Supreme Court of India
National Textile Corporation (gujarat) 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
We are of the opinion that the High Court was not correct in taking the views, it did.
Judgment, page 20
From the headnote
Sick Textile Undertakings (Nationalisation) Act, 197 4-Sections 5, 21 and 22; Second Schedule-Bombay Relief Undertaking (Special Provision) Act, 1958-Section 4-Jndustries (Development and Regulation) Act, 1951- Section 18(1)-Takeover of management of a sick textile company-Claims by Banks before Commissioner of Payments for compensation for the various credit facilities extended to the company in pre and post takeover period Commissioner admitted only part of the claims under Categories I and IV of the Second Schedule and disallowed the remaining claims-Trial Court dismissed the claims by
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