R
IN THE HIGH COURT OF KARNATAKA AT BENGALURU
BEFORE
And:
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****
ORDER
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Act, 1985.
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whose writ petitions were pending in this Court for their claim
for enhanced salary and wages and who are now represented
application.
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Government of Karnataka Vs. NGEF Limited (in liquidation)
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KSIIDC and they were paid of under the settlement with the
for public projects like that of BMTC, KSRTC and Metro Rail
projects etc. and upon acquisition of that part of the land, for
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is yet to be received.
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below:
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Court that the said land of 119.665 Acres in question will not
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Court.
466 of the Companies Act, 1956, does not provide for any
such recall of the winding up order by this Court and even for
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this Court intends to follow in the present case. But the facts
in that case were very different from the facts of the present
the Company, while the creditors and workers were not yet
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Government of Karnataka Vs. NGEF Limited (in liquidation)
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its order dated 20.06.2008 and that fact was also duly noted
Liquidator (MANU/WB/0010/2010).
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of the case.
the bar and upon perusal of the record, this Court is satisfied
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221 Acres, when it went into liquidation in the year 2004 and
and the orders of this Court and the acquisition of the 50.36
acres of such land by the State for public projects like that of
been able to pay off all its secured and unsecured creditors
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Sections 425 to 560 of the Act is to see that all the limited
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VII of the Act and then to ensure that the assets of the
during the process of winding up, the sale of some assets are
left with surplus assets, it can certainly apply to the Court for
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guiding factor only being that wider the powers are of the
Act enacts the power of the Court (now Tribunal) to stay the
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reference:-
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Homes (P) Ltd. Vs. Shree Niwas Girni K.K. Samiti and
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Court in the facts of that case and on the other hand, the
and none else, not any of the creditors of the Company. Even
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that the huge land of 119.665 acres of land will be used exclusively
also from the averments and Undertaking of the State and there
close supervision by this Court and the cause of public will not be
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from the sale of all the assets of the Company. The said
may still have the option to sell its shares back to the
Act. But that is not an issue before this Court at this stage.
24. The facts of the present cases are poles apart from
the fact situation before the Calcutta High Court in that case
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others (supra), the Hon’ble Apex Court held that the winding
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follows:-
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follows:-
follows:
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(2012 SCC Online Bom. 1497), the Mumbai High Court has held at
para.16 as under:
33. The legal position therefore which emerges is, that there
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Karnataka itself and this Court is not only satisfied but records its
chunk of land for public purposes and for that purpose seeking its
process under Section 466 of the Act at this stage, Section 466 of
the Act provides for a platform to the Company Court to not only
its assets which are free from the charge of the creditors and
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case, is best utilized for the larger public interest and therefore this
Court does not see any impediment or valid objection against such
before this Court. It has already been noted above that none of
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learned counsel for the workmen also fairly submitted that such
State of Karnataka.
along with their relevant evidence, can approach either the said
Company.
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this Court also directs and enjoins upon the State to undertake
lung capacity and fresh air to the otherwise dying Garden City of
Bengaluru.
With its first quarterly report, State shall submit the details
Acres of land, with types of the trees and the site photographs of
future as well.
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the assets and records of the Company with the Status Report as
of this Court.
the public purposes with due approval of this Court only in the
aforesaid manner, this Court may even recall or modify this order
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evidence.
from time to time, after the end of every quarter, the first Report to
the said land of 119.665 acres only for public projects and
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the Court and without the specific approval of this Court, the said
utilization of land and other assets for such public purposes shall
period of one month from today, for the information of the public at
large for whose benefit the aforesaid order and directions have
Sd/-
JUDGE
Srl/BMV*