2005 (9) TMI 324

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... which was wound up by this court on 31-3-1994. After the sale of the assets, the Official Liquidator with the permission of the court invited the claims, vide advertisement in the news papers annexed vide Official Liquidator Report No. 98 of 1997. He did not receive any claim, and thus after seeking permission of the court vide Official Liquidator Report No. 35 of 1998, the official deposited the .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... up the assets come in possession of the court and the company is represented by the liquidator. There is no averment in the application that permission of the court was obtained under section 446 of the Companies Act, 1956, to continue the suit but once the company was wound up on 31-3-1994, it was necessary for the respondents to have impleaded the Official Liquidator to represent the interest o .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... e Official Liquidator to represent the company. The compromise shows that it was made between the State Bank of India and defendant Nos. 2 and 3, namely, Sri Babu Lal Sharma and Sri Prem Shanker Sharma, who could not have representing the company and compromised the mortgage suit. 5. The compromise decree is, as such, not binding upon the Official Liquidator. The mortgage was not registered with .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X