Madhya Pradesh High Court
Senior Manager,Uco Bank vs M/S Zoom Developers (Pvt) Ltd. on 24 February, 2020
Author: Prakash Shrivastava
Bench: Prakash Shrivastava
HIGH COURT OF MADHYA PRADESH Co.P. No.9/2011 Indore, Dated:24.02.2020 IA No.2880/2019 Parties through counsel.
IA No.2880/2019 has been filed by one Sunstar Infrastructure P. Ltd seeking a direction to the OL to initiate the appropriate legal proceedings for releasing the claim of the company in liquidation as per the insurance cover issued by the Export Credit Guarantee Corporation of India.
The stand of the OL is that the insurance cover is not available with the OL. As per the applicant, the said cover is available with the Punjab and National Bank, the lead bank of consortium of banks.
Shri V.P. Khare, learned counsel for Punjab National Bank prays for and is granted four weeks time to obtain instructions in respect of the availability of the insurance cover and entire connected record with the bank. If the same is available, then a copy of it will be duly supplied to the counsel for OL without any delay.
List thereafter on any Monday.
(PRAKASH SHRIVASTAVA) Judge Digitally signed by Varghese Mathew Date: 24/02/2020 17:44:02