M/S Oswal Minerals Ltd v. Suneem Industries Pvt Ltd Cin U74900mh2006ptc165860

1/1 46.CA-738-2015.doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY APPLICATION NO.738 OF 2015 IN COMPANY PETITION NO.680 OF 2015 M/s. Oswal Minerals Limited ....Applicant/Petitioner Vs.

Suneem Industries Pvt. Ltd.

....Respondent ---- Mr. Niraj Shah i/b. Mr. Siddharth Murarka for applicant/petitioner. None for respondent.

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

DATE : 27th NOVEMBER, 2017 P.C.:

The entire basis for this application is as contained in paragraph 2 of the affidavit in support. The averments only states that "it is now learnt the respondent company is in the process of disposing of its assets, ...................... as per market sources directors' application to BIFR protection has been refused".

These are nothing but speculations and there is no shred of evidence to state how did they learnt and which are these market sources. Based on these averments, the Court cannot appoint the Official Liquidator as Provisional Liquidator.

Therefore, application stands dismissed.

(K.R. SHRIRAM, J.) Gauri Gaekwad