IIT CAPITAL SERVICES LTD Vs. KEDIA DISTILLERIES LTD

JUDGEMENT

(1.) IT is a company petition filed under Section 433 (C) of the Companies Act by the petitioner seeking winding up of the respondent Company. It is not in dispute being a matter of record that this Court has already entertained and admitted one Company petition being Company Petition 9 of 1996, Jindal Papers and Plastics Ltd. v. Kedia Distilleries Ltd. , against this very company for its winding up. In that petition, a direction, to advertise the petition in terms of Company Court Rules as also other consequential directions are also issued for compliance to enable this Court to proceed ahead.

(2.) IN a situation like the one where this Court has already entertained one Company Petition for winding up of the same Company referred supra and has also made directions for its advertisement enabling all the creditors to submit their claims, there is no need to entertain or if entertained then to keep this petition pending for its final disposal inter alia for the reason that petitioner can and rather has to submit all his/their grievances in the form of their claim which they may have against the respondent Company in a Company Petition No. 9 of 1996. This Court will have to examine the claims of all creditors in Company Petition No. 9 of 1996 because, once any company petition for winding up is admitted and advertised in terms of Rules against the Company, then it ceases to be a petition on behalf of one creditor petitioner but it becomes a petition for and on behalf of several creditors in its representatives capacity who have a claim against the Company (in liquidation ). The petitioner can have no grievance because this Court has granted liberty to raise their grievance/claim in a Company Petition No. 9 of 1996 for its adjudication as per procedure prescribed under the Rules. After all, this petitioner is also asking for the same relief i. e. winding up of the same respondent Company which is already being considered in Company Petition No. 9 of 1996.

(3.) ACCORDINGLY and in view of aforesaid discussion, I dismiss this Company Petition by granting liberty to the petitioner to submit their claim/grievances by making an appropriate application in Company Petition No. 9 of 1996.