Home Case Index All Cases Companies Law Companies Law + AT Companies Law - 2023 (3) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2023 (3) TMI 75 - AT - Companies LawScheme of amalgamation - suit for specific performance - Direction to amend the schedule of property attached to the Approved scheme removing New Mill Factory Estate from property scheduled - HELD THAT:- From the facts it appears that the HMCL filed Civil Suit for Specific Performance of Contract on the basis of agreement against FGIL. The said suit being CS No. 168 of 2009 is still pending before the High Court of Calcutta wherein the Respondent was substituted as plaintiff on the basis of agreement dated 12.02.2009 (on record). The civil dispute with regard to North Mill Estate is pending for consideration before the Hon’ble High Court of Calcutta. On the other hand, the FGIL has also filed title suit No. 987 of 2015 before the Learned Civil Judge (Junior Division, First Court, Uluberia) for possession of that property against the Respondent. From the record, it is evident that a Civil Suit No. 168/2009 is pending before the Hon’ble High Court of Calcutta with regard to the dispute passing of title of the suit property i.e. North Mill estate. Further, it is also on record that prior to filing of reply affidavit by the Appellant, the Appellant on or about 16.08.2019 filed a Suit bearing No. 192/2019 in Uluberia Court for ejectment of the Respondent No.1 from the North Mill property. It reveals that certain proceedings / suits are pending with regard to claim of title to the North Mill Estate property. The contention of the Respondent that the Appellant did not disclose with regard to the pendency of civil disputes and it is mandatorily to make a disclosure under Section 230(2) of the Companies Act, 2013. Since the Appellant included the North Mill property as the property in the scheme of amalgamation, therefore, all the details with regard to the said property ought to have been disclosed in the scheme. However, the Appellant failed to do so. Appeal dismissed.
|