9911796707
TMI Blog1951 (7) TMI 27X X X X Extracts X X X X X X X X Extracts X X X X ..... A preliminary decree by consent was passed on the 24th June, 1948 and a commissioner for partition was appointed. 3. It appears that in respect of certain properties, the plaintiffs by subsequent transfer became the sole owners. No question arises as to the partition of these properties. 4. A compulsory winding up order of the bank was made by this Court and on 1st April, 1949, a liquidator appointed. The cause title of the suit was then amended by bringing on the records of the suit the liquidator as a party to the suit. Leave was obtained under Section 171 of the Indian Companies Act to continue the suit. 5. Thereafter the petitioners applied to the learned Subordinate Judge at Alipore for a direction on the Commissioner of partition ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ising jurisdiction in the place where the registered office of the banking company which is being wound up is situate, and notwithstanding anything to the contrary contained in the Indian Companies Act, 1913 (VII (7) of 1913), or in any notification, order or direction issued thereunder or in any other law for the time being in force, no other Court shall have jurisdiction to entertain any matter relating to or arising out of the winding up of a banking company." 11. The relevant portion of Section 45 B is as follows: "Powers of Court to decide all claims by or against banking companies: (1) Notwithstanding anything to the contrary contained in the Indian Companies Act, 1913 (VII (7) of 1913) or in any other law for the time be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ferred on such commencement to the Court which would have had jurisdiction to entertain such proceeding if this Act had been in force on the date on which the proceeding commenced, and the Court to which the proceeding stands so transferred shall dispose of the proceeding as if this Act and the amendments made thereby were applicable thereto." 14. We must read this section along with the two other sections which I have set out above. Section 11 says that any proceeding which has arisen out of or arises in the course of the winding up pending in any Court immediately before the commencement of the Banking Companies Act "shall stand transferred" to the Court which would have had jurisdiction to entertain such proceeding if thi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing up. 16. We would have been happy if we could construe the section in the way the petitioners' counsel suggests. The High Court has become overloaded with cases which have been transferred under Section 11 to the High Court. And there are petty cases too, e.g. for the recovery of ₹ 100/- or ₹ 200/- on overdraft accounts. By reason of the banks going into liquidation, such suits have been transferred to the High Court. In many cases I have had to give leave to the liquidator to give up the petty claims because the costs to be incurred for the commencement and/or the continuance of the suit or proceeding for realising the amounts would not be commensurate with the amount of the claims of the Bank against the parties. Even ..... X X X X Extracts X X X X X X X X Extracts X X X X
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