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MS MEGHA BANGALORE RAJASHEKARA v. SRS TRAVELS AND LOGISTICS PRIVATE LIMITED
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NC: 2024:KHC:51747
WP No. 34057 of 2024
IN THE HIGH COURT OF KARNATAKA AT BENGALURU
DATED THIS THE 16TH DAY OF DECEMBER, 2024
BEFORE
THE HON'BLE MR JUSTICE HEMANT CHANDANGOUDAR WRIT PETITION NO. 34057 OF 2024 (GM-RES)
BETWEEN:
MS. MEGHA BANGALORE RAJASHEKARA
D/O K.T. RAJASHEKHARA,
AGED ABOUT 47 YEARS,
NO.79, SREESHA H.B. SAMAJA ROAD,
BASAVANGUDI, BANGALORE-560 004,
HOLDING
PAN : ACKPR6543H
DIN : 03514758
PHONE 9845305550
EMAIL MEGGA2210@GMAIL.COM …PETITIONER
(BY SRI. D.R. RAVISHANKAR, SENIOR COUNSEL FOR
SRI. ROHITH R KAMATH, ADVOCATE)
AND:
1. SRS TRAVELS AND LOGISTICS PRIVATE LIMITED
A COMPANY REGISTERED UNDER
COMPANIES ACT 1956,
REGISTERED ADDRESS- 321,
T.S.P ROAD, KALASIPALYAM,
BANGALORE,
KARNATAKA- 560 002, WITH
CIN: U63040KA2012PTC064592
PAN: AARCS6955
GST 29AARCS6955J1ZC
PH. 080-26801616 EMAIL: MAILS@SRSTRAVELS.NET
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2. DEEPAK RAMAKRISHNA
S/O RAMAKRISHNA,
AGED ABOUT 51 YEARS,
RESIDING AT AADARSH NEST,
102 FIRST FLOOR, 3RDCROSS,
1STPHASE, JP NAGAR,
BANGALORE-560 078.
PAN: AJVPD8610M
DIN: 09202173
MOBILE- 91-9980760164 EMAIL-DEEPAKRKV@GMAIL.COM
3. REGISTRAR OF COMPANIES
E WING, 2NDFLOOR,
KENDRIYA SADAN, ITTH CROSS,
KORAMANGALA,
BENGALURU 560 034,
E-MAIL: ROC.MCA@GOV.IN
PHONE 0802553853
4. IKF FINANCE LIMITED
40-1-144, CORPORATE CENTRE, M.G. ROAD, VIJAYAWADA- 520 010, PH. 91-40-69268999
EMAIL: IKFFINANCE@GMAIL.COM …RESPONDENTS
THIS W.P. IS FILED UNDER ARTICLES 226 AND 227 OF
THE CONSTITUTION OF INDIA PRAYING TO DIRECT THAT THE
HONBLE NATIONAL COMPANY LAW TRIBUNAL, BENGALURU
HERE THE MATTERS ON RECORD IN CP NO. 90/2024 PENDING
BEFORE EXPEDITIOUSLY WITHOUT DELAY AND ETC.
THIS PETITION, COMING ON FOR ORDERS, THIS DAY,
ORDER WAS MADE THEREIN AS UNDER:
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CORAM: HON'BLE MR JUSTICE HEMANT CHANDANGOUDAR
ORAL ORDER
The caveator is not a party in the petition. Office to delete the name of the counsel representing the caveator from the cause list.
2. Heard, Sri.D.R.Ravishankar, learned Senior Counsel representing for the petitioner counsel.
3. The Petitioner is a shareholder holding upto
99.99 % of the shareholding of the respondent No.1 - company. The respondent No.2 is the Director. The petitioner is also a guarantor / co-borrower of several assets belonging to the respondent No.1 company.
4. The petitioner has initiated proceedings under Section 242 of the Companies Act, 2013 before the National Company Law Tribunal in CP.No.90/2024, wherein the said the Tribunal vide order dated 16.10.2024 had restrained the petitioner from alienating the assets belonging to the company.
5. The petitioner had filed an application to sell the assets/Buses of SRS Travels and Logistics Private Limited, so as to utilize the proceeds of the sale, for repayment of loans availed by the respondent No.1 - Company to prevent any claims of lenders against the personal properties of the petitioner and to prevent the indiscriminate dissolution of the assets belonging to the respondent No.2. The petitioner further alleges the respondent No.2 - Director has abstained from
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performing his duties, in breach of his fiduciary duty towards the company and it shareholders.
6. The grievance of the petitioner is that the said application has not been considered as of today. Therefore, it is expedient to dispose of the petition, directing the National Company Law Tribunal, Bangalore, to dispose of the application filed for selling the assets/Buses belonging to the 1strespondent in accordance with law within a period of one week from today.
Hand delivery ordered.
Sd/-
(HEMANT CHANDANGOUDAR)
JUDGE
TIN
List No.: 1 Sl No.: 2
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