Calcutta High Court
National Insurance Company Limited vs The O/L & Anr on 22 August, 2016
Author: Soumen Sen
Bench: Soumen Sen
ORDER SHEET
CA No. 564 of 2016
BIFR No. 153 of 1987
IN THE HIGH COURT AT CALCUTTA
ORIGINAL JURISDICTION
TATA CONSTRUCTION & PROJECTS LTD. (IN LIQUIDATION)
And
NATIONAL INSURANCE COMPANY LIMITED
Versus
The O/L & Anr.
BEFORE:
The Hon'ble JUSTICE SOUMEN SEN
Date : 22nd August, 2016.
Appearance:
Mr. Shekhar B. Saraf, Adv.
Mr. G. N. Jajodia, Adv.
Mr. Tilok Bose, Sr. Adv.
Mr. Anupam Dasadhikari, Adv.
The Court :- In terms of the order dated 18th July, 2016, NIC has directly submitted to the Official Liquidator the original debenture certificates in support of its claim.
Mr. Shekhar B. Saraf, learned Counsel appearing on behalf of Debenture Trustee, submitted that IDBI has not furnished any document as such the trustee was unable to forward the original documents or duly certified copies of the document of IDBI in respect of the claim lodged by the IDBI. The principal amount payable to NIC on the basis of the original debenture certificates produced by NIC shall be released in favour of the debenture trustee within ten days after verification. Debenture Trustee on receipt of the amount payable to NIC shall disburse the said amount to NIC within a fortnight thereafter.
CA No. 564 of 2016 is disposed of.
(SOUMEN SEN, J.) snn.