M/S Jagatjit Brown Forman(India) Ltd v. Kerala State Beverages Corpn

~-. 'i~ fl l :I,, I il ! I . 'jill· ' .. . •: 1:· .·~~~.- I iJI ~l. / .. ,. . r, ., I ... ' ·- : . .. . II ' l ~ . ., ,.• !i· . . ,/ · .. :': .~·lPf' · .. ·. / . · ~ ' :1. .• . • . ·.' ..... ' . . . .- 22 to 55 . ·· ~ .· .: %· 26.05.2011 .-·_:·. I' • • • • ~ • ., . Present: Mr. ·Anil Airi, ·Advocate with Mr. Siddharth Bawa, Advocate ·, ·: for Jagatjit Industries Ltd ... · ! . ' .. ' ' ... ~ :·. ' .: . · .. Ms. Bhanita, Advqcate for respondent sp Gupta and Sons: . . ... . . . . Mr.' Haslllnat Nabe; Advocate .for respondent in Co. Appl. (C) ·: .. ,· '.': . . .. . : : ~2/2008 ~ .. ·.. . ·.. ·. ~: Shri Singh, ·Advocate for respondent in Co.· Appl. (C) 40/2008.. .. . . . · ... ·· Mr. Fazlin Anam, Advocate & Mr. V.K. Gupta, Advocate for ~· ~espondent · iri. Co. Appl. (C) 44/2008;: 45/2008, 46/2008, 01}8:·. ·~· _.. :.::-,·_ .... 47/2008,52/20.08 & 54/2008. ,. · ·' < . :· . ·. · · · · ~ .· :. Mr,. Rajiv Bakshi, A4vo~ate in Co. Appl. (c) 51i2_008. . · : · Ms. Purnima Sethi, Advocate for Official Liquidator with Mr. · S.B .. G~utam, Official Liquidator. :.. : .. . · . . .· ··+_·:, ·:· Co. Appt (C) 4/2007 in Co.:Pet.439/1999. · . . . . . , .· . · + ·.-.... Co. Appt· (C) 1/2008 in Co. ·Pet.439/1999 , . :. . . . ~--· · +-'_: -Co. Appl. (C) 5/2008 in Co. ·Pet.439/1999 ,.- ... · . · .. ::. ··. :. + .'_.··':·.-Co. 'Appl.· (C)' 7/2008 in· Co~ Pet.439/1999 · .'.:.·.: ... >-'·· ... -t.: :· . ·: Co: Appt (C) 9/2008 in Co. Pet.439/1999 . , - ' .. · ... ·:. , .... ,·· .. :· :+> .···<co.·Appl. (C) 11/2008 Co. Pet.439/1999 -: · ... · ... · ... · . ·.. · . ~· ... · ·. Co. Appl. (C) 14/2008 in Co. Pet.439/1999. · · ·: :· .... ,~.· ~ .· +·.:·::-. . Co. Appl. (C)-15/2008 in Co: Pet.'439/1999. --_. .--~_: · :· >:-.; :, ·<:+. · ·:\,:;co>Appt· (C) 16/2008 in co.'· Pet.439/1999 · CD: ·rm.····.:~: · _..>. +><.::·:Co~ Appl. CC)" 17/2008 ~nCo; Pet.439/1999_ '"' · . + · ._:· Co. Appl. (C) 19/2008 m Co. Pet.439/1999 . ,: -: .. . +' . Co. Appl. {C) 20/2008 in Co. Pet.439/1999 · ... : -~. : ·: +, · ... :. Co .. Appl.. (C)' 24/2008 in Co. Pet.439/1999 . . .. . . \+ > -:.Co·. Appl. (C) 30/2008 in Co. Pet.439/1999 ·· .. ·.> ·. :. -·. + ··:_:Co. Appl. (C) 33/2008 in Co. Pet.439/1999' .. · . · ... ·.· : -~h···::,._. .. Co. Appl. (C) 35/2008 in Co. Pet.439/1999 ,· ·, ~·· · .. ·_::·. · .. :: +: .. > Co. Appl. (C) 40/2008 in Co. Pet."439/1999 · ._. · .. · · . :. :_ : .. : ·:-: ~ ~ _.;. ·: · Co>Appt (C) 42/2008-in Co~· Pet:439/1999 .-. . · .... · ::_~' ... ·.-~··:·-~-:,.-Co. Appl. CC) 43/2008 in:·co:Pet~439/1999_._ · · .. : . , .. :. ->: .. ; ..... ·.:+: \:···,Co. Appl. {C) 44/2008 in Co.