S.K. Chopra v. Kassa Finvest Pvt. Ltd.

$~ *IN THE HIGH COURT OF DELHI AT NEW DELHI Date of decision: 2nd November, 2018 + CO.PET. 122/2015 S.K. CHOPRA ..... Petitioner Through:

Mr. S. Dutta, Adv.

versus KASSA FINVEST PVT. LTD.

..... Respondent Through:

Mr. Rohit Oberoi, Adv. for R-1 Mr. Rachit Devgun, Adv. for SEBI

CORAM:

HON'BLE MR. JUSTICE C.HARI SHANKAR ORDER (ORAL) % 02.11.2018 1.

Mr. S. Dutta appears on behalf of the petitioner and submits that his client is not in a position to deposit the amount of ₹ 75,000/- with the Official Liquidator, so as to enable the Official Liquidator to proceed with the matter in terms of the order passed by this Court on 12th July, 2018.

2.

A petitioner cannot be permitted to set the winding up law in motion by filing a petition for winding up a company and, thereafter, plead financial constraints, even for submission of the basic payment for enabling publication, pursuant to the appointment of Provisional Liquidator.

CO.PET. 122/2015

3.

In the circumstances, it is obvious that these proceedings cannot continue.

4.

The company petition is, therefore, dismissed. C.HARI SHANKAR, J.

NOVEMBER 2, 2018 dsn CO.PET. 122/2015