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1999 (8) TMI 795 - HC - Companies Law

The State Bank of Patiala filed an application under section 446 of the Companies Act, 1956, seeking leave to proceed with a recovery application before the Debts Recovery Tribunal, Jaipur for Rs. 6,77,75,377. The High Court granted permission for the bank to continue its proceedings subject to conditions, including the Official Liquidator's right to contest the proceedings and a deposit of Rs. 20,000 for expenses. No execution is allowed without the Court's permission.

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