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Equipment belongs to vendor imported in India cannot be transferred to other on winding up of company
Case Law Details
- Case Name
- Tantia constructions limited Vs Road buildier (m) sdn bhd (Calcutta High Court)
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Calcutta High Court
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This is an application for the winding up of Tantia Constructions Ltd. (hereinafter the company). It is made by a Malaysian company by the name of Road Builder (M) Sdn Bhd, (hereinafter the petitioning creditor). These two companies entered into a joint venture agreement on 14th July, 2003 for setting up a project in the State of Mizoram. After sometime, the company pulled out of it. They entered into a different relationship. The petitioning creditor agreed, on 15th December, 2007, to sell to the company plant, machinery and vehicles at a total consideration of Rs. 2,75,73,614.41/-.
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