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IN THE HIGH COURT OF KARNATAKA AT BENGALURU
LALITHA KANNEGANTI, J
United Breweries (Holdings) Limited – Appellant
Versus
Official Liquidator, M/S Kingfisher Airlines Limited – Respondent
| Table of Content |
|---|
| 1. appointment of liquidator and winding-up process. (Para 2 , 3) |
| 2. jurisdiction of the court in liquidation matters. (Para 4 , 11 , 12) |
| 3. need for consolidation of proceedings in winding-up. (Para 5 , 8 , 19 , 21) |
| 4. jurisdictional arguments regarding the transfer. (Para 6 , 7) |
| 5. interpretation of section 446 and its implications. (Para 9 , 15 , 20) |
| 6. effect of amendments on court powers. (Para 10 , 18) |
| 7. order granting transfer of the suit. (Para 22) |
ORDER :
LALITHA KANNEGANTI, J.
The Official Liquidator has filed C.A.No.434/2024 in C.A.No.3/2017 in COP No.57/2012 & others seeking following reliefs:
a) To be pleased to consider this application and transfer the existing Original Suit vide O.S 6406 of 2012 to this Hon'ble Court.
And
b) to pass such orders or directions as it may deem fit in the facts and circumstances of this Application.
2. Learned counsel appearing on behalf of the Official Liquidator submits that M/s. United Breweries (Holdings) Limited (hereinafter referred to as 'UBHL' for short) was ordered to be wound up by the order dated 07.02.2017 passed in Company Petition No.57/2012 and the Official Liquidator has been appointed as Liquidator of the Company by
The court confirmed its jurisdiction to transfer pending claims relating to a company in liquidation, reiterating the objectives of Section 446 of the Companies Act to streamline litigation and ensur....
The court emphasized that discretion under Section 466 of the Companies Act must consider public interest and prior judicial findings, not merely creditor consent.
The discretion to transfer winding up proceedings to NCLT under Section 434(1)(c) of the Companies Act must prioritize potential corporate revival, and no irreversible actions should have occurred.
The Companies Act, 2013 bars civil court jurisdiction in company disputes, mandating adjudication by the National Company Law Tribunal.
Winding-up proceedings must be transferred to the National Company Law Tribunal unless irreversible actions have occurred, emphasizing the urgency and procedural mandates of corporate insolvency law.
The main legal point established in the judgment is the obligation to transfer winding-up proceedings to the NCLT in the absence of irreversible or exceptional circumstances, as per the amended Secti....
Share transfers made after the commencement of winding up are void unless sanctioned by the court, and must be justified as beneficial to the company.
The winding up of a company does not absolve the personal liability of its directors for offences under Section 138 of the Negotiable Instruments Act, and such criminal proceedings can continue despi....
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