9911796707
TMI Blog2004 (3) TMI 485X X X X Extracts X X X X X X X X Extracts X X X X ..... N.K. Sodhi, Actg. CJ. - This company appeal is directed against the order dated 28-11-2003, passed by the learned Judge accepting the report of the Official Liquidator and rejecting the application filed by the appellant seeking leave to proceed against the company in liquidation under section 446 of the Companies Act, 1956 (for short "the Act"). The facts giving rise to the appeal may first be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , the company was ordered to be wound-up by this Court in C.P. No. 25 of 2001 on 28-9-2000. On the passing of the winding-up order, the Official Liquidator took charge of the assets of the company in terms of the provisions of the Act. The Official Liquidator submitted a report to the learned Company Judge with a request that the appellant, which was a creditor of the company and whose charge had ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e commencement of the winding-up, the order of attachment is valid and is not hit by the provisions of section 637 of the Act and, therefore, the learned Company Judge should have granted leave to the appellant to proceed against the company to recover its dues. He further contends that the learned Company Judge erred in law in accepting the report of the Official Liquidator and declaring the appe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ds the other contention that the learned Company Judge should have granted leave to the appellant to proceed against the assets of the company on the basis of the order of attachment obtained by it on 1-9-1999, we are clearly of the view that the facts and circumstances of the case do not warrant such an action. Since the appellant is an ordinary creditor, it cannot be allowed to recover its dues ..... X X X X Extracts X X X X X X X X Extracts X X X X
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