Krishna Sheet Processors Pvt Ltd v. Narmada Offshore And Technical Services Private Limited Cin U3511mh1990ptc058625

1/2 44.CA-204-2016.doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY APPLICATION NO.204 OF 2016 IN COMPANY PETITION NO.1180 OF 2015 Krishna Sheet Processors Pvt. Ltd.

....Applicant/Petitioner Vs.

Narmada Offshore & Technical Services Pvt. Ltd. ....Respondent ---- Mr. Niraj Shah i/b. Law Chamber of Siddharth Murarka for applicant/ petitioner.

None for respondent.

---- CORAM : K.R.SHRIRAM, J.

DATE : 9th JANUARY, 2018 P.C.:

Heard the counsel for applicant and also considered the affidavit in support. At the time when the petition was admitted on 27th June, 2017, applicant did not press for appointment of Provisional Liquidator.

The foundation for this application can be found in paragraph 4 of the affidavit in support and the same reads as under : "4. It is now learnt that the Respondent Company is in the process of diverting/disposing of some of its assets to the false enrichment of the Directors. Infact this is based on information provided by some one associated with the company, who does not wish to reveal his identity. The Applicant is not able to verify the same, but has reason to believe the same to be true. Hence to ensure such things do not happen it is just and necessary that the company be put in the hands of the Provisional Liquidator, rather than the promoters, who are falsely and neglecting their liabilities also even avoiding to reply the notices and are damaging the public interest and economy, by malpractices and falsehood."

Gauri Gaekwad

2/2 44.CA-204-2016.doc These are nothing but speculations without an iota of evidence. Parties cannot take out such applications and expect reliefs without substantiating their cause.

In the circumstances, application stands dismissed. (K.R. SHRIRAM, J.) Gauri Gaekwad