9911796707
TMI Blog2014 (7) TMI 142X X X X Extracts X X X X X X X X Extracts X X X X ..... d. (DCHL on 4.05.2010. The entire amount was disbursed and transferred to the bank account of DCHL. Further DCHL also applied for a working capital demand loan facility of Rs. 50 crores from the petitioner which was also sanctioned by the petitioner. The said amount was disbursed and transferred to the bank account of DCHL. The Board of directors of R1 Company passed a resolution dated 16.07.2012 agreeing to guarantee the payment of the debt of Rs. 100 crores to the petitioner on behalf of DCHL and also agreeing to mortgage its immovable property comprising of land and building constructed thereon hearing Municipal No.3-6-356, 557, 358 near Gandhi Medical College, Basheerbagh, Hyderabad all together measuring 1580 Sq Yds to secure the loans ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mpanies Act and therefore entitled to get the charge registered with the ROC read with section 125 of the Act. The petitioner company exhausted all the remedies available and issued a notice dated 28.11.2012 under section 614 of the Act calling upon the respondent to come forward and comply with the filing of Form 8 before the respondent No.2 within 14 days from the date of receipt of the said notice. The notice was received by the R1 on 05.12.2012 but till date R1 has not complied with the filing of Form 8. Therefore it is requested to grant relief as prayed in the application. 2. Heard the learned counsel for the petitioner company. None appeared for the respondents. The petitioner company sent notices to the respondents by speed post an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... garjuna Travels & Hotels Ltd passed a resolution dated 16.07.2012 agreeing to guarantee the repayment of Rs. 100 crore due to the petitioner company from DCHL and agreed to mortgage its immovable property comprising of land and building. The R1 Company executed a corporate guarantee for a sum of Rs. 100 crore on 18.07.2012 to secure the repayment of the amounts availed by DHCL. Further the R1 Company also executed an affidavit-cum-indemnity dated 18.07.2012 and deposited title deeds relating to the property mortgaged and created mortgage over the said mortgaged property in favour of the petitioner company. The R1 Company also executed Form 8 for registration of the charge created by it over the said mortgaged property in favour of the petit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed that the petitioner company's representative contacted the R1 Company in order to obtain necessary corrections and also made personal visit to the office of the R1 but they were not successful. Further it is stated that on enquiries it was found that Mr E Venkatram Reddy is also a director of another company which is a defaulting company and that may be the reason for the online system of the MCA not accepting Form 8 through its online service. It is an admitted fact that the R1 Company authorised one Mr E. Venkatram Reddy to execute the necessary documents and forms in respect of mortgage and creation of charge on its immovable property in the name of the petitioner company. Accordingly, Mr E Venkatram Reddy executed the necessary d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is for the petitioner company to ventilate its grievances against the R1 Company. Seeking directions from the Bench by invoking jurisdiction as vested under section 614 is my view is completely misplaced. As stated supra the company and its officers who has been authorised to file Form 8 for creation of charge has complied in creation of charge and in filing of Form 8 with ROC. On the other hand, from the pleadings it is seen that the company's inability to file Form 8 is due to MCA online services not accepting the digital signature of the director who has signed the Form 8 due to his default in some other company. In such a situation no directions can be issued against R2 as Section 614 of the Act envisages issue of directions by Comp ..... X X X X Extracts X X X X X X X X Extracts X X X X
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