Calcutta High Court
Limited (In Liquidation) vs Kotak Mahindra Bank Ltd on 8 September, 2015
Author: Sanjib Banerjee
Bench: Sanjib Banerjee
OD-12
CA No.198 of 2015
CP No.45 of 1986
IN THE HIGH COURT AT CALCUTTA
Original Jurisdiction
ORIGINAL SIDE
ALUMINUM MANUFACTURING COMPANY
LIMITED (IN LIQUIDATION)
-Versus-
KOTAK MAHINDRA BANK LTD.
Appearance:
Mr. Joy Saha, Adv.
Mr. Aniruddha Roy, Adv.
Ms. Sreetama Manna, Adv.
...for Kotak Mahindra Bank.
Mr. Anuj Singh, Adv.
Mr. A. Sarkar, Adv.
...for IIBI.
Mr. Ranajit Chowdhury, Adv.
Ms. Tanushree Dasgupta, Adv.
...for the official liquidator.
BEFORE:
The Hon'ble JUSTICE SANJIB BANERJEE
Date : September 8, 2015.
The Court : The application is by Kotak Mahindra Bank Limited claiming as assignee of UCO Bank in respect of UCO Bank's dues qua the company (in liquidation). Another secured creditor, Industrial Investment Bank of India Ltd., is represented.
The appearing secured creditors and the official liquidator confirm that the assets of the company (in liquidation) were sold as a going concern, which implies that the dues of the workmen were taken over by the purchaser. The official liquidator says that a recent advertisement published by the official liquidator has resulted in 138 workmen lodging their claims. 2
It appears from the order dated September 6, 1988 that the West Bengal Financial Corporation (WBFC) is also a secured creditor of the company (in liquidation). The official liquidator will inform the WBFC and the workmen who have lodged claims that the petition will appear three weeks hence and, unless the workmen can show to the contrary, their claims will be disregarded in view of the assets of the company having been sold as a going concern.
Urgent certified website copies of this order, if applied for, be supplied to the parties subject to compliance with all requisite formalities.
(SANJIB BANERJEE, J.) A/s.