- 1 - HC-KAR NC: 2026:KHC:13790 CA No. 387 of 2025 C/W CA No. 388 of 2025 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 6TH DAY OF MARCH, 2026 BEFORE THE HON'BLE MR. JUSTICE ANANT RAMANATH HEGDE COMPANY APPLICATION NO. 387 OF 2025, COMPANY APPLICATION NO. 388 OF 2025 IN COMPANY APPLICATION NO. 150 OF 2007 IN COMPANY PETITION NO.130 OF 1999 BETWEEN: 1. SRI. M V GUTTEDAR AGED ABOUT 69 YEARS, S/O. LATE. V. GUTTEDAR, EX- DIRECTOR OF M/S. HIND C BAY WEBTECH LTD, R/AT NO.323, 1ST BLOCK, III STAGE, WEST OF CHORD ROAD, BASAVESHWARA NAGAR, BENGALURU-560079. 2. MR.SUNDER V AMIN, AGED ABOUT 72 YEARS S/O LATE G VENKAPPA, EX- DIRECTOR OF M/S. HIND C BAY WEBTECH LTD, R/AT NO.G738, BRIGADE NORTH RIDGE APARTMENT, KOGILU MAIN ROAD, Digitally signed by VANAMALA N Location: HIGH COURT OF KARNATAKA - 2 - HC-KAR NC: 2026:KHC:13790 CA No. 387 of 2025 C/W CA No. 388 of 2025 YELAHANKA, BENGALURU-560064. …APPLICANTS [COMMON] (BY SMT. ASHA S M., ADVOCATE) AND: THE OFFICIAL LIQUIDATOR OF M/S HIND C BAY WEBTECH LTD (IN LIQDN) (EARLIER KNOWN AS CANBAY POLYFILMS LTD) ATTACHED HIGH COURT OF KARNATAKA, CORPORATE BHAVAN, 26-27, 12TH FLOOR, RAHEJA TOWERS, M.G.ROAD, BENGALURU-560001 … RESPONDENT [COMMON] (BY MS. KRUTHIKA RAGHAVAN., OFFICIAL LIQUIDATOR) THE COMPANY APPLICATION NO.387/2025 IS FILED UNDER RULE 6 AND 9 OF THE COMPANIES (COURT) RULES, 1959 READ WITH SECTION 5 OF THE LIMITATION ACT 1963 PRAYING TO PERMIT THE APPLICANTS TO LEAD EVIDENCE IN RESPECT OF RESPONDENT NO.2 IN CA NO.150/2007. THE COMPANY APPLICATION NO.388/2025 IS FILED UNDER RULE 6 AND 9 OF THE COMPANIES (COURT) RULES, 1959 READ WITH SECTION 5 OF THE LIMITATION ACT 1963 PRAYING TO PERMIT THE APPLICANTS TO FILE OBJECTIONS TO THE MAIN APPLICATION IN C.A. NO.150/2007. THESE APPLICATIONS, COMING ON FOR ORDERS, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: - 3 - HC-KAR NC: 2026:KHC:13790 CA No. 387 of 2025 C/W CA No. 388 of 2025 CORAM: HON'BLE MR. JUSTICE ANANT RAMANATH HEGDE ORAL ORDER The Company Application No.150/2007 is filed to recover the amount from the respondents. It is stated that notice to the respondents was not served through regular mode. However, it was served through substituted service. It appears that the evidence on behalf of the applicant was led in the year 2021 and the respondents No.1 and 2 have filed vakalath on 20.11.2025. 2. The Company Applications No.387/2025 and 388/2025 in Company Application No.150/2007 are filed seeking permission to lead evidence and to file objections to the main application respectively. 3. Learned counsel for the applicant in Company Application No.150/2007 would oppose the application on the premise that the company application is of the year 2007 and the respondents have not made out any ground to file statement of objection at this stage of the matter. 4. It is noticed that the claim is made against the respondents for recovery of Rs.10,72,36,570/-. It is also noticed that the respondents were not served with a notice in the regular mode but notice is held to be sufficient through substituted service. - 4 - HC-KAR NC: 2026:KHC:13790 CA No. 387 of 2025 C/W CA No. 388 of 2025 4. Under these circumstances, the applications have to be allowed and the respondents in CA No.150/2007 are permitted to file statement of objection and lead evidence. Consequently, C.A.No. 387/2025 and C.A.No. 388/2025 are allowed. 5. It is also noticed that the statement of objection is already filed and same is taken on record. 6. The learned counsel for the applicant in CA No.150/2007 is also permitted to file rejoinder to the statement of objections, if any. 7. The cross examination shall commence on 16.03.2026. It is also made clear that the respondents shall not seek unnecessary adjournments on such date. 8. List before Central Project Co-ordinator on 16.03.2026 for recording evidence. 9. List after conclusion of oral evidence. Sd/- (ANANT RAMANATH HEGDE) JUDGE AN/-