- 1 - NC: 2025:KHC:4356 CA No. 374 of 2024 IN COP No.177 of 2016 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 30TH DAY OF JANUARY, 2025 BEFORE THE HON'BLE SMT. JUSTICE LALITHA KANNEGANTI COMPANY APPLICATION NO. 374 OF 2024 IN COMPANY PETITION NO.177 OF 2016 BETWEEN: M/S SBI CAPITAL MARKETS LIMITED CHENNAI REGIONAL OFFICE, GROUND FLOOR, CIRCLETOP HOUSE, APARNA COMPLEX, 16 COLLEGE LANE CHENNAI -600 006 …APPLICANT (BY SRI. DEEPAK AND SRI.RAJESJ, ADVOCATES) AND: M/S GARUDA MAVERICK INFRASTRUCTURE PROJECTS PVT. LTD., A COMPANY INCORPORATED UNDER THE COMPANIES ACT 1956 HAVING ITS REGISTERED OFFICE AT NO.78/1, NEW K.R. ROAD, BASAVANAGUDI , BENGALURU – 560 004 KARNATAKA …RESPONDENT (BY SRI.SRIRANGA SUBBANNA, SR. COUNSEL A/W SRI.M.S.SRIRAJA S., FOR SMT.SUMANA NAGANAND, ADVOCATE) THIS APPLICATION IS FILED UNDER RULE 6 OF THE COMPANIES (COURT) RULES, 1959, READ WITH SECTION 434 (1) (C) OF THE COMPANIES ACT 2013, PRAYING TO TRANSFER THE Digitally signed by MEGHA MOHAN Location: HIGH COURT OF KARNATAKA - 2 - NC: 2025:KHC:4356 CA No. 374 of 2024 IN COP No.177 of 2016 ABOVE CASE TO NATIONAL COMPANY LAW TRIBUNAL, BENGALURU IN THE INTEREST OF JUSTICE AND EQUITY. THIS APPLICATION, COMING ON FOR ADMISSION, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: CORAM: HON'BLE SMT. JUSTICE LALITHA KANNEGANTI ORAL ORDER CA.No.374/2024 is filed seeking transfer of this Company Petition to the National Company Law Tribunal, Bengaluru. It is stated that the National Company Law Tribunal is now fully functional and if the above case is transferred, the Resolution Professional can be appointed to resolve the matter under the Insolvency and Bankruptcy Code. 2. The respondents have filed their statement of objections stating that the application is filed belatedly only to drag on the proceedings and there are jurisdictional issues and the matter cannot be transferred to the NCLT. 3. Considering the nature of dispute which is pending before this Court, where the National Company Law Tribunal, Bengaluru has jurisdiction to deal with the same, in that view of the mater, this Court finds force in the submission of the - 3 - NC: 2025:KHC:4356 CA No. 374 of 2024 IN COP No.177 of 2016 learned counsel for the petitioner. Accordingly, this Court is passing the following order: ORDER i. Accordingly, CA.No.374/2024 is allowed. ii. The Company Petition is transferred to National Company Law Tribunal, Bengaluru. iii. It is needless to mention that it is open to the parties to raise their respective contentions on jurisdiction and all other aspects. SD/- (LALITHA KANNEGANTI) JUDGE MEG List No.: Sl No.: