Supreme Court of India
Oiland Natural Gas Corporation Ltd. v. Official Liquidator of M/s.ambica Mills Company Ltd. & 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 learned counsel for the respondents are quite right in their submissions that an B injunction was issued only to ensure -that the company in liquidation does not further encumber or create charges in favour of third parties over the assets of the company in liquidation.
Judgment, page 13
From the headnote
Companies Act, 1956: ss. 529 and 529A rlw s. 125 - Interim order dated 15.4.1987 passed by Supreme Court directing ONGC to supply gas to respondent-company at the stated rate subject c to an undertaking that respondent would not charge, encumber or alienate its immovable assets - Subsequently, company wound up - Application by appellant Corporation in company petition for payments of its outstanding dues as secured creditor on the strength of order dated 15.4. 1987 - Rejecte(i by Company Judge as well as Division Bench of High Court- Held:.Order dated 15.4.1987 was only in the nature of
Authorities it was built on
Sign in free to read it
- The full judgment, page by page, as published in the Supreme Court Reports
- The ratio: what the Court held, verbatim, with the page it sits on
- Every bench that relied on it, and every bench that argued against it
- Search every reported judgment, by party, citation or question
- Download the PDF, copy pinpoint citations ready for a filing
An email address, no password.