Home Case Index All Cases Companies Law Companies Law + Tri Companies Law - 2018 (1) TMI Tri This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (1) TMI 1594 - Tri - Companies LawWinding up petition - direction to the company for repayment to the deposit holders - Refund of Fixed Deposits amount with interest - section 73(4) of the Companies Act, 2013 - case of petitioner is that in spite of the maturity period is over, fixed deposit amounts have not been returned to them by the company - HELD THAT:- Section 446 of the Companies Act, 1956 says that no legal proceedings shall be commenced after winding up order has been made or the official liquidator is appointed as provisional liquidator, except by leave of the court. In the case on hand, winding up Petition No. 35 of 2013 filed under the provisions of the Companies Act, 1956 is pending before the hon'ble High Court of Madhya Pradesh by the date of filing of this petition under section 73(4) of the Companies Act, 2013 - It is a fact that, the petitioners did not obtain leave of court at the time of filing this petition or during the pendency of this proceedings. In view of the pendency of winding up Petition No. 35 of 2013 and in view of section 446(1) of the Companies Act, 1956, proceedings filed by the deposit holders cannot be proceeded with at the instance of deposit holders against Plethico Pharmaceuticals Ltd. In fact, the petitioners are entitled to their deposit amount with unpaid interest at the agreed rates and the company has to make payment of such amount on par along with other creditors and other liabilities - petition disposed off.
|