Adhunik Grihanirman Vittiya Corpn. Ltd. Dhantoli v. Jitendra S/O Ramlal Desai And Others

1 25-cal-22-25.odt

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

NAGPUR BENCH AT NAGPUR COMPANY APPLICATION (CAL) NO. 22/2025 IN COMPANY PETITION NO. 1/2008 Ex-Director of Adhunik Grih Nirman Vittiya Corporation Ltd. Vs. Official Liquidator Office Notes, Office Memoranda of Coram, Appearances, Court's orders or directions and Registrar's orders Court's or Judge's orders Mr. Shriniwas Deshpande, Advocate for Official Liquidator with Mr. Deepak Persoya, Official Liquidator CORAM: ANIL L. PANSARE, J.

DATED : 13th JUNE, 2025 1.

By the present application, the applicants are seeking one more opportunity to comply with the order dated 02.02.2024 and to deposit the entire amount. The another prayer is for recall of the order dated 24.01.2025. So far as order dated 02.02.2024 is concerned, the counsel is seeking time. As regards order dated 24.01.2025, this Court took aid of the provisions of the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 1999 and took a view that the provisions of the MPID Act have over riding effect over the provisions of the Companies Act, 1956. This Court in Company Petition No. 3 of 2010 (Sanjay Bhayyaji Nimbulkar Vs. M/s Mahadeo Land Developers) dated 21st March, 2025, after relying upon the judgments cited by the parties, took a view that the MPID Act will not have over riding effect over the provisions of

2 25-cal-22-25.odt the Companies Act, 1956 and, therefore, the company petition will continue.

2.

In that view of the matter, the order dated 24.01.2025 is recalled.

3.

List on 27.06.2025 for further consideration as regards to the order dated 02.02.2024.

(ANIL L. PANSARE, J.) MP Deshpande Signed by: Mr. M.P. Deshpande Designation: PA To Honourable Judge Date: 13/06/2025 18:50:28