9911796707
TMI Blog2009 (8) TMI 689X X X X Extracts X X X X X X X X Extracts X X X X ..... will prejudice the rights if any, of the State Bank of India. This contention of the Bank also lacks bona fides and is therefore rejected. As recorded in the order passed by this Court dated 14-5-2009, satisfied about the genuineness of the attempt of the applicant to revive the company in liquidation. Also such revival would be in public interest and conform to commercial morality.Official Liquidator shall hand over the properties and records of the company to the applicant within a period of 2 weeks from today, after receiving his costs, charges and expenses - COMPANY APPLICATION (L) NO. 801 OF 2009 IN COMPANY APPLICATION NO. 1294 OF 2007 IN COMPANY PETITION NO. 642 OF 1983 - - - Dated:- 3-8-2009 - S.J. KATHAWALLA, J. Janak ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s as per the revival proposal. This includes workmen of any dispensation." It is clarified that the statement made by Mr. Dwarkadas is without prejudice to the contention of the applicant as well as the representative Union that except for the representative Union no other Union or individual worker/s is entitled to file the aforesaid applications for reliefs sought therein. 2. In view of the above statement, made by Mr. Dwarkadas, the learned Senior Counsel on behalf of the applicant, Ms. Jane Cox, learned Advocate for the applicant in Company Application (lodging) No. 801 of 2009 and Mr. G.C. Singh, learned Advocate for the applicant in the un-numbered application informs the Court that the applicants are not pressing their respecti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n before this Court being writ petition No. 6073 of 2007 impugning the orders of the Debt Recovery Tribunal and the Appellate Tribunal. It is the case of the State Bank of India that an amount of approximately Rs. 600 crores is due and payable by the said Mill to the Bank. As recorded in paragraph 14 of the order of this Court dated 14-5-2009 the entire decreetal amount has been paid by the applicant to the State Bank of India. However, the payment made by the applicant to the State Bank of India is without prejudice to the further claim of the said Bank towards interest component which matter is still subjudice. The second charge in respect of the immovable properties of the said Mill continues in favour of the State Bank of India. By an u ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 6. As recorded in the order passed by this Court dated 14-5-2009, I am also satisfied about the genuineness of the attempt of the applicant to revive the company in liquidation. I also find that such revival would be in public interest and conform to commercial morality. I have gone through the applicant s affidavit dated 19-6-2009 setting out the undertakings in accordance with the directions in the order dated 14-5-2009 and the affidavit dated 24-6-2009 setting out the further undertakings to secure the repayment to the creditors of the company. I have also gone through the additional affidavit of the applicant dated July 2009 inter alia setting out the steps taken for re-starting the operations of the Mill/Company . I am satisfied t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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