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1998 (2) TMI 519 - HC - Companies Law

The Punjab National Bank filed a petition under section 446 of the Companies Act, 1956 to continue execution proceedings for recovery of Rs. 34,16,808.65 against Vedson Engineers Pvt. Ltd. The bank, a secured creditor, was granted leave to pursue execution proceedings before the Debt Recovery Tribunal at Jaipur, subject to the sanction of the company court. The Supreme Court allowed the bank to continue execution proceedings, and the matter was disposed of accordingly.

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