M/S Jenson And Nicholson Finenci vs M/S Raj Brewaries Ltd ...
2023 Latest Caselaw 6330 Raj/2

[2023:RJ-JP:32094]

        HIGH COURT OF JUDICATURE FOR RAJASTHAN
                    BENCH AT JAIPUR

                     S.B. Company Petition No. 5/1998

The Official Liquidator of Attached to Calcutta High Court office
at 9, Old Post Post Office Street, 4th and 5th Floor, Calcutta-
700001 M/s Jenson and Nicholson Financial Services Ltd. (in
Liquidation) Having its Registered Office at 225, AJC Bose Road,
Calcutta-700020.
                                                                   ----Petitioner
                                      Versus
M/s Rajasthan Breweries Ltd., 111, K.M. Stone, Delhi-Jaipur
N.H.8, Shahjahanpur, District Alwar (Raj.)-301706.
                                               ----Non Petitioner/Respondent

For Petitioner(s)           :     Mr. Ankit Sethi
For Respondent(s)           :     Mr. Anil Mehta, Sr. Adv. with
                                  Mr. Siddharth Bapna

HON'BLE MR. JUSTICE MAHENDAR KUMAR GOYAL

Judgment / Order

31/10/2023

This company petition has been filed under Sections 433 &

434 of the Companies Act, 1956 for winding up of the respondent-

company, M/s Rajasthan Breweries Ltd.

The relevant facts in brief, as revealed from the petition, are

that the petitioner-company, a finance company, entered into a

lease agreement dated 14.12.1993 with M/s Asian Consolidated

Industries Ltd., a sister concern of the respondent-company. It is

averred that since, the lessee, i.e., M/s Asian Consolidated

Industries Ltd., committed default in payment of rent, the

petitioner company vide notice dated 05.07.1997 terminated the

lease agreement and required the respondent-company to pay the

entire rental dues of ₹48,64,733.02. Alleging that M/s Asian

[2023:RJ-JP:32094] (2 of 2) [COP-5/1998]

Consolidated Industries Ltd., the sister concern of the respondent-

company, has been merged in it and the respondent-company has

taken over all the assets and liabilities of the lessee company vide

letter dated 17.10.1997, this winding up company petition has

been filed.

The respondent company, in its reply, denying the

averments made in the petition, submitted that the lessee, i.e.,

M/s Asian Consolidated Industries Ltd. has neither merged in it

nor, the respondent-company has taken over its assets and

liabilities. It is averred that it has no privity of contract with the

petitioner-company. Dismissal of the company petition, is

therefore, prayed for.

Learned counsel for the official liquidator of the petitioner-

company inasmuch as it is in liquidation, fairly admits that there is

no material on record to substantiate the averment/allegation that

either the lessee company, i.e. M/s Asian Consolidated Industries

Ltd. has merged in the respondent-company or that the

respondent-company has taken over the assets and liabilities of

the lessee company. It is also an admitted position that there is

no privity of contract in between the petitioner and the respondent

with regard to the lease agreement.

In view of the aforesaid, this company petition is devoid of

merit and is dismissed accordingly.

(MAHENDAR KUMAR GOYAL),J

Manish/37

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