IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C).No. 12306 of 2006(M)
1. VIJAYA BANK,
... Petitioner
Vs
1. M/S. KING FISHERIES LIMITED,
... Respondent
2. SHAJI B.JOHN,
3. SHELA JAMES,
4. ANNAMMA B.JOHN,
5. MATHEW B.JOHN,
6. OFFICIAL LIQUIDATOR,
For Petitioner :SRI.K.ANAND (A.201)
For Respondent :SRI.V.PHILIP MATHEW
The Hon'ble MR. Justice C.N.RAMACHANDRAN NAIR
Dated :02/06/2009
O R D E R
C.N. RAMACHANDRAN NAIR, J.
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W.P.C. NO. 12306 OF 2006
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Dated this the 2nd day of June, 2009
JUDGMENT
W.P.C. is filed by the petitioner which is creditor bank stating
that it advanced loans to respondents 1 to 5. According to the
petitioner Official Liquidator has no authority to take over the property
of the company under liquidation in preference to the claim of the
petitioner under the Recovery of Debts due to Banks and Financial
Institutions Act, 1993. This Court granted stay against proceedings in
this WPC filed by the Bank. It is now conceded that application for
liquidation is withdrawn. Consequently, DRT is free to proceed based
on the application filed by the Bank. It is stated by counsel for the first
respondent that application filed by the Bank is dismissed by the DRT
for default. I do not think there was any need for the petitioner to
pursue the matter before the DRT when this WPC was pending and the
matter was under stay. Therefore there will be direction to the DRT to
restore the application filed by the petitioner and proceed with the
matter.
W.P.C. is disposed of as above.
(C.N. RAMACHANDRAN NAIR)
Judge
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