· Pet.439/1999 ·. · · · ... · . · .-. ·f.:.~ .. ~ ·.Co. Ap.pl. (C) 45/2008 in' Co: Pet.439/1999 ... ·. :· .. ··. :.+: ... ·co. Appl. (C) 46/2008 in Co.-Pet.439/1999 : ' ... : ~ .... ~·- .:·· .·.. . .-;·:~ : ~. . . ' .. '. ;;: · . . . , ·.~ . . ' ' Certify that the digital file and physical file have been compared and the digital data is as per the physical file and no page is missing. ' '~.. . ... . , . . ·:: .. ~ ·• .' +.. ·:·.Co. App1. (C) 47/2008 in Co. Pet.439/1999 . : · :. ·. +.· .. · ·co. Appl. (C) 48/2008 in Co. Pet.439/1999. · . . · ... : · .. . +. ·. ,'·-' Co~·Appl. (C) 50/2008. in Co. Pet.439/1999 · : . . ·: +.:· · :: co·.··AppL (C) 51/2008 in .. Co.'.Pet.439/1999: . .. · .:·:. ·. .+ ... :~ ·co. Appl. (C) 52/2008 in Co .. Pet.439/1999 . . : >:.. ··. + ... -::Co. Appl. (C) 54/2008 in Co. Pet.439/1999 .· · ·. ·· . · . + · · ·· Co .. Appl. (C) 55/2008 in Co. Pet.439/1999 .: .·· ·. ·. :· :·:. + ... Co. Appt (C) 58/2008 in Co. Pet.439/1999 -· ;·_ · +. Co. Appl. (C) 62/2008 in Co.·Pet.439/1999 .: · · · .... + · :: Co. Appl.. (C) 63/2008 in Co. Pet.439/1999 : .·. · · . + .. · Co. Appl. (C) 65/2008 in Co. Pet.439/1999 .. ,:· . }-:. Co. Appl. (C) 66/2008 in Co. Pet.439/1999 . · *. · ·: ._(In tl~e matter ofM/s .. Jagatjit Brown Forman (India) Ltd.) fi't.''l'nl ~~· . · · · \Lt. Jll.il ..•. " .... .. •' .. ·~ . '. : '. : . . •. ._ . . "', ~. . . . ; . '·· On 23rd J\1ay, 2011~ this Court had passed the f~llowing order:- "Mr. ·A nil Airi, learned counsel along with Mr. ·siddharth .Bawa; learned counsel for _Nils. Jagatjit Industries states that ·the·. _company (In liqn.) .was a joint venture between Mls. Brown· Forman Maur~tius Limited and Mls. Jagatjit Industries. He states that the aforesaid joint venture had .. ;. . . ·turned (sour' ~ay· back in the. year, 1999.: He also states . ... · . · ... · · .. thai this Court vide detailed ·order dated 19th December, · · · .. -'· . · : 2003 ·appointed a Pr~visional Liquidator under Section . . .. · ·. 433(/) ofthe Companies Act; 1956. · Mr: Ani! Airi, learned · : < . qqunsel conterzds that ever since then, the foreign company :. :·: / : · :· nain~ly. Nils. Brown ··Forman Mauritius Limited.· has not " . . ·:; -~ . · :··:· ·: . shown .any :interest. in .the ~ompany (I~ liqn.).. He also states that Nils. Jagatjit Industries is also not interested in '· . reviving this company . : .. ,. .. . ,• ·] also asked Ms. Purnima Sethi,. learn~d counsel for ·.>; ·Official Liquidator as to whether any amqunt is due and ... .. · ·.··payable to. any secured or unsecured. creditor or to any ... ;·_ ::·: · ··. . . . · ·. . · · :_ workinan. She states that though n·a claim has been invited · · · ·.;:· .· .... · : __ ·~ · ..... , .. froJ~·th~ public at la~ge, bu{till date neither any-workman . : '. :·. . . ..-: ~ . ·. . .. rzor any secured or un_secured creditor ,ha~ filed any claim · ·. . · .... . :. ·. · . _. ... ·· · .. ·. . ·_: . with (he Official Liquicj.ator. : • ;- • • ':

