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COMA/158/2010 2/ 2 ORDER
IN
THE HIGH COURT OF GUJARAT AT AHMEDABAD
COMPANY
APPLICATION No. 158 of 2010
In
COMPANY
PETITION No. 104 of 2002
======================================
THE
SARASWAT COOPERATIVE BANK LIMITED - Applicant(s)
Versus
OFFICIAL
LIQUIDATOR & 19 - Respondents
======================================
Appearance :
MR
VIBHUTI NANAVATI for the Applicant.
MS AMEE YAJNIK FOR OFFICIAL
LIQUIDATOR for Respondent(s) : 1,
None for Respondent(s) : 2 -
20.
======================================
CORAM
:
HONOURABLE
MR.JUSTICE M.R. SHAH
Date
: 18/06/2010
ORAL
ORDER
1. The
present Judge’s summon has been taken out by the applicant
Saraswat Co-Operative Bank Limited seeking permission of this Court
under Section 446 of the Companies Act,1956 to initiate proceedings
for recovery of Rs.29,00,66,856.92 ps. against Mardia Steel Limited
(in liquidation) joining the Official Liquidator attached to this
Court.
2. Having
heard Ms.Vibhuti Nanavati, learned advocate appearing on behalf of
the applicant and Ms.Amee Yajnik, learned advocate appearing on
behalf of the Official Liquidator, the applicant is granted
permission under Section 446 of the Companies Act to initiate the
recovery proceedings for recovery of Rs.29,00,66,856.92 ps. against
Mardia Steel Limited (in liquidation) joining the Official
Liquidator attached to this Court on condition that the applicant
shall deposit Rs.50,000/- (Rupees Fifty Thousand Only) with the
Official Liquidator attached to this Court towards probable cost of
litigation and on condition that ultimately if any decree is passed,
the same shall be executed without prior permission of the Company
Court.
Official
Liquidator is directed to appear before the Court as and when any
recovery proceedings are initiated and the summon/notice is served
and engage the lawyer/advocate from the panel prepared by the office
of Official Liquidator, Bombay/ Central Government Counsel.
With
this, the present Company Application is disposed of.
[M.R.SHAH,J]
*dipti
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