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2021 (2) TMI 16 - Tri - Companies LawSeeking to wind up the respondent company - seeking direction to existing management of the Respondent No. 1 Company to peacefully cooperate with the Provisional Liquidator to carry out his duties under the Companies Act, 2013 - Jurisdiction of this Tribunal to deal with the subject matter - HELD THAT:- The Tribunal is conferred with exclusive jurisdiction to deal all matters arise out of provisions of Companies Acts, 1956/2013, as case may be. Section 430 ousts jurisdiction of Civil Court over the matters, the Tribunal is having jurisdiction. By perusal of investigation reports by CBI and the actions taken by other statutory Authorities, the incorporation of R1 Company and obtaining a contract in a fraudulent manner that too within a short time, without having requisite experience, would not justify its continuance on the rolls of Registrar of Companies, Bangalore. Though various proceedings are pending against the Award in question, there is no bar to initiate the present proceedings. It is unheard that a Company incorporated hardly one and half months earlier, can able to get a Contract from the Govt. of India, that too without having any technical experience in the relevant field. Therefore, without prejudice to the rights of Parties in the litigation pending before the Hon'ble High Court of Delhi and the Hon'ble Supreme Court, the Tribunal can exercise its powers conferred on this Tribunal, under Chapter XX Part 1 of Companies Act, 2013, to appoint provisional Liquidator before passing final winding up order, which would be decided after hearing the Parties. Since the R1 Company has suffered various adverse findings with cogent evidence at the hands of various Statutory Authorities, as detailed supra, it would not be proper to permit R1 Company to continue its name on the rolls of Registrar of Companies, Bangalore. Therefore, in terms of provisions of Section 283 of Companies Act, 2013, it would be just to permit Provisional Liquidator to forthwith take into his or its custody or control all the property, effects and actionable claims to which the R1 Company is or appears to be entitled to and take such steps and measures, as may be necessary, to protect and preserve the properties of the R1 Company and to avoid misuse of its property. It is settled position of law that principles of natural justice mandates judicial forums to afford reasonable opportunity to other side before passing any order by judicial Authorities. However, Courts/Tribunal are empowered to pass appropriate Ad Interim/interim order at the stage of admission itself, if circumstances, in a case justifies for passing such interim order(s). In the instant case, it is not in dispute that R1 Company was given notice though it was short for duration and thus their Counsels appears before the Tribunal and advanced their arguments on merits of the case. Prima facie case is made out by the Petitioner in favour of granting interim order as prayed for. It is just and proper to appoint Provisional Liquidator to take control of the affairs of R1 Company pending final adjudication of main petition for winding up. Petition admitted.
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