Asset Reconstruction Company (India) Limited, v. M/S. Sanghi Polyesters Limited (In Liquidation)

THE HON'BLE SRI JUSTICE CHALLA KODANDA RAM COMPANY APPLICATION No. 212 OF 2016 O R D E R:

This Application was filed under Section 536 of the Companies Act, 1956 to declare the transfer / sale of 5412800 shares held by M/s Sanghi Polyesters Limited in M/s Sanghi Industries Limited which have been illegally transferred after winding up of the company, as null and void and consequently, direct Respondents 3 to 7 not to effect the said transfer. Sri P. Sriharsha Reddy, learned counsel for the petitioner seeks permission of this Court to withdraw the Company Application, for which, the learned counsel for the Official Liquidator has expressed no objection.

In view of the same, the Company Application is dismissed as withdrawn.

_____________________________ CHALLA KODANDA RAM, J 19th July 2019 ksld