Supreme Court of India
Indian Bank v. The Official Liquidator, Chemmeens Exports (p) Ltd. and Ors.
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
2 Supreme Court benches have cited this judgment.
What the Court ordered
We hold that a judgment creditor will be entitled to relief from the Company Court accordingly.
Judgment, page 13
From the headnote
Companies Act, 1956 : Sections 125 and 446--Charge created on the company's asset by way of mortgage-Non registration of such charge-Effect of-Loan advanced by bank secured by equitable mortgage by deposit of title deeds uf the debtor company with the bank-Winding up proceedings initiated against the debtor company and winding up order passed by the Company Court-Bank moving on application to the Company Court for leave to file a suit against the debtor company under liquidation and the same was allowed-Preliminary decree passed-No appeal preferred by the Official Liquidator against the
Authorities it was built on
Where later benches applied it
- 2014 Oiland Natural Gas Corporation Ltd. v. Official Liquidator of M/s.ambica Mills Company Ltd. & Ors
- 2015 Infrastructure Leasing & Financial Services Limited v. B.P.L. Limited
Of those, 1 relied on · 1 distinguished
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