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2017 DIGILAW 362 (KAR)

State Bank of India v. United Breweries (Holdings) Limited

2017-02-07

VINEET KOTHARI

body2017
JUDGMENT : This Company Application is filed under Section 446, 537 and 539 of the Companies Act, 1956 r/w Rule 6 & 9 of the Companies (Court) Rules 1959, praying to direct the Respondent No.1 (UBHL) to forthwith deposit the entire sale proceeds realized from sale of shares (13,612,591 equity shares) of United Spirits Limited made pursuant to the order dated 24/05/2013 passed by the Hon’ble High Court of Karnataka in CA Nos. 437, 438, 439, 440 & 441 of 2013 filed in Co.P. Nos. 57, 121, 122, 185 & 248 of 2012 and consequently direct that the said amounts be released to the Applicants, in the interest of justice and equity. This Company Application having been reserved for Orders on 11-01-2017, coming on for Pronouncement of Orders this day, Dr. Vineet Kothari, J, made the following:- ORDER : 1. This Company Application is filed by the Applicants Banks to direct the Respondent No.1 (UBHL) to forthwith deposit the entire sale proceeds realized from sale of shares (13,612,591 equity shares) of United Spirits Limited made pursuant to the order dated 24/05/2013 passed by the Hon’ble High Court of Karnataka in Company Application Nos. 437, 438, 439, 440 & 441 of 2013 filed in Co.P. Nos. 57, 121, 122, 185 & 248 of 2012 and consequently direct that the said amounts be released to the Applicants. 2. In view of disposal of main Company Petition No. 122 of 2012, this Company Application stands disposed of.