ADBHUT VINCOM (P) LTD Vs. HOTEL BIRSA (P ) LTD AND ORS
LAWS(NCLT)-2016-8-14
NATIONAL COMPANY LAW TRIBUNAL
Decided on August 04,2016

ADBHUT VINCOM (P) LTD Appellant
VERSUS
HOTEL BIRSA (P ) LTD AND ORS Respondents




JUDGEMENT

- (1.)The instant CA No. 306/2016 is filed by the applicant, Libra Retailers (P.) Ltd. for intervention in main CP No. 370/2010 filed under section 397 and 398 of the Companies Act, 1956 ('the Act'). The applicant herein states that on 27th January, 2016 they came to know that CP No. 370 of 2010 has been instituted by the petitioner, Adbhut Vincom (P.) Ltd. against Hotel Birsa (P.) Ltd. and others in 2010 before the Company Law Board, Kolkata.
Immediately thereafter the applicant through its advocate on record on 5th April, 2016 approached the Company Law Board, Kolkata Bench for a certified copy of the petition. However, as the applicant is not a party to the said CF No. 370/2010 they were not provided with certified copy thereof.

(2.)The applicant in the said CA No. 306/2016 states that they have entered into a memorandum of understanding ('MoU') dated 29th September 2009 for acquisition of 2,08,250 fully paid-up equity shares of the total face value of Rs. 2,08,25,000 owned by the petitioner in CP No. 370 of 2010 in the respondent No. 1-company with right of allotment or further allotment and the applicant will purchase such shares for a valuable consideration.
(3.)However, in 2013 Adbhut Vincom (P.) Ltd. had instituted a Title Suit No. 172 of 2013 [Abdhut Vincom (P.) Ltd. v. Libra Retailers (P.) Ltd.] before the Civil Judge (Senior Divisional at Ranchi relating to the MoU dated 29th September, 2009 claiming various reliefs as stated in the said Title Suit No. 172 of 2013.
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