OFFICIAL LIQUIDATOR OF M/S UNITED BREWERIES (HOLDINGS) LTD (IN LIQN) v. VODAFONE IDEA LTD

OFFICIAL LIQUIDATOR OF M/S UNITED BREWERIES (HOLDINGS) LTD (IN LIQN) ATTACHED TO HIGH COURT OF KARNATAKA CORPORATE BHAVAN, NO.26-27, 12TH FLOOR, RAHEJA TOWERS, M G ROAD BENGALURU-560001 (BY SMT. KRUTIKA RAGHAVAN., ADVOCATE FOR O.L.) ...APPLICANT NARAYANAPPA LAKSHMAMMA Location: HIGH COURT OF KARNATAKA AND

VODAFONE IDEA LTD MARUTHI INFOTECH CENTRE GROUND FLOOR, B BLOCK 11/1, 12/1, KORAMANGAAL INTERMEDIATE RING ROAD, AMAR JYOTI LAYOUT BENGALURU-560071 REPRESENTED BY ITS CFO SRI MURTHY GUNDU VENKAT ANAND SRINIVAS

MS AKSHAYA MOONDRA FORMER CEO AND CEO (KMP) APARTMENT NO.601, 6TH FLOOR, SANGEET APARTMENTS, 15TH ROAD, SANTACRUZ (WEST) MUMBAI-400054 MAHARASHTRA - 2 - NC: 2024:KHC:20997 CA No. 314 of 2023 In COP No.57 of 2012

SRI. MURTHY GUNDU VENKAT ANAND SRINIVAS CFO (KMP), 48/501, SEAWOODS ESTATE, NRI COMPLEX, SECTOR 54, 56, 58, NERUL, NAVI MUMBAI-400 706, MAHARASHTRA. RESPONDENTS (BY SRI. MUTTALLI SANTOSH TIMMAPPA @ SRI. ANAND MUTTALLI., ADVOCATES FOR ATV LEGAL ADVOCATES) THIS COMPANY APPLICATION IS FILED UNDER SECTION 446(2)(b) OF THE COMPANIES ACT, 1956 READ WITH RULE 9 OF THE COMPANIES (COURT) RULES, 1959 PRAYING TO DIRECT THE RESPONDENT COMPANY TO PAY A SUM OF RS. 5,74,642/- AND RS. 6,87,495/- AT INTEREST @ 18% FROM 07.02.2017 TO 30.09.2023, TOTAL AMOUNTING TO RS. 12, 62,134/- AND FUTURE INTEREST FROM 01.10.2023 TILL THE DATE OF PAYMENT. THIS COMPANY APPLICATION COMING ON FOR ORDERS AND HAVING BEEN RESERVED FOR ORDERS ON 25.04.2024, THIS DAY, THE COURT PRONOUNCED THE FOLLOWING: ORDER

1. CA No.314/2023 has been filed seeking for the following reliefs; a) To direct the respondent company to pay a sum of Rs.5,74,642/- and Rs.6,87,492/- as interest @ 18% from 07.02.2017 to 30.09.2023, total amounting to Rs.12,62,134/- and future interest from 01.10.2023 till the date of payment. b) To pass such other order or orders as this Hon’ble Court deem fit and proper in the facts and circumstances of the case. - 3 - NC: 2024:KHC:20997 CA No. 314 of 2023 In COP No.57 of 2012

2. The company in liquidation in the present matter is M/s United Breweries (Holdings) Ltd., who is the applicant in C.A. No.280/2023, having been wound up by an order dated 7.02.2017 in Company Petition No.57/2012, the Official Liquidator attached to this Court has been appointed as a liquidator of the company in terms of Section 449 of the Companies Act, 1956 [‘Act’ for short]. The Official Liquidator has filed the above application under Section 446(2)(b) seeking for the above reliefs.

3. In the present matter is a claim made that respondent No.1 is due to the company in liquidation a sum of Rs.12,62,134/-.

The arguments advanced by Ms.Kruthika Raghavan and Sri. Muttalli Santhosh Timmappa and Sri. Anand Muttalli, learned counsel respondents is the same as that addressed by the counsels in C.A. No.280/2023. As such, I am of the considered opinion that the finding on law as - 4 - NC: 2024:KHC:20997 CA No. 314 of 2023 In COP No.57 of 2012 rendered by me in C.A. No.280/2023 is equally applicable to the present matter.

Insofar as the facts are concerned to ascertain if the claim made by Official Liquidator is within the period of limitation or not, it is seen that respondent No.1 is stated to be indebted to the company in liquidation the principal sum of Rs.5,74,642/- and Rs.6,87,492/- as on 7.02.2017 i.e. the date of winding up which is denied by the respondents wholly on the ground that there are no particulars indicating the nature of the transaction and that the claim is barred by limitation.

Insofar as limitation is concerned, that aspect having been dealt in C.A. No.280/2023, I am of the considered opinion that the claim of the Official Liquidator cannot be exfacie said to be barred by limitation.

Insofar as no particulars having been produced by the Official Liquidator in the claim petition under Section 446(2)(b), the petition having been filed, it is - 5 - NC: 2024:KHC:20997 CA No. 314 of 2023 In COP No.57 of 2012 for the Official Liquidator to establish the same during the course of evidence/trial as held by me in C.A. No.280/2023. The Official Liquidator would have to prove the nature of transaction, money value of the transaction, payments made or not made including any part payment made as regards the said transaction. This would have to be established by the Official Liquidator by leading cogent evidence, producing verifiable documents, and further being subjected to cross-examination.

That stage not having arisen as yet, at this stage, I am of the considered opinion that the claim cannot be denied or rejected on the basis of no documents having been produced by the Official Liquidator. Hence, I pass the following: ORDER i. The claim of the Official Liquidator is held to be within time and it is not barred by limitation. - 6 - NC: 2024:KHC:20997 CA No. 314 of 2023 In COP No.57 of 2012 ii. Registry is directed to place the above matter before the Central Process Coordinator for recordal of evidence. iii. The Official Liquidator is directed to file his affidavit in lieu of evidence and documents on or before 04.07.2024. iv. The Central Process Coordinator is directed to record the evidence in chief and mark the documents on 11.07.2024 commencing from 3 p.m., thereafter conduct trial in the matter and place the same before this court.

In view of the submission made by Ms.Kruthika Raghavan, learned counsel on instructions of Official Liquidator, the claim petition against respondents No.2 and 3 stands dismissed. Sd/- JUDGE LN, List No.: 2 Sl No.: 2