¶4• • • • • • • ·~ ~ ' . \ : . • .• • . . • ) !· . .. . .. . :. · :_ · . ·. · · . · ·If t~is is ·the positio~, then· I fail to: Z:tnderstand as to why !• . .. ·· .. ;, . . .. ·. •,•,' . • ··~ f • . ·. ~ ~' . . , . , .. .. : > ... ' .- • ~.. • • '· ,· . ' ~ :' ··~ . · .. ·.·. ···:' '\ .·.; · .. '. ,, the ·official Liquidator is pursu_ing various claims against third parties. at great cost because even. if the Official Liquidator were S"?tCCessful in recovering. the money, the .. ; sam~ would; be 'refunded back to. the . contributories-who ' . . . '• are not interested in pursuing the proceedings any further. · :.· .. : .. ·.: · ... ·· · . , . ··.Consequently, .I d,irect ·the Offic~al Li~uidator to be .. ·. · ...... · .·. · · .. · · · · p~rsonally pres_ent before this Court on 261 May, 2011. . . ~~. . . ~ .- :. :.- ·. : : · · · · .. ·. · .. List the matters on i61h May,· 20JJ. "· .. .. . . . . . ' . • • · ' .. f. · ·. · · · ~ · ID:. pursuanc.e to the said order~ Mr .. S.B .. Gautmn, Official Ol)(l): .... " ~ ~ . . ' ' . . . '• · ... ' .. .. ·. '-··~. .• ,•o o I : . . ' .... fo • · ··. . ·Liquidator is personally present in Court .. He ·confirms that claims had . . : b~en invited in the Y~ar, 2~05 ~d ad~ertisem~nts ~ere published. in . . . ' ; . :· ~, ~Statesm~n' (~nglish) and 'Dainik iagran' (Hindi) on 29~ December, . ... · . . ' . . . . 2o.o:S. · .. He ·points ·ou~ that· d~spite. th~ hi.st ·d~te. of filing of the· claims . : : . ' :-· . . . •, . ~ . . ' . . ~ " -· ' . . . .:.:_·: :. . . ·. ··:: : :: . be~g .. 3l.s_t Jan~ar)r, _:2006;: no. ciaim either:· from· any se~ured or .. ' . ·. . . . .. : . '. . . ~ . . .. : '; ·~ ~~. . · .. ::::::· · .. :·::· ·. . . :.·::, lins.ec~ed creditor or froin any :Workmen ha~ been received. · · . ' : .. < .' .. ~.S.B. .Gau~,6fficial Liquidator states that a sum of • '. • • • • ' • • ~ • • " ' • • ~ .: ..... • t~ .... • ....... ~. • • ~ '::·~ ,. • ' ' &D~,>· :~::.'_ > ..... ·~· ':.~~:4,oo.,O,OO/~ ha~ be~n r~co;ered from s~le of two vehicles and frorn .· " . ' . . : ·. t . .'; . ~~me decrees passed under .section .446 of the Companies Act, 1956. . ,. . .. · ·:·. ·· .. ·. :·-· ;·. · · . ·. · .. : . . He also. stat~s that in ca_se _:no~ices ·have to b~ senred up~m ·the unserved ·. ·. > ' .•. , ' • · · J •. ·.·. · ~~spo~d~n~s in th~ ;arious applicatiOn: lis~d tod'IY and in those , ·i· :_. ··.-.:·:· · .. : . <· .... 