whereby and
whereunder its plants and machinery were hypothecated. A collateral
security agreement was also executed by Shri S.K. Rajan wherefor a
property bearing ... Division No. 22,
Bangalore was given as a collateral security. The 'Industrial Concern'
allegedly committed defaults.
PROCEEDINGS
4. Appellant Corporation on or about
dated 6.1.1984. the loan was
sanctioned on Collateral Security of Bearer Bonds
of Rs. 2.00 lacs besides other securities. The
details of the bearer bonds ... register therein.
The said bearer bonds had been taken as collateral security from M/s Utkal
Iron and Steel Industries towards sanctioning
Explanation.--For the purposes of this rule an
obligation and a collateral security for its
performance and successive claims arising under
the same obligation shall
remain outside the winding up proceedings
being desirous of realizing the Security in the suit. The permission to
continue the proceedings in the said Suit ... favour the Defendant No.1
company had created Equitable mortgage as Collateral
Security by deposit of original title deeds in respect of
land, building
facility was made available with Accused No.1 upon obtaining
sufficient collateral security, i.e., title deeds of moveable and immoveable
properties of Accused ... overdraft facility to
the limit of Rs.90 lacs against collateral security. It was granted. Sufficient
securities were also furnished. The Regional Manager was informed
attempted to transfer by way of gifts properties
given as collateral security to financial institutions and so
on. When the Petitioner herein either asserted
assets had been placed either under
mortgage and/or offered as collateral security to various financial institutions
amongst which the State Bank of Mysore
Kunjikuttan was secured by security of immovable
property, which was collateral security. On 30.10.1980, the Bank granted
an enhanced overdraft facility of Rs. 9 lakh
their
respective Pay-out dates and as the realization/liquidation of the
collateral Securities/guarantees would take some time to receive
the payment, the Exchange ... Century Consultants Ltd. initially from the funds of the Exchange.
Thereafter the collateral securities/guarantees provided by the
Century Consultants Ltd. were liquidated in accordance
Sangramsinh P. Gaekwad & Ors vs Shantadevi P. Gaekwad (Dead)Thr.Lrs. & ... on 20
