High Court for State of TelanganaCP/6/2014disposed of no costs

Uttam Swaroop Tolasariya v. Triveni Poly Plast (P) Ltd.,

2015-03-24C.V.Nagarjuna Reddy3 pages

THE HON'BLE SRI JUSTICE C.V.NAGARJUNA REDDY COMPANY APPLICATION No.1385 of 2014 and COMPANY PETITION No.6 of 2014 DATE: 24.03.2015 COMPANY APPLICATION No.1385 of 2014 Between:

P.Murali Krishna ...Applicant and Uttam Swaroop Tolasariya and another

...Respondents

COUNSEL FOR THE APPLICANT : SRI P.ANIL MUKHERJI COUNSEL FOR RESPONDENT No.1 : SRI Y.KOTESWARA RAO for SRI Y.RATNAKAR COUNSEL FOR RESPONDENT No.2 : SRI M.ANIL KUMAR, COUNSEL FOR OFFICIAL LIQUIDATOR COMPANY PETITION No.6 of 2014 Between:

Uttam Swaroop Tolasariya

...Petitioner

and Triveni Poly Plast (P) Ltd

...Respondent

COUNSEL FOR THE PETITIONER : SRI Y.KOTESWARA RAO for SRI Y.RATNAKAR COUNSEL FOR THE RESPONDENT : SRI P.ANIL MUKHERJI

THE HON'BLE SRI JUSTICE C.V.NAGARJUNA REDDY COMPANY APPLICATION No.1385 of 2014 and COMPANY PETITION No.6 of 2014 COMMON ORDER:

Company Application No.1385 of 2014 is filed by the former Director of the respondent in Company Petition No.6 of 2014 for setting aside the winding up order, dated 22.09.2014 in Company Petition No.6 of 2014 on payment of the sum of Rs.11,53,720/- to the petitioner in the Company Petition.

This Court by order, dated 22.09.2014 in Company Petition No.6 of 2014 ordered winding up of M/s.Triveni Poly Plast Private Limited, the respondent in the Company Petition, for non-payment of the debt due to non-applicant No.1 in the Company Application. In pursuance of the said order, paper publication is also carried out. As noted above, the Company Application is filed for setting aside the said order.

At the hearing, Sri Y.Koteswara Rao, learned counsel representing Sri Y.Ratnakar, learned counsel for non-applicant No.1 submitted that as undertaken by the applicant, the entire due amount of Rs.11,53,720/- was paid by him on behalf of M/s.Triveni Poly Plast Private Limited and that his client has no objection for recalling order, dated 22.09.2014 in Company Petition No.6 of 2014. In view of the above submissions, Company Application No.1385 of 2014 is allowed. Order, dated 22.09.2014 in Company Petition No.6 of 2014 is recalled and the Official Liquidator is discharged. The Official Liquidator is however given liberty to

approach this Court for reimbursement of the expenditure, if any incurred by him in taking possession of the assets of M/s.Triveni Poly Plast Private Limited.

Accordingly, Company Petition No.6 of 2014 is disposed of as settled out of Court.

C.V.NAGARJUNA REDDY, J 24th MARCH, 2015.

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