9911796707
TMI Blog1996 (8) TMI 418X X X X Extracts X X X X X X X X Extracts X X X X ..... JUDGMENT Sat Pal, J. By this judgment, we are disposing of two appeals bearing Company Appeal No. 16 of 1995 and Company Appeal No. 17 of 1995 as both the appeals are directed against the common judgment dated April 27, 1995, passed by the learned company judge in C.P. Nos. 155 and 156 of 1994. Briefly stated, the facts of the case are that the appellant, Corporation Bank (hereinafter ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hich are pending in the High Court of Delhi were transferred to this court. By the impugned judgment, the learned company judge accepted the contentions of the official liquidator and ordered to transfer the aforesaid two suits pending in the Delhi High Court to this High Court for continuation. The Registry of the Delhi High Court was directed to transfer the files of the said suits to this court ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... v. Elmot Engineering Co. [1994] 81 Comp Cas 13 ; [1994] ISJ (Banking) 664. The official liquidator who appeared in person reiterated the submissions made before the learned company judge. We have given our thoughtful consideration to the submissions made by learned counsel for the appellant and by the official liquidator and have perused the records. In this case, the appellant-bank admittedly ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... case, the Supreme Court held that "this transfer will result in greater expenditure to the appellant-bank which certainly is avoidable than the wasteful expenditure to the official liquidator." For the reasons recorded hereinabove, both the appeals are allowed and that part of the impugned judgment directing the transfer of suits is set aside. We make it clear that we are not interfering with th ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
