The High Court addressed the issue of the relevant date for ...

In a liquidation case, claims should be decided until provisional liquidator's appointment. Bank of Baroda's dual claims were valid.

Case Laws     Companies Law

July 4, 2024

The High Court addressed the issue of the relevant date for adjudicating claims in a liquidation scenario. The Court held that claims should be adjudicated up to the date of the provisional liquidator's appointment, not the final winding-up date. The Bank of Baroda had dual claims, one as a secured creditor and one as a Debenture Trustee. The applicant's claim settlement assertions were found factually incorrect as the Bank was entitled to recover a specific amount. Orders upholding these claims were not challenged and finalized. The Court dismissed the application, finding no errors warranting review.

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