'pe~cling befo~~ the Regi~tra~~ _th~· official 'Liquidator would. have to . .. >··: ... _: '·_,. . ':· ':.· ·.·. '.: .. : .·; .. ' ·.·: . . .· . ' : ·. . ·.' . . '.' :.:\· .. ;\ . . · ... > _· ·._}~~~r ~~p~ndi~e ~?~h Rs.},OO,OO_OI_~·:·. : ·: : : . . . . . '' •' ·;...... ... . . . " · .-: .. .':.·· ... - .··.: ..... ::·: .. ···.:Mi . .'9autam, Official Liquidator further candidly admits that ' { ' ": . . ( . -:. ~ . \ . ' ~ .. ~ ' . . .. , ... : ·- . ·-.~ : . . ~·· ~ .. '· -·· .- . ~ :' . .' . , .. ' . . · .. . ' ··. ,. ... . .- '· . '• . ~ . ' •' . ·, ... '.; .. · ~ ~ . . . ' ... \ . · ... -· . ,, : ' ' '· .. "' ~ ' : : .. :·_-.-~ .· .. :-:··._·. ·. ··:·: ;:_.:.· .. ·the iedge~ e~~ies._on: the· basis ofwhichpresent_recovecy proceedings , . ' , .· .. · ·: · .•.•. .' ·under ~~cti~n 446 ofthe:CompaniesA~, 1956 have been filed are not -'_:::::~:. :_ .-·: ... ;· .;:· ·. _;·: ~upported by:~y-·primary" docm?i~nt. like a voucher. He also states · · ·:: ·· ... ·: .~ · · .~· :. · · that rio' debit or credit notes are a~ailable with the Official Liquidator. ~ . . . .. ' ·~ . ·.. . : . . . . . . . ~ . ' ' . . ' ; . ' ; ._ . . . ·. . . . . _. .' .. · ... : ·. ::::·:: · ··:· · .. · · .. · . ~. Ga~~~ ·la~tly._states that even if money de.crees were to be ' ·~ . .. ~ . ~ . . ·~ ' • " • •'' •• .... · :·:. ·,. ·'passed by . this: Co~, it would be very_ diffi~ult to the Official .,. .. . ' . Liquidator·· to ·execute the said recovery decree as most of the ~' . ".· respondents . being Annual. Indian Made Foreign Liquor Licence '•• '. . . . . ' .. Ol, (1]'' :' H . ~· , . '• .II,·. , . ; ':'. ' . .. ·, ', : '·. < ' ' holder~ ~ould not b~ traceable .. ' . .. ,. ' .. : ''; .: . I' I • • ·, .. . ·:· . .. . ' . ' · .. · \-· ._: ·;. . ·:~. ~il Airi,: ie~ed couns~r'-for.'J~g~tjit. Br~wn Forman . . - . .. ' "'; . . · .. > t". • •.• ., --~ . : • : :· .. · : ~··:· (India) Ltd .. ~n-instruction~·ofMr. K.K. Kohli,.ColTI.pany Secretary of ••. •.···· ·~ ' · .· .. ·. ·:., : i ag~Wt:Brcivm Forman(India) Ltd. ~~~s the fact that there are no .... ·- ' .. ~ >·. ·:· .. · :. ··_:: · · -:..·~~cuni~ -~r:~~ecu~~-cl. ~i~dit~;s of tl:ie~company ·in liquidation and no ... . :·, ', ·.-~~~:>: . .-:..-·' .· :; .:. . ' ·. " · ... ·. . .. '' . ' . .: .. · ·: ,.· .:. · . :: : ·<.-:.further ques are payable to any.workman .. He also reaffirms the fact Cl}1!l• : ·,; · ·,: thai nod~ of the joint venture partners i~ interested in reviving the . ' ' t • •• ':-:.~ .. :·:.': '.·~ajority ofth~ 'unserved re'spondents.'. . . ; . ·. r, ',,o•r '', . ~. . ~ ... . . . . :. ; . ~ ·. "~ ·: . -· ' ,. . : ·, .. : :·:: .. ·.· ·: ·· ._; , I~ vie~ of the ·afores~id stat~m:~nt .by .the Officlai Liquidator ·.