- 1 - HC-KAR NC: 2025:KHC:43512 CA NO. 457 OF 2013 IN CA NO. 115 OF 2010 IN COP NO. 78 OF 2003 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 30TH DAY OF OCTOBER, 2025 BEFORE THE HON'BLE MS. JUSTICE JYOTI M COMPANY APPLICATION NO. 457 OF 2013 IN COMPANY APPLICATION NO. 115 OF 2010 IN COMPANY PETITION NO. 78 OF 2003 BETWEEN: RAJU DESAI, S/O. SHIVASHARANAPPA, 65/C4, SAHANTHI NAGAR, M.S.K.MILL ROAD, GULBARGA - 585103. …APPLICANT (BY SRI. N.K.SIDDESWARA, ADVOCATE) AND: 1. OFFICIAL LIQUIDATOR OF M/S. NAVAJEEVAN CAPFIN (INDIA) LTD., IN LIQUIDATION, ATTACHED TO HIGH COURT OF KARNATAKA, CORPORATE BHAVAN, NO.26-27, 12TH FLOOR, RAHEJA TOWARS, M.G.ROAD, BENGALURU-560001. 2. SANJAYA S. PATIL, S/O. SIDDARAMAPPA PATIL, NO.11-198, BRAMPUR, GULBARGA - 585103. 3. SRI. MADANI RAJARAM YASHWANATH, S/O. YASHWANATH, Digitally signed by THEJAS KUMAR N Location: HIGH COURT OF KARNATAKA - 2 - HC-KAR NC: 2025:KHC:43512 CA NO. 457 OF 2013 IN CA NO. 115 OF 2010 IN COP NO. 78 OF 2003 AT VARKUTA, B.K.POST, LONIDEOKAR, TALUK-INDRAPUR, DISTRICT PUNE. …RESPONDENTS (BY SRI. JAGADEESHGOUD PATIL, ADVOCATE FOR OL) THIS COMPANY APPLICATION FOR DELETION UNDER SECTION 9 OF THE COMPANY'S COURT RULES. THIS COMPANY APPLICATION IS LISTED FOR ORDERS, THIS DAY AN ORDER IS MADE AS UNDER: ORAL ORDER Sri.N.K.Siddeswara., counsel for the applicant and Sri.Jagadeeshgoud Patil., counsel for the Official Liquidator have appeared in person. 2. The captioned application i.e., C.A.No.457/2013 is filed by respondent No.2 in C.A.No.115/2010 seeking deletion of his name in C.A.No.115/2010. 3. Counsel Sri.Siddeshwara., submits that Raju Desai - the applicant has sworn to declaration of fact in the form of an affidavit narrating the reasons to delete his name in C.A.No.115/2010. Counsel vehemently contended that this Court vide order dated 25.08.2011 in CA.No.814/2005 had discharged respondent No.2. Counsel therefore, submits that the name of applicant may be deleted in C.A.No.115/2010. - 3 - HC-KAR NC: 2025:KHC:43512 CA NO. 457 OF 2013 IN CA NO. 115 OF 2010 IN COP NO. 78 OF 2003 4. The Official Liquidator opposes for deletion of applicant's name in C.A.No.115/2010. He drew the attention of the Court to Section 543 of the Companies Act, 1956. 5. Heard the contentions urged on behalf of the respective parties and perused the application, affidavit and also the order dated 25.08.2011 passed in C.A.No.814/2005 with care. 6. The Company Application No.115/2010 is filed to declare respondents 1 to 3 - the Ex-directors at all material and relevant times were guilty of misfeasance and breach of trust in relation to the company in liquidation. Counsel Sri.N.K.Siddeshwara., submits that the applicant was an Ex-Director and he has never been part of any transaction of the Company beyond 1996. He argued that the applicant had retired long back and hence, he cannot be held liable for any misappropriation. It is not in dispute that the applicant (respondent No.2 in C.A.No.115/2010) was Ex-director and Section 543 of the Act of 1956, expressly empowers the Court to assess damages - 4 - HC-KAR NC: 2025:KHC:43512 CA NO. 457 OF 2013 IN CA NO. 115 OF 2010 IN COP NO. 78 OF 2003 against the alleged delinquent director. The order of discharge made in C.A.No.814/2005 cannot be a ground to discharge the applicant (respondent No.2) in C.A.No.115/2010 since it relates to misfeasance. 7. Resultantly, C.A.No.457/2013 is rejected. SD/- (JYOTI M) JUDGE TKN/KMV List No.:1 Sl No.:3