Supreme Court of India
Laxmi Fibres Ltd. v. Ap. Industrial Dev. Corpn. 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.
From the headnote
State Financial Corporations Act, 1959 - s. 29 - Power of Official Liquidator- To adjudicate and quantify the claim of statutory corporations who have been permitted by the Company Judge to stand outside the liquidation proceeding subject to certain conditions - Held: Official Liquidator cannot assume jurisdiction to sit in adjudication and decide entitlement of the financial corporation when it has opted to stand outside the liquidation proceeding as a secured creditor - They will not.be reduced to the status of unsecured creditors and equally will not be required to prove their debt which
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