- '. ': ', ·~ .. , , ; , :, : • ''' • ... • • ,' ',, , • · .. : • . ; ', , , , ' , ' I • , , .• '.'' . ' ' ' • • , , ' .· _:· :>· . .- ~-=·. ,. .·. · : ... an~·¥r: Anil Airi, learned counsel for Jagatjit Brown Fonnan (India) ~ J ' • • • ' • • :. • : • • - ' • • ~\· ··-::·:· >·.:.<::;· ·. · .. :.::: ._. · ··Ltd.:: ~s. ~eli'· ~s the. fact. that primacy doc~nent~: lik~ invoic_es. and . ' ~ .. ·. . . • •• ': • •• •' • ••• .-~· ·~ ' f ,' ' ~ ' '" 't .• : ,;~ '... • ~ . " . . :.·· ~ . ',• , . . . ' ' •. ·: ' . ... :: •• :\· > ·.: f ........ . .. .. . .... ' . ~. ' .... ,·' .:_ '·. ' ., ' . ' ... . . ' . ~ . vouchers are. not availabl~ and further' the amount recovered in the ' . p~~~eni proceedings would be used to repay, the contributories who are : ·. .... · . •' ... . . . . ' . ' . . ' I ' ' • • '. ·. : :· :·< . ' ·_ .. ·: . ·. ' ' not interested i~. pursuing' the present. prqceedings as is apparent from " .... . . - '·.-·f ·· . . , ' . . .... _., . . ' :· ·. this Court is of the opinion that no fruitful purpose would be served in carcying on with the present proceedings .. · ·. · . · · . · . . ':. :

¶1• ,,, . . . . . . '. ~ . . . - :. . . Acc~rdingly,:the pres.ent applications are di~11;1iss~d . ,' l,. •• · ·_ The· R~gi~try is. directed to list all pending ·applications filed . '. : ' : . ... ~ .. >< ':··_under Se~tion· 446 of the Companies ·.Act in the case of M/s. Jagatjit . . ' . _. ___ : .·:· . ::· .-· ._: ··:_ ·::: .. · Bro:wn Fo~an, (IJ:1.dia) ~td.'·b-efore ~~~ Court ~n 03rd June, 2~ 11. . ~ . . ' . . " . . . ·· · ·· ·- -- : . ~-,~ · ·. _:_. :·· -:· ·.: 'Let a e~py_ ofthi~ order be pla~ed on all CAs files pertaining to • : :· • • ' • • • . ' • • : • • ~ • ' •' : • ; • • • I • • .· :: · .. ·.: :\: ·\ .· ·. . :· ... :· >.-'. the co~pany in li~uidation. . ' ' ,• . ' . ~ .. . . . · :,_ : . ~ ~ . . . ..... · ... ;. ' ' . ~ ... ,• '· ' .· . ~ ,,' .... ~ ·. ' ........ ' .. ' ·.. .. .. :- ' • . • t.'·. ! .• ... . t,• ~. . . " • .. i • < •' -...... .. , . . '" .. . . · . .. ·: :_- ;.:·:.- ·MAY 26,2011 :. · ,. '>- • • • t . 'JS . . " . ' . . . . .·. . . ~· . . .~ . : . ' ' ' : ',, • t ' ' I ' ' : '"1' I' : ' I' ~ . • ·. ~ •, . .. . . : ' • • ' I ' "~ '. ' ' • ,: ··: . ', . ' . " . . ::: ', .· . • ·_,.- •• ··-: •••• '!., •• ' ..... , . ~ . . ~. . . . . - . .. . . ... ... . . I'. • ~..... • • • • • • ' ., • : " • ' .• { •• . . · .. : :. . ~- ... ' ~-. ':. . . . ·.: '• ·-.~ .. : ' ~ ... . ·" ' . ···' ... ' . :' .... ~~ . ' " .. . . . · ·. .. . ' .~.' . . • • ' .... •' . . ·. ~ .. . . .... . ' ~. . .. ; ) '. ' ' •' ... . . . . ~-. . :. . .. ' .. ,· . . . ' .. • ..... ~ . . ~ . • I '' • .· ... . . . ' . . .... . ; . · .. ~ . . . '