- 1 - HC-KAR CNR: KAHC010114792020 NC: 2026:KHC:43067 CA No. 134 of 2020 In COP No.167 of 1999 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 13TH DAY OF AUGUST, 2026 BEFORE THE HON'BLE MS. JUSTICE JYOTI M COMPANY APPLICATION NO. 134 OF 2020 IN COMPANY PETITION NO.167 OF 1999 BETWEEN: 1. MRS. LATA S. PALEKAR, AGED 77 YEARS, W/O. LATE MR. S.N.PALEKAR, EX-DIRECTOR KRITIKA RUBBER INDUSTRIES PVT. LTD., (SINCE DECEASED AND REPRESENTED BY APPLICANT NO.2 CAUSE TITLE AMENDED VIDE COURT ORDER DATED 24.01.2024) 2. MR. AJAY S. PALEKAR, AGED 56 YEARS, S/O LATE MR. S.N.PALEKAR EX-DIRECTOR, KRITIKA RUBBER INDUSTRIES PVT. LTD., R/AT B-103, LANSDOWN APARTMENTS 7TH CROSS, DOMLUR LAYOUT, BENGALURU - 560 071. …APPLICANTS (BY SRI. SUMANTHA S., ADVOCATE FOR SRI. APPAIAH P.B., ADVOCATE) Digitally signed by PREMCHANDRA M R Location: HIGH COURT OF KARNATAKA - 2 - HC-KAR CNR: KAHC010114792020 NC: 2026:KHC:43067 CA No. 134 of 2020 In COP No.167 of 1999 AND: 1. OFFICIAL LIQUIDATOR OF M/S. KRITIKA RUBBER INDUSTRIES PVT. LTD., (IN LIQUIDATION) ATTACHED TO HIGH COURT OF KARNATAKA CORPORATE BHAVAN, NO.26-27, 12TH FLOOR, RAHEJA TOWERS, M.G.ROAD, BENGALURU - 560 001. 2. RESPONDENT NO.2 IMPLEADED VIDE ORDER DATED 05.07.2023. THE REGISTRAR OF COMPANIES, KARNATAKA, 'E' WING, 2ND FLOOR, KENDRIYA SADANA, KORAMANGALA, BENGALURU-560034. …RESPONDENTS (BY SRI. SHRISHAIL NAVALGUND, ADVOCATE FOR OL FOR R1; SRI. M.N.KUMAR, CGC FOR R2) THIS COMPANY APPLICATION IS FILED UNDER SECTION 463 OF THE COMPANIES ACT, 1956. THIS COMPANY APPLICATION IS LISTED FOR ORDERS, THIS DAY AN ORDER IS MADE AS UNDER: ORAL ORDER Sri.Sumantha.S., counsel on behalf of Sri.Appaiah.P.B., for the applicants; Sri.Shrishail Navalgund., counsel for the Official Liquidator and Sri.M.N.Kumar., CGC for respondent No.2 appeared in person. - 3 - HC-KAR CNR: KAHC010114792020 NC: 2026:KHC:43067 CA No. 134 of 2020 In COP No.167 of 1999 Counsel for the applicants seek permission to make a necessary note in the cause title. Submission is noted. Permission is granted. Concerned official of the company branch is to verify and check. 2. The application is filed to relieve the applicants either in whole or in part from the liability cast on the applicants under the order dated:21.02.2018 passed by this Hon'ble Court in C.A.No.664/2011 vide Annexure-C. 3. Counsel for the respective parties urged several contentions. Heard the arguments and perused the papers with care. 4. Suffice it to note that the office of the Official Liquidator had filed Company Application No.664/2011 and the Court had disposed of the application on 21.02.2018 and it reads as under: Accordingly, the sum of Rs.2,54,180.70, as claimed in the application, is allowed with interest at 18% p.a. as claimed therein. The respondents are directed to pay the said amount to the company in liquidation and such - 4 - HC-KAR CNR: KAHC010114792020 NC: 2026:KHC:43067 CA No. 134 of 2020 In COP No.167 of 1999 liability is fastened jointly and severally against the respondents. On failure to pay, the official liquidator is granted liberty to recover the same in accordance with law. In the present application, the applicants seek a complete or partial waiver of the interest awarded. In my view, such relief cannot be granted. The reason is evident: if the applicants are aggrieved by the award of interest, the appropriate remedy available to them is to challenge the order passed in C.A.No.664/2011 by preferring an Original Side Appeal (OSA). Therefore, I find no sufficient grounds to grant the relief sought in Company Application No.134/2020. Accordingly, the application stands dismissed. In view of dismissal of C.A.No.134/2020, the OLR 67/2023 does not survive for consideration. Accordingly, it is disposed of. SD/- (JYOTI M) JUDGE MRP List No.: 2 Sl No.: 4