Supreme Court of India

Rajasthan Financial Corporation and Anr. v. The Official Liquidator and Anr.

Neutral citation

Reported as [2005] SUPP. 3 S.C.R. 1073

Bench S.N. Variava J.

Decided 5 October 2005

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.

8 Supreme Court benches have cited this judgment.

What the Court ordered

We find no reason to interfere with the decision of the High Court.

Judgment, page 14

From the headnote

State Financial Corporation Act, 1951: Sections 3, 29, 31, 32 and 46. Company-in-liquidation-Rights of secured creditors to sell properties of-Company-in-liquidation ordered to be wound up-Official Liquidator directed to take charge of assets of said company-Secured creditors standing outside the winding up filed an application praying for permission to realize the securities and apportion net sale proceeds between them and another secured creditor-Undertaking given to pay over dues of workmen on the same being adjudicated by the Official Liquidator out of the net sale proceeds of the

Authorities it was built on

1996 Industrial Credit and Investment Corporation of India Ltd. v. M/s Srinivas Agencies and Ors. Etc. Etc. cited by 7

Where later benches applied it

2013 Bank of Maharashtra v. Pandurang Keshav Gorwardkar & Ors relied on
2013 The Official Liquidator, U.P. and Uttarakhand v. Allahabad Bank and Ors. relied on
2012 Pravin Gada and Another v. Central Bank of India and Others relied on
2019 Swaraj Infrastructure Pvt. Ltd. v. Kotak Mahindra Bank Ltd. referred to
2016 Anita International v. Tungabadra Sugar Works Mazdoor Sangh - and Others referred to
2015 Pegasus Assets Reconstruction P. Ltd. v. M/s. Haryanaconcast Limited &anr. referred to
2015 Laxmi Fibres Ltd. v. Ap. Industrial Dev. Corpn. Ltd. & Ors. referred to
2011 Employees Provident Fund Commissioner v. O.L. of Esskay Pharmaceuticals Limited referred to

Of those, 3 relied on · 5 referred to

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