The Akola Oil Industries (Under ... vs State Bank Of India on 4 May, 2005
C. Learned counsel for Official Liquidator has also relied upon judgment of Patna High Court reported at 1998 (98) Company Cases 340 between Baijnath Prasad and Anr. v. Jaimangal Ltd. and Ors. In this case, Patna High Court has taken same view as in case of Indian Textiles (supra) and as State Financial Corporation had taken possession before passing of winding up order, it was allowed to retain possession but records were directed to be handed over to Official Liquidator for discharge of statutory obligation and sale was directed to be by State Finance Corporation, under the supervision of court.