Supreme Court of India
Harihar Nath and Ors. v. State Bank of India 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.
What the Court ordered
In view of the above, subject to the deletion of the condition C imposed by company court while granting leave, this appeal Is dismissed upholding the grant of leave.
Judgment, page 14
From the headnote
Companies Act, I 956; Section 446-Limitation Act, I 963; Article I 37- Loan taken by Company from a Bank by mortgaging its assets with personal guarantee of its Directors-Mortgage suit filed by the Bank before trial court against the Company and its directors-Meanwhile, an order of winding up of the Company was passed by High Court in petitions filed by some creditors of the Company-Bank filed an application before Company Court seeking leave to proceed with the Mortgage suit pending before trial court-Objections raised to the application on the ground that it was time barred under the
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