9911796707
TMI Blog2021 (2) TMI 1386X X X X Extracts X X X X X X X X Extracts X X X X ..... with the help of security guards till such possession of the property is handed over to the Official Liquidator - HELD THAT:- Insofar as the assignment in favour of the applicant in C.A. No.260/2019, admittedly such assignment has been made on 17.11.2017. The assignment is an internal transaction between the Bank of India and the assignee. If the creation of charge by the Bank of India is taken note of, clearly such charge is not affected by the order of winding up passed on 12.04.2019. Even otherwise, Section 529-A of the Companies Act provides for sufficient safeguards insofar as workmen dues are concerned. Section 13(9) of the SARFAESI Act provides for a detailed procedure. Taking note of the law laid down by the Apex Court in the case o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to sell the secured assets in possession of the applicant by standing outside the winding up proceedings. 3. As C.A.No.199/2019 and C.A. No.260/2019 raise interconnected issues, both the applications are taken up together and disposed off by this common order. 4. It is made out from the facts that the Company in liquidation was a borrower from Bank of India. It is further submitted that under an Assignment Agreement dated 17.11.2017, the applicant in C.A. No.260/2019 had acquired debts of the Company in liquidation from Bank of India. As regards rights for recovery of such debts from the company in liquidation, the company has been ordered to be wound up as per the order dated 12.04.2019. 5. The Bank of India had filed O.A.No.25/2013 befor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mentioned in the Table at Sl.No.2 on 11.12.2004, 01.04.2005, 20.01.2007, 27.08.2008, 23.06.2009, 11.02.2010 and 28.03.2011. It further comes out from the document at Annexure-A that the applicant in C.A. No.260/2019 had sought for registering its charge by way of assignment on 12.01.2018 with the Registrar of Companies. In light of the admitted facts that the order of winding up was passed on 12.04.2019, clearly the charge of Bank of India is notified with the Registrar of Companies at the first instance on 11.12.2004 and is modified. 9. Insofar as the assignment in favour of the applicant in C.A. No.260/2019, admittedly such assignment has been made on 17.11.2017. The assignment is an internal transaction between the Bank of India and the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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