1998 (8) TMI 452

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..... 1. The applicants by this application has prayed for the following reliefs: "( a )That leave be granted to the applicants under section 446( i ) of the Companies Act, 1956, to continue the Suit No. 4026 of 1985 filed by them in High Court of Judicature at Bombay against Kanakdhara Steel Ltd. (now in liquidation). ( b )That leave be granted to the applicants under sections 453 and 537 of .....

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..... he leave of the Court. Admittedly, the assets are in the hands of the receiver. Section 453, therefore, does not apply. In the light of that application allowed in terms of prayer clause ( a ) and prayer clause ( b ) only to the extent of section 537. 2. This is subject to the rights of the other secured creditors and all the workmen. 3. Application disposed of accordingly. SCL q DECEMBE .....

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