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A.P. State Financial Corporation vs M/S. Ureka Heat & Exchangers Ltd on 1 December, 2015

Bench: Dipak Misra, Prafulla C. Pant

     ITEM NO.9                              COURT NO.5                  SECTION XIIA

                                   S U P R E M E C O U R T O F       I N D I A
                                           RECORD OF PROCEEDINGS

     Petition(s) for Special Leave to Appeal (C)                    No(s).   30380/2011

     (Arising out of impugned final judgment and order dated 30/06/2011
     in WA No. 784/2004 passed by the High Court of A.P. at Hyderabad)

     A.P. STATE FINANCIAL CORPORATION                                     Petitioner(s)

                                                    VERSUS

     M/S. UREKA HEAT & EXCHANGERS LTD & ANR.                              Respondent(s)

     (with interim relief and office report)

     WITH

     SLP(C) No. 7928-7929/2012
     (With appln.(s) for permission to file additional documents and
     Office Report)

     Date : 01/12/2015 This petition was called on for hearing today.

     CORAM :                 HON'BLE MR. JUSTICE DIPAK MISRA
                             HON'BLE MR. JUSTICE PRAFULLA C. PANT

     For Petitioner(s)                 Mr. Y. Prabhakara Rao, AOR

                                       Mr. M.L. Varma, Sr. Adv.
                                       Mr. Manoj C. Mishra, AOR

     For Respondent(s)                 Mr. Ananga Bhattacharyya, AOR

                                       Mr. Manoj C. Mishra, AOR

                                       Mr. S. Udaya Kumar Sagar, Adv.
                                       Ms. Bina Madhavan, Adv.
                                       M/s. Lawyer S Knit & Co, AOR


                              UPON hearing the counsel the Court made the following
                                                 O R D E R

Signature Not Verified This Court on 01.09.2015 had passed the following order :

“In course of hearing, we have been apprised that 17:29:30 IST Reason:

the petitioner-Financial Corporation has paid Rs.43 lacs to the Syndicate Bank from the sale proceeds. On a query being made, neither the  2 learned counsel for the petitioner, nor the learned counsel for the respondent No.1, is in a position to explain as to under what conditions and circumstances the amount was paid to the bank in question.

Let the matter be listed after three weeks.” Mr. M.L. Varma, learned senior counsel appearing for the petitioner-the auction purchaser in SLP (C) No.7928-29 of 2012, undertakes to file an affidavit explaining under what circumstances 43 lacs were paid to the Syndicate Bank within a week hence.

Be it stated that apart from the auction purchaser, we also wanted the Corporation to explain the same. Learned counsel appearing for the Corporation has expressed his desire to explain it orally. We are not inclined to accept the same. Let the Managing Director of the Corporation file an affidavit explaining the stand of the Corporation within four weeks hence.

Learned counsel for respondent no.1, the original owner, shall file a reply to the same within four weeks therefrom.

Let the matter be listed after eight weeks.

    (Gulshan Kumar Arora)                                 (H.S. Parasher)
        Court Master                                        Court Master