CITIBANK N. A. Vs. GEODESIC LIMITED

JUDGEMENT

(1.) Both the above Applications have been filed by the Applicant/Petitioner. On 7/4/2014, this Court passed an order in Company Application No. 625 of 2015 (CAL 153 of 2014) under which the Respondent Company was directed to deposit a sum of USD 162 Million in a no lien account with a Citibank branch in London or Hong Kong as nominated by the Petitioner. This was to be done on or before 28/4/2014. The order further recorded that in the event Respondent Company fails to make the deposit as aforesaid, the Official Liquidator, High Court, Bombay shall stand appointed as the Provisional Liquidator of the Respondent Company as also all its assets and properties.

(2.) I am informed that since no deposit was made, the Provisional Liquidator stood appointed and has in fact taken charge of the assets of the Company some time during the months of May and June 2014. The above Company Petition was thereafter also admitted vide order dtd. 9/7/2014.

(3.) The learned Advocate appearing for the Applicant/Petitioner has fairly stated that in light of the order dated 7 th April, 2014, nothing now really survives in Company Application No. 68 of 2014 and the same can be disposed of in light of the said order.