Transcheme Ltd. v. Firstcorp International Ltd And 6 Others

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY APPEAL NO.38 OF 2015 IN CLB COMPANY PETITION NO.21 OF 2014 WITH COMPANY APPLICATION NO.36 OF 2015 IN COMPANY APPEAL NO.38 OF 2015 IN CLB COMPANY PETITION NO.21 OF 2014 Transcheme Ltd.

....Applicant/Appellant V/s.

Firstcorp International Ltd. & Ors.

....Respondents ---- Mr.Iqbal Chagla, Sr.Advocate with Mr.Riyaz Chagla, Mr.Zal Andhyarujina, Mr.Hursh Meghani, Mr.Neerav Merchant, Mr.Bharat Merchant and Mr.Ishwar Ahuja i/by Thakordas Madgavkar for the applicant/appellant.

Mr.C.S.Gupta with Mr.Rajesh Chaudhary i/by RKC Legal for the respondents.

---- CORAM : K.R.SHRIRAM,J DATE : 2.12.2015 P.C.:- The learned Senior Counsel appearing for the applicant/appellant as well as learned Counsel for the respondents were heard. But after some time the counsel for the respondents, in fairness, stated that the Company Law board will have jurisdiction and the matter be remanded back to Company Law Board for hearing on merits. In view thereof, the order and judgment dated 26.3.2015 impugned in this appeal is set aside. The matter is

remanded back to Company Law Board to consider the Appeal No.21 of 2014 entirely on its own merits. The rights and contentions of the parties are kept open.

Company Law Board to hear and decide Company Application No.29 of 2014 after hearing and disposal of Company Appeal No.21 of 2014.

Appeal accordingly stands disposed.

All parties to act on a copy of this order duly authenticated by the Associate of this Court.

(K.R.SHRIRAM,J)

CERTIFICATE Certified to be true and correct copy of the original signed Judgment/Order.