KESHAV PRASAD MISHRA Vs. STATE OF MADHYA PRADESH

JUDGEMENT

(1.) Heard through Video Conferencing.

(2.) Learned counsel for the applicants urged that applicant No.1 was working as General Manager(Geophysics-Wells) in Oil & Industrial Gas Commission (ONGC). He retired from the said post on attaining the age of superannuation in October, 2010. Although he got certain other offers in other government institutions, he was pursuaded by his brother-in-law Shikant Dixit and his friend Shri Ram Kripal Jadia resident of Panna to join them for establishing an industry in Mandideep Industrial Area, District Raisen. In view of the said request, petitioner alongwith Shikant Dixit, Ram Kripal Jadia and Smt. Sharda Pathak got a Limited Liability Partnership registered with Registrars of Industries on 12.05.2011. Last partner Smt. Sharda Pathak disassociated herself in December, 2011 and Smt. Varsha Pathak and Shri Prashant Jadia joined as new partners.

(3.) Shri Sankalp Kochar, learned counsel for the applicants submits that the State Bank of India sanctioned a loan of Rs.398.70 lacs to the Firm on 23.09.2013/30.06.2014. The Factory was inaugurated on 08.03.2015 in the presence of all partners and their relatives.