Bell Finvest (India) Ltd. v. Control Automation Projects Pvt. Ltd. Cin No. U31403mh2006ptc163936

1/2 901.CP-545-2016.doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY PETITION NO.545 OF 2016 WITH SHOW CAUSE NOTICE NO.145 OF 2019 IN COMPANY PETITION NO.545 OF 2016 Bell Finvest (India) Limited ....Petitioner V/s.

Control Automation Projects Pvt. Ltd.

....Respondent ---- Mr. Vinit J. Mehta i/b. Mr. Pravin Warpe for petitioner. Mr. Deepak Chitnis i/b. Deepak Chitnis Chiparikar and Co. for respondent. (Mr. Roshan Sane, Mr. Sanjay Sane and Mr. Romir Sane). Mr. Mahendhar Aithe, Company Prosecutor present. ---- CORAM : K.R.SHRIRAM, J.

DATED : 9th APRIL 2021 P.C. :

Mr. Chitnis states that the ex-directors of respondent company have deposited Rs.7,50,00,000/- with the Official Liquidator as recorded in the order dated 30th March 2021. Mr. Aithe confirms receiving the same. Mr. Mehta appearing for petitioner undertakes to deposit all title documents with the Official Liquidator. After this statement was recorded, Mr. Mehta stated that his instructions are that petitioner shall not deposit the title documents with the Official Liquidator. Therefore, Official Liquidator is directed to return the amount of Rs.7,50,00,000/- to Mr. Chitnis's clients. Since the ex-directors of respondent company have deposited the amount of Rs.7,50,00,000/-, which Gauri Gaekwad

2/2 901.CP-545-2016.doc has been returned to the ex-directors due to the conduct and unreasonable stand of petitioner, the question of continuing the show cause notice as per the order dated 5th March 2020 does not arise. Show cause notice stands discharged.

Matter to come up as per CMIS date.

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