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Documents citing Reserve Bank Of India vs Crystal Credit Corporation Ltd. on 6 May, 2005

Vijay Kumar Sharma vs Vijay Kumar Kapoor And Ors. on 16 March, 2017

19. The arguments of the appellants that the Company Judge could not have decided the validity or otherwise the auction sale and in doing so he overstepped the jurisdiction vested in the Company Court are refuted by the auction purchaser. It is pointed out that the application filed by the auction purchaser under Section 536(2) of the Companies Act, on 22.05.2012 much before the Division Bench order of 10.07.2012, and was pending adjudication for grant of sanction. The Company Judge therefore, rightly adjudicated that application for sanction strictly in accordance with law keeping in mind the interest of the creditors of the company. While deciding it, the Company court even directed that the sanction was subject to the condition of depositing of `1.26 crores more than the auctioned amount. The auction purchaser deposited the amount on 27.05.2013. Also, possession was also handed over to the auction purchaser on 10.06.2013. Thus, the appellants' submission that the Company Judge overstepped the jurisdiction in deciding validity of auction sale is without merit. The Company Judge relied on the decision of this Court in Reserve Bank of India v. Crystal Credit Corporation Ltd. 2005(121) DLT 375 and granted the sanction under Section 536(2).
Delhi High Court Cites 28 - Cited by 0 - Full Document

Reserve Bank Of India vs Crystal Credit Corpn. Ltd. on 17 July, 2018

4. The case of the applicant is that thereafter said Smt.Nita Pant and Mr.Rajesh Kumar Aggarwal sold the property to various purchasers and the said property was purchased by the applicant vide sale deed dated 02.12.2010. It is further pleaded that this winding up petition was filed on 10.12.2001 and the OL was appointed as the provisional liquidator on 20.11.2002 i.e. after the above sale was confirmed. Hence, it is pleaded that the applicant is a bona fide purchaser and should be entitled to retain the possession of the said property. Reliance is placed on the judgment of this court in this case itself dated 6.5.2005 reported as Reserve Bank of India v. Crystal Credit Corporation Ltd., 121 (2005) DLT 375.
Delhi High Court Cites 3 - Cited by 0 - J Nath - Full Document
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