- 1 - HC-KAR NC: 2025:KHC:31535 CA NO.7 OF 2025 IN CA No. 420 of 2024 IN COP NO.57 OF 2012 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 14TH DAY OF AUGUST, 2025 BEFORE THE HON'BLE MR. JUSTICE E.S.INDIRESH COMPANY APPLICATION NO.7 OF 2025 IN COMPANY APPLICATION NO.420 OF 2024 IN COMPANY PETITION NO.57 OF 2012 BETWEEN: 1. SECURITIES AND EXCHANGE BOARD OF INDIA SEBI BHAVAN, PLOT NO.C-4A, G BLOCK, BANDRA KURLA COMPLEX, BANDRA (EAST) MUMBAI - 400 051 REPRESENTED BY ITS ASSISTANT GENERAL MANAGER AND AUTHORISED SIGNATORY MR. VINOD RAMPRASAD PARDESHI …APPLICANT (BY MISS ADITHI P SHETTY, ADVOCATE FOR SRI. VARAHAGIRI VINAY GIRI, ADVOCATE) AND: 1. THE OFFICIAL LIQUIDATOR OF UNITED BREWERIES (HOLDINGS) LIMITED (INLIQUIDATION) ATTACHED TO THE HIGH COURT OF KARNATAKA CORPORATE BHAVAN, Digitally signed by SHARMA ANAND CHAYA Location: HIGH COURT OF KARNATAKA - 2 - HC-KAR NC: 2025:KHC:31535 CA NO.7 OF 2025 IN CA No. 420 of 2024 IN COP NO.57 OF 2012 NO. 26-27, 12TH FLOOR, RAHEJA TOWERS, BENGALURU - 560001. …RESPONDENT (BY MISS KRUTIKA RAGHAVAN, ADVOCATE OF OFFICIAL LIQUIDATOR) IN CA NO.7 OF 2025 THIS APPLICATION IS FILED UNDER RULES 6 AND 9 OF THE COMPANIES (COURT) RULES 1959 READ WITH SECTION 5 OF THE LIMITATION ACT, 1963 PRAYING TO CONDONE THE DELAY OF 117 DAYS (05.08.2024 TO 30.11.2024) IN FILIN CA NO.420 OF 2024 THIS APPLICANT'S APPEAL BY WAY OF AN APPLICATION UNDER SECTION 460(6) OF THE COMPANIES ACT, 1956 AND UNDER RULE 164 OF THE COMPANIES (COURT) RULES, 1959. IN CA NO.420 OF 2024 THIS APPLICATION IS FILED UNDER SECTION 460(6) OF THE COMPANIES ACT, 1956 AND RULE 164 READ WITH RULES 6 AND 9 OF THE COMPANIES (COURT)RULES, 1959, PRAYING TO SET ASIDE THE IMPUGNED DECISION DATED 24.06.2024 (ANNEXURE-H) PASSED BY THE RESPONDENT IN SO FAR AS IT REJECTS THE APPLICANT'S CLAIM FOR INTEREST AT THE RATE OF 12 PERCENT PER ANNUM AND DIRECT THE RESPONDENT TO ADMIT AND PROCESS THE APPLICANT'S CLAIM TOWARDS INTEREST AT THE RATE OF 12 PERCENT PER ANNUM ON THE PENALTY AMOUNT OF INR 15,00,000/- FROM THE DATE IT BECAME DUE TILL THE DATE OF PAYMENT. - 3 - HC-KAR NC: 2025:KHC:31535 CA NO.7 OF 2025 IN CA No. 420 of 2024 IN COP NO.57 OF 2012 THESE APPLICATIONS, COMING ON FOR ORDERS, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: CORAM: HON'BLE MR. JUSTICE E.S.INDIRESH ORAL ORDER In C.A.No.7/2025: 1. Heard learned counsel for the parties on C.A.No.7/2025. 2. Accepting the reasons stated in the affidavit accompanying the application, C.A.No.7/2025 is allowed and delay of 117 days in filing the application in CA No.420/2024, is hereby condoned. In C.A.No.420/2024: 3. Heard learned counsel appearing for the parties on C.A.No.420/2024. 4. The applicant had made a claim with the Official Liquidator of the respondent - UBHL for recovery of dues against which the OL has issued Form 69 dated 24.06.2024 vide Annexure-H and rejected the claim with regard to interest on the penalty amount in terms of Section 28A of the SEBI Act read with Section 220 of the Income Tax Act, 1961. Being - 4 - HC-KAR NC: 2025:KHC:31535 CA NO.7 OF 2025 IN CA No. 420 of 2024 IN COP NO.57 OF 2012 aggrieved by the same, the applicant has preferred this application challenging the Form 69 dated 24.06.2024. 5. Having taken note of the submissions made by the learned counsel appearing for the parties and the material on record, I am of the opinion that the respondent - OL be directed to reconsider the claim made by the applicant with regard to entire claim including principal and interest in respect of the claim made as per Annexure-H. 6. In that view of the matter, the Form No.69 produced by the applicant at Annexure-H is hereby set aside and the matter is remitted to the respondent - OL to reconsider the claim in accordance with law. 7. The application, accordingly stands disposed of, in terms of the observation made above. SD/- (E.S.INDIRESH) JUDGE sac List No.: 1 Sl No.: 19