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2022 (7) TMI 663 - Tri - Companies LawRequest to implead M/s. Avadh Projects (proposed respondent no. 6) as a party in the main company petition - seeking impleadment on the ground that said M/s. Avadh Projects has purchased the assets of the respondent no. 1 company during the pendency of the main company petition when there is an order of status-quo to maintain the fixed assets of the company - maintenance of start quo - HELD THAT:- The petitioner, having lost in Civil Court way back in the year 2017, has come out with this application. It is seen from the material on record that proposed respondent no. 5 had purchased the assets of respondent no. 1 company prior to filling of main company petition. Before purchasing the assets, a notice was published calling upon the objections. The proposed respondent no. 5 may be a bonafide purchaser of the assets. He cannot be dragged into this litigation at this stage, more particularly, when the issue that "whether the proposed respondent no. 5 is a bonafide purchaser of the assets?" is still pending before the Civil Court. This Tribunal in its limited jurisdiction cannot decide the above civil rights of the parties. Moreover, the issue that whether the main company petition itself is maintainable or not is still pending for consideration of this Tribunal. If the finding on that issue goes against the petitioner, then, the main company petition itself is required to be dismissed and this application also would thereby become infructuous - the petitioner alleged that the proposed respondent no. 6 purchased the assets though there was an order of status quo to be maintained relating to the fixed assets of respondent no. 1 company. This application is not maintainable at least at this stage - Application dismissed.
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