IN RE: ASSOCIATED BANK OF TRIPURA, LTD. (IN LIQUIDATION) Vs. BISHNU PADA CHAKRABARTI
LAWS(CAL)-1951-1-42
HIGH COURT OF CALCUTTA
Decided on January 10,1951

In Re: Associated Bank Of Tripura, Ltd. (In Liquidation) Appellant
VERSUS
Bishnu Pada Chakrabarti Respondents


Referred Judgements :-

AZIZUDDIN HOSSEIN V. RARNIANUGRA ROY [REFERRED TO]
PURMESSUREE PERSHAD NARAIN SINGH V. JANKI KOOER [REFERRED TO]
MOHINI MOHAN DAS V. BUDDAN SAHA DAS [REFERRED TO]
DEVENDRA NATH BHATTACHARJEE V. PRASANNA KUMAR CHAKRAVARTI [REFERRED TO]
MONMOHAN KARMOKAR V. DWARKANATH KARMOKAR [REFERRED TO]
CHHAYEMANNESSA BIBI V. BASIRAR RAHMAN [REFERRED TO]
CHARAN DAS V. AMIR KHAN [REFERRED TO]
SECRETARY OF STATE FOR INDIA IN COUNCIL V. PAL DEBI [REFERRED TO]
DEOKINANDAN DALMIA V. BASANTLAL GHANSHYAM DAS [REFERRED TO]
SREE BANK,LTD. V. P.C. MUKHERJEE [REFERRED TO]
MOHINI MOHAN ROY V. RAMDAS PARAMHANSA,1924 28 CWN 271 [REFERRED TO]
<RC>1950(55) CAL. W.N. 402</RC> CALCUTTA HIGH COURT <JGN>BACHAWAT</JGN> <AT>CASE NO. 0.</AT> 10.01.1951 10.1.1951 IN RE: ASSOCIATED BANK OF TRIPURA [REFERRED TO]
ANANDA PRASAD GHOSE VS. RONENDRA LAL CHOUDHURY [REFERRED TO]
ABDUL RASHID KHAN RAHIM KHAN VS. SINGHAI BANSILAL [REFERRED TO]


JUDGEMENT

Bachawat, J. - (1.)There are 1,232 applications in the list today being all matters under Sec. 45B of the Banking Companies (Amendment) Act.
(2.)Under Sec. 45A of the Banking Companies Act, 1949, as amended by the Banking Companies (Amendment) Act, 1950 which came into force in March, 1950, the High Court exercising jurisdiction in the place where the registered office of the banking company, which is being wound up, is situated, is the Court for the purpose of that Act and so no other court has jurisdiction to entertain any matter relating to or arising out of the winding up of the banking company. Under Sec. 45B of the Let, in respect of such company this Court has full power to decide all schemes made by or against any banking company and all questions of priorities and all other questions whatsoever, either of law or of fact, which may relate to or arise in course of the winding up of such company.
(3.)It is well-known that a large number of banking companies is in liquidation. After the passing of this 1950 Act, a question arose as to how proceedings under Sec. 45B are to be instituted, ft was assumed by the general public and the legal profession that the proper mode of procedure was by way of an application. Accordingly, thousands of applications under Sec. 45B of the Banking Companies Act were made and numerous orders and decrees were passed on such applications.


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