUE COPY OF THE RESOLUTION ADOPTED BY THE
BOARD ON 18.03.2022
Exhibit R2(E) TRUE COPY OF THE RESOLUTION ADOPTED BY THE
BOARD ON 09.04.2022
Exhibit R2(F) TRUE COPY OF THE ORDER DATED 25.05.2022 IN
IA 208/2022 IN CA/18/2022
Exhibit R1(A) A TRUE COPY OF THE REPLY FILED BY THE
PETITIONERS IN THE SUBJECT ORIGINAL
PETITION IN CP(C/ACT)/24/KOB/2024 PENDING
BEFORE THE HON'BLE NCLT
Exhibit R1(B) TRUE COPY OF THE PROOF OF SERVICE DATED
05.05.2025 OF THE REPLY OF R 6 AND 7 IN
CP/24/KOB/2024, DOWNLOADED FROM ONLINE
PORTAL OF THE HON'BLE NCLT, KOCHI.
Exhibit R1(C) A COPY OF THE ACKNOWLEDGEMENT HANDED OVER
TO THE MESSENGER
Exhibit R4(A) A TRUE COPY OF THE REPLY FILED BY THE
PETITIONERS IN CP(C/ACT)/24/KOB/2024
PERTAINING TO THE 1ST RESPONDENT BEFORE
THE HON'BLE NATIONAL COMPANY LAW TRIBUNAL,
KOCHI ('NCLT') ON 03 MAY 2025.
Exhibit R4(B) A TRUE COPY OF THE JUDGMENT OF THIS
HON'BLE COURT IN WP(C) 9819 OF 2022 DATED
22.03.2022 IS PRODUCED AS EXHIBIT - R4(B).
Exhibit R4(C) A TRUE COPY OF THE JUDGMENT OF THIS
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OP(C) NO. 631 OF 2025
HON'BLE COURT IN WA 420 OF 2022 IS
PRODUCED AS EXHIBIT - R4(C).
Exhibit R4(D) A TRUE COPY OF THE HON'BLE SUPREME COURT
ORDER DATED 18.04.2022
Exhibit R4(E) A TRUE COPY OF THE ORDER OF THE HON'BLE
NCLT DATED 16.07.2025 AS DOWNLOADED
Exhibit R4(F) A TRUE COPY OF THE AUDITED FINANCIAL
STATEMENTS OF THE COMPANY FOR THE YEAR
ENDED 31 MARCH 2023 DATED 03.11.2023
Exhibit R4(G) A TRUE COPY OF THE FORM DIR 12 FILED BY
THE COMPANY ON 08.02.2023
Exhibit R4(H) A TRUE COPY OF THE CRIME NO 1196/2021 FIR
IN ENGLISH TRANSLATION
Exhibit R4(I) A TRUE COPY OF HON'BLE JUDICIAL FIRST-
CLASS MAGISTRATE, MATTANCHERRY I ORDER
DATED 04.08.2022 IN CMP NO 1390/2022 IN
Exhibit R4(J) A TRUE COPY OF THE FIR 350 OF 2022 DATED
11.05.2022 ALONG WITH ENGLISH TRANSLATION
Exhibit R4(K) A TRUE COPY OF THE ORDER OF THE HON'BLE
MUNSIFF, ALUVA DATED 18.06.2022 IN IA
NO.1/2022 IN OS NO.201/2022 IS PRODUCED AS
EXHIBIT - R4(K)
Exhibit R4(L) A TRUE COPY OF THE FIR BEARING NUMBER
565/2022 DATED 05.07.2022 (ALONG WITH THE
ENGLISH TRANSLATION), PERTAINING TO
AMOUNTS AGGREGATING TO INR 78.25 LAKHS
Exhibit R4(M) A TRUE COPY OF THE BANK STATEMENTS OF M/S.
RBG ENTERPRISES PRIVATE LIMITED, AND RBG
TRADING CORPORATION PRIVATE LIMITED FOR
THE PERIOD 16.03.2022 TO 09.04.2022
Exhibit R4(N) A TRUE COPY OF THE FIR NO 590 OF 2022
(ALONG WITH THE ENGLISH TRANSLATION)
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OP(C) NO. 631 OF 2025
Exhibit R4(O) A TRUE COPY OF FIR NO 591 OF 2022 DATED
17.07.2022 (ALONG WITH THE ENGLISH
TRANSLATION)
Exhibit R4(P) A TRUE COPY OF PICTORIAL REPRESENTATION OF
THE FRAUD PERPETRATED BY THE PETITIONERS
Exhibit R4(Q) A COPY OF THE LETTER DATED 30.04.2022
REQUESTING HANDOVER OF THE MINI COOPER CAR
AND JEEP
Exhibit R4(R) A TRUE COPY OF THE ORDER DATED 05.08.2025
IN EXECUTION PETITION NO. 1 OF 2024 BY THE
HON'BLE NCLT, KOCHI BENCH DOWNLOADED FROM
THE WEBSITE OF THE HON'BLE NCLT
Exhibit R4(S) THE TRUE COPY OF INTERLOCUTORY APPLICATION
NO. 174/KOB/2025 SEEKING AMENDMENT OF
EXHIBIT P10
Exhibit R4(T) A TRUE COPY OF DETAILED COUNTER
AFFIDAVIT'S FILED BY 1ST RESPONDENT IN
RESPONSE TO EXHIBIT R4(Q)
Exhibit R4(U) A TRUE COPY OF DETAILED COUNTER
AFFIDAVIT'S FILED BY 5TH RESPONDENT IN
RESPONSE TO EXHIBIT R4(Q)
