1995 (3) TMI 398 - HC - Companies Law

Summary

The petition under section 446(3) of the Companies Act, 1956 was filed by the official liquidator to transfer a civil suit for recovery of Rs. 2,68,43,089.23. The suit involving Hada Steel Products Ltd. was contested by the bank, a secured creditor. The court decided to dismiss the petition and allowed the suit to continue at Faridabad, considering the convenience of the parties.